Alaska Air Group (NYSE: ALK) EVP sells shares and gains new RSU award

Rhea-AI Filing Summary

Alaska Air Group EVP Kyle B. Levine, EVP Corp Public Affairs & Chief Legal Officer, reported several equity transactions in ALK stock. On February 9, 2026, he sold 2,945 shares of common stock in an open-market transaction at $60.016 per share, leaving him with 20,977 shares.

On February 10, 2026, 7,661 common shares were acquired at $0 upon vesting of performance stock units after a three-year performance period ending December 31, 2025, raising his direct common share holdings to 28,638. The same day, 2,014 shares were disposed of at $59.14 to cover tax withholding from that vesting, leaving 26,624 common shares held directly.

Separately, Levine received a grant of 15,850 restricted stock units, each representing one ALK share. These RSUs vest in three annual installments: 5,283 shares on February 10, 2027; 5,283 shares on February 10, 2028; and 5,284 shares on February 10, 2029.

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

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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^*

LEVINE KYLE B

(Last) (First) (Middle)

ALASKA AIR GROUP, INC.

19300 INTERNATIONAL BLVD

(Street)

SEATTLE WA 98188

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ALASKA AIR GROUP, INC. [ ALK ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP Corp Pub Aff & Chf Leg Off

3. Date of Earliest Transaction (Month/Day/Year)
02/09/2026

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
COMMON STOCK	02/09/2026		S		2,945	D	$60.016	20,977	D
COMMON STOCK	02/10/2026		A		7,661(1)	A	$0	28,638	D
COMMON STOCK	02/10/2026		F		2,014(2)	D	$59.14	26,624	D

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
RESTRICTED STOCK UNITS	(3)	02/10/2026		A		15,850		(4)	(4)	COMMON STOCK	15,850	$0	15,850	D

Explanation of Responses:

1. The acquisition resulted from the vesting of Performance Stock Units (PSUs) pursuant to the attainment of certain performance goals over a three-year period ending December 31, 2025, in accordance with the terms of a PSU award granted under the Issuer's 2016 Performance Incentive Plan and upon certification of performance results by the Board's Compensation Committee on February 10, 2026.

2. 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 PSUs and settled with shares by the reporting person.

3. Each restricted stock unit (RSUs) represents a contingent right to receive one share of ALK common stock.

4. The RSUs vest in three annual installments as follows: 5,283 shares on February 10, 2027; 5,283 shares on February 10, 2028; and 5,284 shares on February 10, 2029.

Remarks:

	/s/ Howard Kuppler, by power of attorney	02/11/2026
	** 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).
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FAQ

What insider transactions did ALK executive Kyle B. Levine report?

Kyle B. Levine reported an open-market sale of 2,945 ALK common shares at $60.016, PSU-driven acquisition of 7,661 common shares, a 2,014-share tax-withholding disposition at $59.14, and a grant of 15,850 restricted stock units vesting over three years.

How many Alaska Air Group (ALK) shares did Kyle B. Levine sell?

Levine sold 2,945 shares of Alaska Air Group common stock at $60.016 per share. This open-market sale left him holding 20,977 shares before subsequent PSU vesting, tax withholding, and the new restricted stock unit grant on February 10, 2026.

What equity awards did ALK grant to Kyle B. Levine in this Form 4?

Alaska Air Group reported a grant of 15,850 restricted stock units to Kyle B. Levine. Each RSU represents one ALK share, vesting in three annual tranches: 5,283 shares in 2027, 5,283 shares in 2028, and 5,284 shares in 2029, subject to continued service.

Why did Kyle B. Levine dispose of 2,014 ALK shares on February 10, 2026?

The 2,014 ALK shares disposed of at $59.14 on February 10, 2026 were withheld to satisfy tax withholding obligations. They arose from the vesting of performance stock units, treated as an exempt disposition to the issuer under Rule 16b-3(e).

How were the 7,661 ALK shares acquired by Kyle B. Levine determined?

The 7,661 ALK common shares were acquired at $0 upon vesting of performance stock units. Vesting was based on achieving performance goals over a three-year period ending December 31, 2025, as certified by the board’s compensation committee on February 10, 2026.

What is the vesting schedule for Kyle B. Levine’s new ALK RSUs?

Levine’s 15,850 restricted stock units vest in three equal annual installments. Specifically, 5,283 ALK shares vest on February 10, 2027, another 5,283 on February 10, 2028, and the remaining 5,284 on February 10, 2029, if vesting conditions are met.