Air Lease Corp Form 4 shows director selling AL shares

Rhea-AI Filing Summary

Air Lease Corporation (AL) reported insider share sales by a director. On 11/21/2025, the director sold 6,000 and 14,000 shares of Class A common stock in two open-market transactions at weighted average prices of $63.7989 and $63.8146, respectively. On 11/24/2025, the director sold an additional 5,000 and 10,300 shares at weighted average prices of $63.8514 and $63.8531.

After these sales, the director reports direct beneficial ownership of 1,522,366 and 1,517,366 shares in two separate direct positions, and indirect ownership of 1,164,458 and 1,154,158 shares through a separate property trust. Additional indirect holdings are reported through the director’s spouse, adult children, grandchildren, and various family trusts and entities, including positions such as 36,000, 329,350, 101,333 and 2,700,000 shares held via different family vehicles.

Insights

Equity Ownership & Governance Analyst

Director reports modest open-market share sales while retaining very large direct and indirect ownership stakes.

The filing reports that a director of Air Lease Corporation sold a total of 35,300 shares of Class A Common Stock on 11/21/2025 and 11/24/2025. The transactions are coded "S", meaning open-market sales, at weighted average prices around $63.80 per share. After these sales, the reporting person still holds over 1.5 million shares directly and additional shares indirectly through various trusts and entities.

The disclosure lists multiple indirect holdings, including shares held by the Udvar-Hazy Separate Property Trust, the Hazy Family Community Property Trust 5/28/85 with 2,700,000 shares, and entities such as Air Intercontinental, Inc. and Ocean Equities, Inc.. Some positions are attributed to the spouse, children, and grandchildren, where the reporting person expressly disclaims beneficial ownership except for any economic interest. This structure shows a dispersed but substantial long-term stake.

The practical takeaway is that these are incremental sales relative to a very large overall position, not an exit. The weighted-average price ranges and undertakings to provide trade-by-trade detail align with standard Section 16 practices. A key item to watch is whether similar open-market sales continue in subsequent Form 4 filings over the coming months, which would indicate an ongoing selling pattern versus isolated liquidity events.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

UDVAR-HAZY STEVEN F

(Last) (First) (Middle)

C/O AIR LEASE CORPORATION

2000 AVENUE OF THE STARS, SUITE 1000N

(Street)

LOS ANGELES CA 90067

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AIR LEASE CORP [ AL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/21/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Air Lease Corporation - Class A Common Stock	11/21/2025		S		6,000	D	$63.7989(1)	1,522,366	D
Air Lease Corporation - Class A Common Stock	11/21/2025		S		14,000	D	$63.8146(2)	1,164,458	I	See footnote(3)
Air Lease Corporation - Class A Common Stock	11/24/2025		S		5,000	D	$63.8514(4)	1,517,366	D
Air Lease Corporation - Class A Common Stock	11/24/2025		S		10,300	D	$63.8531(5)	1,154,158	I	See footnote(3)
Air Lease Corporation - Class A Common Stock								33,745	I	See footnote(6)
Air Lease Corporation - Class A Common Stock								15,550	I	See footnote(7)
Air Lease Corporation - Class A Common Stock								19,500	I	See footnote(7)
Air Lease Corporation - Class A Common Stock								17,000	I	See footnote(8)
Air Lease Corporation - Class A Common Stock								24,500	I	See footnote(8)
Air Lease Corporation- Class A Common Stock								3,500	I	See footnote(9)
Air Lease Corporation - Class A Common Stock								3,300	I	See footnote(9)
Air Lease Corporation - Class A Common Stock								2,500	I	See footnote(9)
Air Lease Corporation- Class A Common Stock								1,300	I	See footnote(9)
Air Lease Corporation - Class A Common Stock								300	I	See footnote(9)
Air Lease Corporation - Class A Common Stock								36,000	I	See footnote(10)
Air Lease Corporation - Class A Common Stock								329,350	I	See footnote(11)
Air Lease Corporation - Class A Common Stock								101,333	I	See footnote(12)
Air Lease Corporation - Class A Common Stock								2,700,000	I	See footnote(13)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported in Column 4 is the weighted average sales price. These shares were sold in multiple transactions at prices ranging from $63.79 to $63.80, inclusive. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote 1 to this Form 4.

2. The price reported in Column 4 is the weighted average sales price. These shares were sold in multiple transactions at prices ranging from $63.81 to $63.825, inclusive. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote 2 to this Form 4.

3. These shares are held by the Udvar-Hazy Separate Property Trust, of which the reporting person is the trustee.

4. The price reported in Column 4 is the weighted average sales price. These shares were sold in multiple transactions at prices ranging from $63.845 to $63.865, inclusive. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote 4 to this Form 4.

5. The price reported in Column 4 is the weighted average sales price. These shares were sold in multiple transactions at prices ranging from $63.845 to $63.86, inclusive. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote 5 to this Form 4.

6. These shares are owned by the reporting person's wife. The reporting person expressly disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed to be an admission of beneficial ownership of the reported shares for purposes of Section 16 or for any other purpose.

7. These shares are owned by one of the reporting person's daughters. The reporting person expressly disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed to be an admission of beneficial ownership of the reported shares for purposes of Section 16 or for any other purpose.

8. These shares are owned by one of the reporting person's sons. The reporting person expressly disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of the reported shares for purposes of Section 16 or for any other purpose.

9. These shares are held by the reporting person as custodian for one of the reporting person's grandchildren under the California Uniform Transfers to Minors Act. The reporting person expressly disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of the reported shares for purposes of Section 16 or for any other purpose.

10. These shares are held by Emerald Financial LLC. A separate trust for each of the reporting person's four children owns 25% of the membership interests of Emerald LLC. Inclusion of these shares in this report shall not be deemed to be an admission of beneficial ownership of the reported shares for purposes of Section 16 or for any other purpose.

11. These shares are held by Air Intercontinental, Inc., of which the reporting person is the sole stockholder.

12. These shares are held by Ocean Equities, Inc. which is 100% owned by the Hazy Family Community Property Trust 5/28/85 of which the reporting person is the trustee and beneficial owner.

13. These shares are held by the Hazy Family Community Property Trust 5/28/85, of which the reporting person is the trustee and beneficial owner.

	/s/ Lauren Jaeger, Attorney-in-Fact	11/25/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Air Lease (AL) report in this Form 4?

The filing reports that a director of Air Lease sold multiple blocks of Class A common stock on 11/21/2025 and 11/24/2025 in open-market transactions.

How many Air Lease (AL) shares were sold and at what prices?

The director sold 6,000, 14,000, 5,000 and 10,300 shares at weighted average prices of $63.7989, $63.8146, $63.8514 and $63.8531, respectively.

How many Air Lease (AL) shares does the director still own directly after the sales?

After the reported transactions, the director reports direct beneficial ownership positions of 1,522,366 and 1,517,366 shares of Air Lease Class A common stock.

What indirect Air Lease (AL) holdings are reported for the director?

Indirect holdings include 1,164,458 and 1,154,158 shares through a separate property trust, plus additional blocks such as 36,000, 329,350, 101,333 and 2,700,000 shares held via the director’s spouse, children, grandchildren, and family entities.

How were the sale prices for the Air Lease (AL) insider trades calculated?

Each reported price is a weighted average sales price, reflecting multiple trades within narrow ranges (for example, from $63.79 to $63.80 for one transaction block).

Does the director disclaim beneficial ownership of some Air Lease (AL) shares?

Yes. The director expressly disclaims beneficial ownership, except for any pecuniary interest, for shares held by the spouse, certain children, grandchildren, and some entities, stating that inclusion does not constitute an admission of beneficial ownership.