Alaska Air director granted 6,483 ALK shares

Bedient Patricia M reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Bedient Patricia M reported acquisition or exercise transactions in this Form 4 filing.

ALASKA AIR GROUP, INC. director Patricia M. Bedient received a grant of 6,483 shares of common stock at $38.56 per share. The award was made under the company’s 2016 Performance Incentive Plan in connection with her re-election to the Board and service as Non-Executive Board Chair until the 2027 annual stockholders meeting.

After this grant, Bedient holds 68,865 shares in total, including 22,914 Deferred Stock Units and 2,625 additional Deferred Stock Units that are fully vested and will be settled in common shares when she resigns from the Board.

Insider Trade Summary

Grant/Award: 6,483 shares

Grant/Award 1 txn

Insider Bedient Patricia M

Role Director

Type	Security	Shares	Price	Value
Grant/Award	COMMON STOCK	6,483	$38.56	$250K

Holdings After Transaction: COMMON STOCK — 68,865 shares (Direct)

Footnotes (2)

1. F1. Shares of Alaska Air Group, Inc. (the "Issuer") common stock granted under the Issuer's 2016 Performance Incentive Plan ("2016 PIP") in connection with the reporting person's re-election to serve on the Issuer's Board of Directors and for service as Non-Executive Board Chair until the 2027 Annual Stockholders Meeting.
2. F2. Total held in column 5 includes 22,914 Deferred Stock Units (DSUs) previously granted under the Issuer's 2008 Performance Incentive Plan and 2,625 DSUs granted under the Issuer's 2016 PIP. The DSUs are 100% vested on the date of grant and issuable in common shares upon resignation from the Issuer's Board of Directors.

Key Figures

Stock grant: 6,483 shares Grant price: $38.56 per share Total holdings after grant: 68,865 shares +2 more

5 metrics

Stock grant 6,483 shares Common stock grant on 2026-05-13

Grant price $38.56 per share Value used for the equity award

Total holdings after grant 68,865 shares Shares beneficially owned following the transaction

Deferred Stock Units 2008 plan 22,914 DSUs Vested DSUs from 2008 Performance Incentive Plan

Deferred Stock Units 2016 plan 2,625 DSUs Vested DSUs from 2016 Performance Incentive Plan

Key Terms

Deferred Stock Units (DSUs), 2016 Performance Incentive Plan, 2008 Performance Incentive Plan, Non-Executive Board Chair

4 terms

Deferred Stock Units (DSUs) financial

"Total held in column 5 includes 22,914 Deferred Stock Units (DSUs) previously granted"

Deferred stock units (DSUs) are a form of long-term pay that promises an employee or director future company shares or cash equal to the share value at a later date, usually after leaving the company or at a set vesting time. Think of them as a delayed paycheck tied to the stock: they align recipients’ interests with long-term share performance and matter to investors because they create potential future dilution and signal how management is rewarded and incentivized.

2016 Performance Incentive Plan financial

"common stock granted under the Issuer's 2016 Performance Incentive Plan"

2008 Performance Incentive Plan financial

"previously granted under the Issuer's 2008 Performance Incentive Plan"

Non-Executive Board Chair financial

"for service as Non-Executive Board Chair until the 2027 Annual Stockholders Meeting"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did ALK director Patricia Bedient report?

Patricia M. Bedient reported receiving a grant of 6,483 Alaska Air Group common shares. The award is part of her compensation for Board service and Non-Executive Board Chair duties, rather than an open-market purchase of stock.

At what price were Patricia Bedient’s ALK shares granted?

The 6,483 Alaska Air Group shares were granted at a price of $38.56 per share. This value is typically used for compensation accounting and does not represent a cash purchase by the director in the open market.

How many ALK shares does Patricia Bedient hold after this grant?

Following the grant, Patricia Bedient holds 68,865 Alaska Air Group shares. This total includes current common stock and vested Deferred Stock Units that will convert into common shares when she resigns from the Board of Directors.

What is the purpose of the ALK 2016 Performance Incentive Plan?

The 2016 Performance Incentive Plan provides equity-based awards like stock grants and Deferred Stock Units. For Patricia Bedient, it delivers shares tied to her re-election and ongoing service as Non-Executive Board Chair through the 2027 annual stockholders meeting.

What are Deferred Stock Units (DSUs) held by Patricia Bedient at ALK?

Deferred Stock Units are fully vested units that convert into common shares later. Bedient’s total includes 22,914 DSUs from a 2008 plan and 2,625 DSUs from the 2016 plan, which will be paid in shares when she leaves the Board.

Is Patricia Bedient’s ALK stock grant a market purchase or compensation?

The transaction reflects a compensation-related stock grant, not a market purchase. The Form 4 identifies the code as a grant or award under Alaska Air Group’s performance incentive plans, linked to her Board re-election and service as Non-Executive Board Chair.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/14/2026 - 05:24 PM Learn about SEC filing dates

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^*

Bedient Patricia M

(Last) (First) (Middle)

C/O ALASKA AIR GROUP, INC.

19300 INTERNATIONAL BLVD

(Street)

SEATTLE WASHINGTON 98188

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/13/2026

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

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

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

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	05/13/2026		A		6,483(1)	A	$38.56	68,865(2)	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

Explanation of Responses:

1. Shares of Alaska Air Group, Inc. (the "Issuer") common stock granted under the Issuer's 2016 Performance Incentive Plan ("2016 PIP") in connection with the reporting person's re-election to serve on the Issuer's Board of Directors and for service as Non-Executive Board Chair until the 2027 Annual Stockholders Meeting.

2. Total held in column 5 includes 22,914 Deferred Stock Units (DSUs) previously granted under the Issuer's 2008 Performance Incentive Plan and 2,625 DSUs granted under the Issuer's 2016 PIP. The DSUs are 100% vested on the date of grant and issuable in common shares upon resignation from the Issuer's Board of Directors.

Remarks:

	/s/ Howard Kuppler, by power of attorney	05/14/2026
	** 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).
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.
* Form 4: SEC 1474 (03-26)