VON MUEHLEN CONSTANCE E 4

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.