Alaska Air (ALK) director Peter Shimer receives 5,186-share equity grant

Rhea-AI Filing Summary

Alaska Air Group director Peter A. Shimer received an equity grant tied to his board service. He acquired 5,186 shares of common stock, valued at $38.56 per share, as a grant or award. Following this transaction, he directly holds a total of 7,839 common shares.

The footnotes explain that the award consists of deferred stock units (DSUs) granted under the Alaska Air Group 2016 Performance Incentive Plan in connection with his re-election to the Board of Directors through the 2027 Annual Stockholders Meeting. These DSUs are fully vested and will be settled in an equal number of common shares after he resigns from the board.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Shimer Peter A

Role null

Type	Security	Shares	Price	Value
Grant/Award	COMMON STOCK	5,186	$38.56	$200K

Holdings After Transaction: COMMON STOCK — 7,839 shares (Direct, null)

Footnotes (1)

1. Deferred stock units (DSUs) granted under the Alaska Air Group, Inc. (the "Issuer") 2016 Performance Incentive Plan ("2016 PIP") in connection with the reporting person's re-election to serve on the Board of Directors until the 2027 Annual Stockholders Meeting. The DSUs are 100% vested and payable in shares of the Issuer's common stock on a one-for-one basis following the resignation of the reporting person from the Issuer's Board of Directors. Total held in column 5 includes 2,653 DSUs previously granted under the Issuers 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

Equity grant size: 5,186 shares Grant valuation price: $38.56 per share Total shares after grant: 7,839 shares +1 more

4 metrics

Equity grant size 5,186 shares Common stock grant to director on May 13, 2026

Grant valuation price $38.56 per share Valuation for non-derivative common stock award

Total shares after grant 7,839 shares Director’s direct common stock holdings following transaction

Previously granted DSUs 2,653 units Deferred stock units from earlier awards included in total

Key Terms

Deferred stock units (DSUs), 2016 Performance Incentive Plan, Annual Stockholders Meeting, Board of Directors

4 terms

Deferred stock units (DSUs) financial

"Deferred stock units (DSUs) granted under the Alaska Air Group, Inc. (the "Issuer") 2016 Performance Incentive Plan"

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

"granted under the Alaska Air Group, Inc. (the "Issuer") 2016 Performance Incentive Plan ("2016 PIP")"

Annual Stockholders Meeting financial

"re-election to serve on the Board of Directors until the 2027 Annual Stockholders Meeting"

Board of Directors financial

"following the resignation of the reporting person from the Issuer's Board of Directors"

The Board of Directors is a group of people chosen by a company's owners to help make big decisions and oversee how the company is run. They act like a team of advisors or managers, making sure the company stays on track and meets its goals. Their choices can influence the company's success and how it grows.

Form 4 Insider Transactions: What Each Field Means →

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^*

Shimer Peter A

(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		5,186(1)	A	$38.56	7,839(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. Deferred stock units (DSUs) granted under the Alaska Air Group, Inc. (the "Issuer") 2016 Performance Incentive Plan ("2016 PIP") in connection with the reporting person's re-election to serve on the Board of Directors until the 2027 Annual Stockholders Meeting. The DSUs are 100% vested and payable in shares of the Issuer's common stock on a one-for-one basis following the resignation of the reporting person from the Issuer's Board of Directors.

2. Total held in column 5 includes 2,653 DSUs previously granted under the Issuers 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)

FAQ

What did ALASKA AIR GROUP (ALK) director Peter A. Shimer report in this Form 4?

Peter A. Shimer reported receiving 5,186 common shares of Alaska Air Group as a grant or award. The equity was issued as deferred stock units linked to his re-election to the Board of Directors, reflecting routine, compensation-related stock-based pay.

How many ALK shares does Peter A. Shimer hold after this reported transaction?

After the grant, Peter A. Shimer holds 7,839 Alaska Air Group common shares directly. This total includes 2,653 deferred stock units previously granted, which are fully vested and will convert into an equal number of common shares after he leaves the board.

What is the nature of the 5,186-share equity grant to ALK director Peter A. Shimer?

The 5,186-share grant is classified as a grant, award, or other acquisition of common stock. It was issued as deferred stock units under Alaska Air Group’s 2016 Performance Incentive Plan in connection with Shimer’s re-election to the Board of Directors.

At what price per share was Peter A. Shimer’s ALK equity grant valued?

The 5,186-share grant to Peter A. Shimer was valued at $38.56 per Alaska Air Group common share. This valuation figure appears in the Form 4 as the price per share for the non-derivative equity award he received.

When will Peter A. Shimer’s ALK deferred stock units be paid out as common shares?

Peter A. Shimer’s deferred stock units will be paid in Alaska Air Group common shares after he resigns from the Board of Directors. Each unit converts into one share, with both the new and prior DSU grants fully vested on the grant dates.

Under which plan were Peter A. Shimer’s ALK deferred stock units granted?

The deferred stock units were granted under Alaska Air Group’s 2016 Performance Incentive Plan. This plan governs stock-based compensation, and the DSUs issued to Peter A. Shimer are fully vested and linked to his service and re-election to the Board of Directors.