Air Lease (AL) director discloses December insider sales and major trust holdings

Rhea-AI Filing Summary

Air Lease Corporation director reported several insider sales of Class A common stock in early December 2025. On December 5, 8 and 9, 2025, the reporting person sold blocks of shares at weighted-average prices around $64 per share, including sales of 17,000, 18,000 and 18,000 shares from a directly held position. After these transactions, the director directly owned 1,464,366 Air Lease shares.

Additional sales were made from indirect holdings, such as 34,500, 36,000 and 36,000 shares held by the Udvar-Hazy Separate Property Trust, leaving that trust with 1,047,658 shares. The filing also lists significant indirect holdings through various family trusts and entities, including 2,700,000 shares held by the Hazy Family Community Property Trust 5/28/85 and 329,350 shares held by Air Intercontinental, Inc.

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

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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)
12/05/2025

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	12/05/2025		S		17,000	D	$64.0509(1)	1,500,366	D
Air Lease Corporation - Class A Common Stock	12/05/2025		S		34,500	D	$64.0129(2)	1,119,658	I	See footnote(3)
Air Lease Corporation - Class A Common Stock	12/05/2025		S		1,333	D	$64.07	100,000	I	See footnote(4)
Air Lease Corporation - Class A Common Stock	12/05/2025		S		500	D	$63.9801	15,050	I	See footnote(5)
Air Lease Corporation - Class A Common Stock	12/08/2025		S		18,000	D	$63.973(6)	1,482,366	D
Air Lease Corporation - Class A Common Stock	12/08/2025		S		36,000	D	$63.9606(7)	1,083,658	I	See footnote(3)
Air Lease Corporation - Class A Common Stock	12/08/2025		S		1,000	D	$63.96	32,745	I	See footnote(8)
Air Lease Corporation - Class A Common Stock	12/08/2025		S		4,500	D	$63.9608(9)	12,500	I	See footnote(10)
Air Lease Corporation - Class A Common Stock	12/08/2025		G		3,000	D	$0	21,500	I	See footnote(10)
Air Lease Corporation - Class A Common Stock	12/09/2025		S		18,000	D	$63.9866(11)	1,464,366	D
Air Lease Corporation - Class A Common Stock	12/09/2025		S		36,000	D	$64.018(12)	1,047,658	I	See footnote(3)
Air Lease Corporation - Class A Common Stock	12/09/2025		S		2,500	D	$63.98	10,000	I	See footnote(10)
Air Lease Corporation- Class A Common Stock	12/09/2025		S		2,200	D	$64.0503(13)	1,300	I	See footnote(14)
Air Lease Corporation - Class A Common Stock	12/09/2025		S		2,000	D	$64.05	1,300	I	See footnote(14)
Air Lease Corporation - Class A Common Stock								19,500	I	See footnote(5)
Air Lease Corporation - Class A Common Stock								2,500	I	See footnote(14)
Air Lease Corporation- Class A Common Stock								1,300	I	See footnote(14)
Air Lease Corporation - Class A Common Stock								300	I	See footnote(14)
Air Lease Corporation - Class A Common Stock								36,000	I	See footnote(15)
Air Lease Corporation - Class A Common Stock								329,350	I	See footnote(16)
Air Lease Corporation - Class A Common Stock								2,700,000	I	See footnote(17)

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 $64.01 to $64.065, 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 $63.98 to $64.07, 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. 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.

5. 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.

6. The price reported in Column 4 is the weighted average sales price. These shares were sold in multiple transactions at prices ranging from $63.95 to $63.995, 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 6 to this Form 4.

7. The price reported in Column 4 is the weighted average sales price. These shares were sold in multiple transactions at prices ranging from $63.92 to $63.98, 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 7 to this Form 4.

8. 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.

9. The price reported in Column 4 is the weighted average sales price. These shares were sold in multiple transactions at prices ranging from $63.96 to $63.965, 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 9 to this Form 4.

10. 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.

11. The price reported in Column 4 is the weighted average sales price. These shares were sold in multiple transactions at prices ranging from $63.96 to $64.04, 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 11 to this Form 4.

12. The price reported in Column 4 is the weighted average sales price. These shares were sold in multiple transactions at prices ranging from $63.98 to $64.06, 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 12 to this Form 4.

13. The price reported in Column 4 is the weighted average sales price. These shares were sold in multiple transactions at prices ranging from $64.05 to $64.06, 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 13 to this Form 4.

14. 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.

15. 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.

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

17. 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	12/09/2025
	** 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.
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FAQ

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

The filing shows that a director of Air Lease Corporation sold multiple blocks of Class A common stock on December 5, 8 and 9, 2025 at weighted-average prices around $64 per share, from both direct and indirect holdings.

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

Following the reported sales, the director directly beneficially owned 1,464,366 shares of Air Lease Corporation Class A common stock.

Which indirect holdings of Air Lease (AL) shares are disclosed for the director?

The report lists several indirect holdings, including shares held by the Udvar-Hazy Separate Property Trust, the Hazy Family Community Property Trust 5/28/85, Air Intercontinental, Inc., and various family members and custodial accounts.

What is the size of the Udvar-Hazy Separate Property Trust’s Air Lease (AL) position after the sales?

After selling 34,500, 36,000 and 36,000 shares on the reported dates, the Udvar-Hazy Separate Property Trust held 1,047,658 Air Lease shares.

How large is the Hazy Family Community Property Trust’s Air Lease (AL) holding?

The filing states that the Hazy Family Community Property Trust 5/28/85 holds 2,700,000 shares of Air Lease Corporation Class A common stock.

Are family members’ Air Lease (AL) holdings included in the director’s Form 4?

Yes. The report includes shares owned by the director’s daughters, son, wife and grandchildren, with the director expressly disclaiming beneficial ownership except to the extent of any pecuniary interest.