Jason M. Berry - Mar 20, 2025 Form 4 Insider Report for ALASKA AIR GROUP, INC. (ALK)

Role: EVP AAG Cargo & Pres Horizon
Signature: /s/ Howard Kuppler, by power of attorney
Stock symbol: ALK
Transactions as of: Mar 20, 2025
Transactions value $: -$8,985
Form type: 4
Date filed: 3/21/2025, 05:57 PM
Previous filing: Feb 18, 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ALK	COMMON STOCK	Options Exercise		+697	+20.49%		4.1K	Mar 20, 2025	Direct	F1
transaction	ALK	COMMON STOCK	Tax liability	-$8.98K	-170	-4.15%	$52.85	3.93K	Mar 20, 2025	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ALK	RESTRICTED STOCK UNITS	Options Exercise	$0	-697	-50%	$0.00	697	Mar 20, 2025	COMMON STOCK	697		Direct	F1, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
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 vesting were from a grant of 2,090 shares that vested or will vest in three annual installments as follows: 696 shares on March 20, 2024; 697 shares on March 20, 2025, and 697 shares on March 20, 2026.