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

Role: EVP AND CCO
Signature: /s/ Howard Kuppler, by power of attorney
Issuer symbol: ALK
Transactions as of: 13 Feb 2026
Net transactions value: -$1,333,479
Form type: 4
Filing time: 17 Feb 2026, 18:32:24 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
HARRISON ANDREW R	EVP AND CCO	ALASKA AIR GROUP, INC., 19300 INTERNATIONAL BLVD, SEATTLE	/s/ Howard Kuppler, by power of attorney	17 Feb 2026	0001544030

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ALK	COMMON STOCK	Sale	$794,762	-14,500	-42%	$54.81	20,195	13 Feb 2026	Direct	F1
transaction	ALK	COMMON STOCK	Options Exercise	$0	+17,020	+84%	$0.000000	37,215	13 Feb 2026	Direct	F2
transaction	ALK	COMMON STOCK	Tax liability	$354,281	-6,410	-17%	$55.27	30,805	13 Feb 2026	Direct	F3
transaction	ALK	COMMON STOCK	Options Exercise	$0	+8,860	+29%	$0.000000	39,665	13 Feb 2026	Direct	F2
transaction	ALK	COMMON STOCK	Tax liability	$184,436	-3,337	-8.4%	$55.27	36,328	13 Feb 2026	Direct	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	-17,020	-100%	$0.000000	0	13 Feb 2026	COMMON STOCK	17,020	$0.000000	Direct	F2, F4
transaction	ALK	RESTRICTED STOCK UNITS	Options Exercise	$0	-8,860	-50%	$0.000000	8,860	13 Feb 2026	COMMON STOCK	8,860	$0.000000	Direct	F2, F5

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

Explanation of Responses:

Id	Content
F1	The price reported in column 4 is a weighted average price. These shares sold in multiple transactions at prices ranging from $54.78 to $54.945, inclusive. The reporting person undertakes to provide to Alaska Air Group, Inc., any security holder of Alaska Air Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
F2	Each restricted stock unit (RSUs) represents a contingent right to receive one share of ALK common stock.
F3	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.
F4	The RSUs vest as to 100% of the shares granted on February 13, 2026.
F5	The RSUs vesting were from grants of 26,580 shares that vested or will vest in three annual installments as follows: 8,860 shares on February 13, 2025; 8,860 shares on February 13, 2026; and 8,860 shares on February 13, 2027.