MINICUCCI BENITO 4
4 · ALASKA AIR GROUP, INC. · Filed Feb 17, 2026
Research Summary
AI-generated summary of this filing
Alaska Air (ALK) CEO Benito Minicucci Receives RSUs; Withholds Shares
What Happened
Benito Minicucci, CEO & President (and Director) of Alaska Air Group (ALK), had restricted stock units (RSUs) convert to common shares on Feb 13, 2026. The Form 4 shows conversion/exercise (code M) of 39,160 and 22,720 RSU-derived shares (acquired at $0). To cover tax withholding (code F), 14,747 and 8,556 shares were withheld/disposed to the issuer at $55.27 per share, producing proceeds of $815,067 and $472,890 respectively (total withheld = 23,303 shares; total proceeds ≈ $1,287,957). These were routine tax-withholding transactions rather than open-market sales.
Key Details
- Transaction date: February 13, 2026; Form 4 filed February 17, 2026 (filed on the next business day after the federal holiday—appears timely).
- Conversions (M): 39,160 and 22,720 shares acquired at $0.
- Tax withholding (F): 14,747 and 8,556 shares withheld at $55.27 for $815,067 and $472,890 (total ≈ $1.29M).
- Shares withheld were an exempt disposition to the issuer under Rule 16b-3(e) to satisfy tax withholding obligations (footnote F2).
- Footnotes: F1 = each RSU equals one share; F3/F4 describe vesting schedule (a grant of 68,160 shares vesting in installments, with vesting activity on Feb 13, 2026).
- Shares owned after the transaction: not stated on this filing.
Context
This was a vesting/conversion of RSUs with a cashless-style tax withholding to the company—not an open-market sale. Such withholding to cover taxes is a routine administrative action and does not necessarily signal insider buying or selling intent. The Form 4 indicates standard tax withholding treatment for vested equity.
Insider Transaction Report
- Exercise/Conversion
COMMON STOCK
[F1]2026-02-13+39,160→ 232,165 total - Tax Payment
COMMON STOCK
[F2]2026-02-13$55.27/sh−14,747$815,067→ 217,418 total - Exercise/Conversion
COMMON STOCK
[F1]2026-02-13+22,720→ 240,138 total - Tax Payment
COMMON STOCK
[F2]2026-02-13$55.27/sh−8,556$472,890→ 231,582 total - Exercise/Conversion
RESTRICTED STOCK UNITS
[F1][F3]2026-02-13−39,160→ 0 totalExercise: $0.00→ COMMON STOCK (39,160 underlying) - Exercise/Conversion
RESTRICTED STOCK UNITS
[F1][F4]2026-02-13−22,720→ 22,720 totalExercise: $0.00→ COMMON STOCK (22,720 underlying)
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 shares vest as to 100% of the shares granted on February 13, 2026.
- [F4]The restricted stock units vesting were from a grant of 68,160 shares that have vested or will vest in three equal installments as follows: 22,720 shares on February 13, 2025; 22,720 shares on February 13, 2026; and 22,720 shares on February 13, 2027.