AIR LEASE CORP — Director's Dealing 2014

May 9, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AIR LEASE CORP (AL)
CIK: 0001487712
Period of Report: 2014-05-07

Reporting Person: SUGAR RONALD D (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-05-07	Air Lease Corporation - Class A Common Stock	A	3207	—	Acquired	13831	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Air Lease Corporation- Class A Common Stock	50000	Indirect

Footnotes

F1: Restricted stock units (RSUs) granted under the Air Lease Corporation 2014 Equity Incentive Plan, in connection with the reporting person's service as a member of the Board of Directors of the Issuer. Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock. Subject to certain conditions, all of these RSUs will vest in full on May 7, 2015, the first anniversary of the grant date.

F2: These shares are held by a trust of which the reporting person is a co-trustee.