Andrea L. Schneider - 13 Feb 2026 Form 4 Insider Report for ALASKA AIR GROUP, INC. (ALK)

Role: Pres & CEO Horizon Airlines
Signature: /s/ Howard Kuppler, by power of attorney
Issuer symbol: ALK
Transactions as of: 13 Feb 2026
Net transactions value: -$252,805
Form type: 4
Filing time: 17 Feb 2026, 18:39:37 UTC
Previous filing: 13 Feb 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
SCHNEIDER ANDREA L	Pres & CEO Horizon Airlines	C/O ALASKA AIR GROUP, INC., 19300 INTERNATIONAL BLVD, SEATTLE	/s/ Howard Kuppler, by power of attorney	17 Feb 2026	0001715974

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ALK	COMMON STOCK	Options Exercise	$0	+7,600	+20%	$0.000000	45,220	13 Feb 2026	Direct	F1
transaction	ALK	COMMON STOCK	Tax liability	$158,238	-2,863	-6.3%	$55.27	42,357	13 Feb 2026	Direct	F2
transaction	ALK	COMMON STOCK	Options Exercise	$0	+4,543	+11%	$0.000000	46,900	13 Feb 2026	Direct	F1
transaction	ALK	COMMON STOCK	Tax liability	$94,567	-1,711	-3.6%	$55.27	45,189	13 Feb 2026	Direct	F2
holding	ALK	COMMON STOCK						15	13 Feb 2026	By Spouse

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	-7,600	-100%	$0.000000	0	13 Feb 2026	COMMON STOCK	7,600	$0.000000	Direct	F1, F3
transaction	ALK	RESTRICTED STOCK UNITS	Options Exercise	$0	-4,543	-50%	$0.000000	4,544	13 Feb 2026	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	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	The RSUs vest as to 100% of the shares granted on February 13, 2026.
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.