HALVERSON EMILY 4

What Happened
Emily Halverson, VP Finance, Controller & Treasurer of Alaska Air Group (ALK), received shares from compensation awards on February 10, 2026. Specifically, 2,524 shares were acquired upon vesting of Performance Stock Units (PSUs) and she was granted 2,670 restricted stock units (RSUs) (derivative award). To satisfy tax withholding on the PSU vesting, 760 shares were withheld/disposed at $59.14 each, yielding $44,946. The awards themselves show a $0 exercise/price (standard for vesting/grants); at the recent price of ~$59, the vested+granted units represent roughly $307K of market value.

Key Details

• Transaction date: February 10, 2026; Form filed February 12, 2026 (timely filing).
• Items reported:
  • A (acquisition): 2,524 shares from PSU vesting @ $0.00 (F1 — vesting certified by Compensation Committee).
  • F (tax withholding/exempt disposition): 760 shares withheld/disposed @ $59.14 for tax withholding = $44,946 (F2 — exempt under Rule 16b-3(e)).
  • A (derivative grant): 2,670 RSUs @ $0.00 (F3/F4 — each RSU = right to one share; vesting in three annual installments of 890 shares on Feb 10 of 2027, 2028 and 2029).
• Shares owned after the transaction: Not specified in the provided filing details.
• Footnotes: F1 = PSU vesting after meeting 3-year performance goals through 12/31/2025; F2 = shares withheld to cover taxes; F3 = RSU = contingent right to one share; F4 = RSU vest schedule (890/890/890).

Context
This activity is compensation-related (PSU vesting and RSU grant), not an open-market purchase or an investment sale. The 760-share disposition was a routine, exempt withholding to cover tax obligations rather than a market sale signaling a change in investment stance. RSUs are contingent awards that vest over time, so the 2,670 RSUs are not immediate free shares — they convert to shares per the schedule in footnote F4.