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: LARSEN MARSHALL O (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	3207	Direct
2014-05-07	Air Lease Corporation - Class A Common Stock	A	601	$37.41	Acquired	3808	Direct

Footnotes

F1: Restricted stock units (RSUs) granted under the Air Lease Corporation 2014 Equity Incentive Plan, in connection with the reporting person's election to 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: Shares of the Issuer's Class A Common Stock issued under the Air Lease Corporation 2014 Equity Incentive Plan in payment of Board and Committee retainer fees in lieu of cash.