[Form 4] Alaska Air Group, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Alaska Air Group (ALK) – SEC Form 4 (filed 07/29/25)

EVP & Chief Commercial Officer Andrew R. Harrison reported an open-market sale (Code “S”) of 7,600 common shares on 07/28/25 at a weighted-average price of $53.2238. The filing notes that trades occurred within a $53.21-$53.26 range. After the transaction, Harrison’s directly held position declined to 18,930 shares.

No derivative activity or additional transactions were disclosed. The sale represents a partial reduction of the executive’s direct ownership; he remains an officer of the company. No reasons for the sale (e.g., personal liquidity, preset plan) are provided in the filing.

Positive

• None.

Negative

• Executive sale: EVP & CCO Andrew Harrison sold 7,600 shares, potentially signaling reduced insider confidence though sale size is modest.

Insights

Securities Analyst

TL;DR: EVP sold 7.6k ALK shares; modest size, mildly negative insider signal.

The disposition equals a mid-five-figure share block at ~USD 53, trimming Harrison’s stake by roughly 29%. While executives routinely diversify, sales—especially absent a 10b5-1 reference—can be read as incrementally bearish. The remaining 18.9k shares show continued exposure, limiting downside interpretation. Volume is immaterial to ALK’s float, so price impact should be negligible. Overall, the filing is marginally negative sentiment but not fundamentally impactful to the investment thesis.

Corporate Governance Expert

TL;DR: Routine compliance filing; neutral governance impact.

Form 4 was timely (<48 hrs) and includes weighted-average pricing detail, demonstrating adherence to Section 16 reporting standards. No red flags—no late filing, no undisclosed derivatives, and the officer still retains a meaningful equity interest, aligning incentives with shareholders. Therefore, from a governance perspective, the disclosure is procedurally sound and neutral.

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
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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).

1. Name and Address of Reporting Person^*

HARRISON ANDREW R

(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 AND CCO

3. Date of Earliest Transaction (Month/Day/Year)
07/28/2025

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
COMMON STOCK	07/28/2025		S		7,600	D	$53.2238(1)	18,930	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. The price reported in column 4 is a weighted average price. These shares sold in multiple transactions at prices ranging from $53.2100 to $53.2600, inclusive. The reporting person undertakes to provide to Alaska Air Group, Inc., any security holder of Alaska Air Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

Remarks:

	/s/ Howard Kuppler, by power of attorney	07/29/2025
	** 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

How many ALK shares did EVP Andrew Harrison sell?

He sold 7,600 common shares on 07/28/25.

What price did the Alaska Air insider receive?

The weighted-average price was $53.2238, within a $53.21–$53.26 range.

How many ALK shares does Harrison still own after the sale?

He retains 18,930 shares of Alaska Air Group common stock.

Did the Form 4 mention any derivative transactions?

No, Table II shows zero derivative activity for this filing.

When was the Form 4 for Alaska Air filed?

It was certified and filed on 07/29/2025.