Joseph A. Sprague - 13 Feb 2025 Form 4 Insider Report for ALASKA AIR GROUP, INC. (ALK)

Role: Pres & CEO Hawaiian A/L
Signature: /s/ Howard Kuppler, by power of attorney
Issuer symbol: ALK
Transactions as of: 13 Feb 2025
Net transactions value: -$121,940
Form type: 4
Filing time: 18 Feb 2025, 17:41:16 UTC
Previous filing: 11 Feb 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ALK	COMMON STOCK	Options Exercise	$0	+4,543	+27%	$0.000000	21,070	13 Feb 2025	Direct	F1
transaction	ALK	COMMON STOCK	Tax liability	$121,940	-1,681	-8%	$72.54	19,389	13 Feb 2025	Direct	F2
holding	ALK	COMMON STOCK 401(K)						7,049	13 Feb 2025	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	-4,543	-33%	$0.000000	9,087	13 Feb 2025	COMMON STOCK	4,543	$0.000000	Direct	F1, F4

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

Explanation of Responses:

Id	Content
F1	Restricted Stock Units (RSUs) convert to common stock on a one-for-one basis.
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.
F4	The restricted stock units vesting were from a grant of 13,630 shares that vested or will vest in three equal installments as follows: 4,543 shares on February 13, 2025; 4,543 shares on February 13, 2026; and 4,544 shares on February 13, 2027.