Shane R. Tackett - 13 Feb 2026 Form 4 Insider Report for ALASKA AIR GROUP, INC. (ALK)

Role: EVP AND CFO
Signature: /s/ Howard Kuppler, by power of attorney
Issuer symbol: ALK
Transactions as of: 13 Feb 2026
Net transactions value: -$625,491
Form type: 4
Filing time: 17 Feb 2026, 18:40:48 UTC
Previous filing: 13 Feb 2026
Next filing: 20 Feb 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
TACKETT SHANE R	EVP AND CFO	ALASKA AIR GROUP, INC., 19300 INTERNATIONAL BLVD, SEATTLE	/s/ Howard Kuppler, by power of attorney	17 Feb 2026	0001544028

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ALK	COMMON STOCK	Options Exercise	$0	+18,060	+36%	$0.000000	68,471	13 Feb 2026	Direct	F1
transaction	ALK	COMMON STOCK	Tax liability	$399,381	-7,226	-11%	$55.27	61,245	13 Feb 2026	Direct	F2
transaction	ALK	COMMON STOCK	Options Exercise	$0	+10,223	+17%	$0.000000	71,468	13 Feb 2026	Direct	F1
transaction	ALK	COMMON STOCK	Tax liability	$226,110	-4,091	-5.7%	$55.27	67,377	13 Feb 2026	Direct	F2
holding	ALK	COMMON STOCK						2,806	13 Feb 2026	ESOP TRUST	F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ALK	RESTRICTED STOCK UNITS	Options Exercise	$0	-18,060	-100%	$0.000000	0	13 Feb 2026	COMMON STOCK	18,060	$0.000000	Direct	F1, F4
transaction	ALK	RESTRICTED STOCK UNITS	Options Exercise	$0	-10,223	-50%	$0.000000	10,224	13 Feb 2026	COMMON STOCK	10,223	$0.000000	Direct	F1, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit (RSUs) represents a contingent right to receive one share of ALK common stock.
F2	The shares withheld were an exempt disposition to the Issuer under Rule 16b-3(e) to satisfy tax withholding obligations arising out of the vesting of RSUs and settled with shares by the reporting person.
F3	Common shares held in the Alaska Air Group, Inc. Employee Stock Ownership 401(K) Plan Trust, as of 12/31/2025.
F4	The RSUs vest as to 100% of the shares granted on February 13, 2026.
F5	The restricted stock units vesting were from a grant of 30,670 shares that vested or will vest in three equal installments as follows: 10,223 shares on February 13, 2025; 10,223 shares on February 13, 2026; and 10,224 shares on February 13, 2027.