What is Diana Birkett Rakow’s ALK share ownership after these transactions?

After the reported transactions, Diana Birkett Rakow directly owned 29,535 shares of Alaska Air Group common stock. She also held 4,090 restricted stock units, which are scheduled to vest in a future installment according to the RSU grant’s vesting schedule.

Alaska Air EVP reports ALK RSU vesting, tax share swap

Alaska Air Group executive Diana Birkett Rakow reported equity award activity involving company stock.

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Rhea-AI Filing Summary

Alaska Air Group executive Diana Birkett Rakow reported equity award activity involving company stock. On February 13, 2026, restricted stock units covering 5,160 shares and 4,090 shares of Alaska Air Group common stock converted into the same number of shares at an exercise price of $0 per share.

To cover tax withholding from these vestings, 1,943 shares and 1,637 shares of common stock were automatically withheld at a price of $55.27 per share, described as an exempt disposition to the issuer. After these transactions, she directly owned 29,535 shares of common stock and 4,090 RSUs.

Insider Trade Summary

9,250 shares exercised/converted

Exercise 6 txns

Insider BIRKETT RAKOW DIANA

Role EVP & CEO of Hawaiian Airlines

Type	Security	Shares	Price	Value
Exercise	RESTRICTED STOCK UNITS	5,160	$0.00	$0.00
Exercise	RESTRICTED STOCK UNITS	4,090	$0.00	$0.00
Exercise	COMMON STOCK	5,160	$0.00	$0.00
Exercise Price or Tax Liability	COMMON STOCK	1,943	$55.27	$107K
Exercise	COMMON STOCK	4,090	$0.00	$0.00
Exercise Price or Tax Liability	COMMON STOCK	1,637	$55.27	$90K

Holdings After Transaction: RESTRICTED STOCK UNITS — 4,090 contracts (Direct); COMMON STOCK — 29,535 shares (Direct)

Footnotes (4)

F1. Each restricted stock unit (RSUs) represents a contingent right to receive one share of ALK common stock.
F2. 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 RSUs and settled with shares by the reporting person.
F3. The RSUs vest as to 100% of the shares granted on February 13, 2026..
F4. The RSUs vesting were from a grant of 12,270 shares that vested or will vest in three annual installments as follows: 4,090 shares on February 13, 2025; 4,090 shares on February 13, 2026; and 4,090 shares on February 13, 2027.

FAQ

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What insider transaction did ALK executive Diana Birkett Rakow report?

Diana Birkett Rakow reported RSU conversions into Alaska Air Group common stock. On February 13, 2026, 5,160 and 4,090 restricted stock units converted into the same number of shares, reflecting equity compensation vesting rather than open-market stock purchases.

How many Alaska Air Group (ALK) shares vested for Diana Birkett Rakow?

A total of 9,250 shares vested for Diana Birkett Rakow through RSU conversions. These came from 5,160 and 4,090 restricted stock units, each RSU representing a contingent right to receive one share of Alaska Air Group common stock upon vesting.

Were any of Diana Birkett Rakow’s ALK transactions open-market purchases or sales?

No, the reported transactions were RSU conversions and tax withholding dispositions. The Form 4 shows derivative exercises at $0 per share and shares withheld at $55.27 to satisfy tax obligations, not discretionary open-market buying or selling of Alaska Air Group stock.

How many ALK shares were withheld for taxes from the RSU vesting?

A total of 3,580 shares were withheld to cover taxes from the RSU vesting. This consisted of 1,943 shares and 1,637 shares of Alaska Air Group common stock, withheld at a price of $55.27 per share in exempt dispositions to the issuer.

How do the RSUs reported by Diana Birkett Rakow for ALK vest over time?

One RSU grant of 12,270 shares vests in three equal annual installments. The schedule is 4,090 shares on February 13, 2025, 4,090 shares on February 13, 2026, and 4,090 shares on February 13, 2027, aligning with Alaska Air Group’s long-term equity compensation structure.

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

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 02/17/2026 - 06:28 PM

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^*

BIRKETT RAKOW DIANA

(Last)

(First)

(Middle)

ALASKA AIR GROUP, INC.

19300 INTERNATIONAL BLVD

(Street)

SEATTLE

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 & CEO of Hawaiian Airlines

3. Date of Earliest Transaction (Month/Day/Year)
02/13/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
COMMON STOCK	02/13/2026		M		5,160	A	$0⁽¹⁾	29,025	D
COMMON STOCK	02/13/2026		F		1,943⁽²⁾	D	$55.27	27,082	D
COMMON STOCK	02/13/2026		M		4,090	A	$0⁽¹⁾	31,172	D
COMMON STOCK	02/13/2026		F		1,637⁽²⁾	D	$55.27	29,535	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
RESTRICTED STOCK UNITS	$0⁽¹⁾	02/13/2026		M			5,160	⁽³⁾	⁽³⁾	COMMON STOCK	5,160	$0	0	D
RESTRICTED STOCK UNITS	$0⁽¹⁾	02/13/2026		M			4,090	⁽⁴⁾	⁽⁴⁾	COMMON STOCK	4,090	$0	4,090	D

Explanation of Responses:

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

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 RSUs and settled with shares by the reporting person.

3. The RSUs vest as to 100% of the shares granted on February 13, 2026..

4. The RSUs vesting were from a grant of 12,270 shares that vested or will vest in three annual installments as follows: 4,090 shares on February 13, 2025; 4,090 shares on February 13, 2026; and 4,090 shares on February 13, 2027.

Remarks:

	/s/ Howard Kuppler, by power of attorney	02/17/2026
	** 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.

Source: View Original Filing on SEC EDGAR