VON MUEHLEN CONSTANCE E 4

4 · ALASKA AIR GROUP, INC. · Filed Feb 17, 2026

AI-generated summary of this filing

Updated Feb 17, 2026

Alaska Air (ALK) EVP Constance Von Muehlen Receives RSU Vesting

What Happened

Constance E. Von Muehlen, EVP & Advisor to the COO of Alaska Air Group (ALK), had restricted stock units (RSUs) convert to common shares on 2026-02-13. The filing shows conversions of 13,160 and 8,860 RSUs (total 22,020 shares) at $0.00 per share (conversion of derivative/RSU).
To satisfy tax-withholding obligations, 4,956 and 3,337 shares (total 8,293 shares) were withheld by the issuer at an effective price of $55.27 per share, resulting in cash value withheld of $273,918 and $184,436 (total ~$458,354). Net shares delivered to the reporting person = 22,020 − 8,293 = 13,727 shares.

Key Details

Transaction date: 2026-02-13; filing date: 2026-02-17.
Conversion price: $0.00 (RSU settlement); withholding price: $55.27 per share.
Withheld shares for taxes: 8,293 shares; withholding cash value ≈ $458,354.
Footnotes: F1—each RSU equals one share on settlement; F2—withheld shares were an exempt disposition to the issuer under Rule 16b-3(e) to satisfy tax withholding; F3—RSUs vested as to 100% of the shares granted on Feb 13, 2026; F4—these RSUs relate to a grant described as 26,580 shares that vest in three equal installments of 8,860 each (2025–2027).
Shares owned after the transaction are not provided in the excerpt of the filing.
The filing does not indicate a late Form 4 beyond the reported filing date.

Context

This was an RSU vesting and settlement event (conversion of contingent awards), not an open-market sale or purchase. The “M” code reflects conversion/exercise of a derivative (here, RSU conversion); the “F” code reflects shares withheld to cover taxes.
Withholding to satisfy taxes is routine and does not necessarily indicate a change in the insider’s market view.

Form 4Exit

Period: 2026-02-13

EVP & Advisor to COO

Transactions

Exercise/Conversion
COMMON STOCK
[F1]
2026-02-13+13,160→ 46,772 total
Tax Payment
COMMON STOCK
[F2]
2026-02-13$55.27/sh−4,956$273,918→ 41,816 total
Exercise/Conversion
COMMON STOCK
[F1]
2026-02-13+8,860→ 50,676 total
Tax Payment
COMMON STOCK
[F2]
2026-02-13$55.27/sh−3,337$184,436→ 47,339 total
Exercise/Conversion
RESTRICTED STOCK UNITS
[F1][F3]
2026-02-13−13,160→ 0 total
Exercise: $0.00From: 2026-05-04Exp: 2026-05-04→ COMMON STOCK (13,160 underlying)
Exercise/Conversion
RESTRICTED STOCK UNITS
[F1][F4]
2026-02-13−8,860→ 8,860 total
Exercise: $0.00→ COMMON STOCK (8,860 underlying)

Holdings

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 26,580 shares that vested or will vest in three equal installments as follows: 8,860 shares on February 13, 2025; 8,860 shares on February 13, 2026; and 8,860 shares on February 13, 2027.

Signature

/s/ Howard Kuppler, by power of attorney|2026-02-17

1 file