AIR LEASE CORP — Director's Dealing 2016

Feb 26, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AIR LEASE CORP (AL)
CIK: 0001487712
Period of Report: 2016-02-24

Reporting Person: UDVAR-HAZY STEVEN F (Director, Chairman and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-02-24	Air Lease Corporation - Class A Common Stock	A	13073	—	Acquired	793232	Direct
2016-02-25	Air Lease Corporation -Class A Common Stock	A	111261	—	Acquired	904493	Direct
2016-02-25	Air Lease Corporation - Class A Common Stock	F	54018	$29.56	Disposed	850475	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Air Lease Corporation - Class A Common Stock	1209558	Indirect
Air Lease Corporation - Class A Common Stock	27700	Indirect
Air Lease Corporation Class A Common Stock	10500	Indirect
Air Lease Corporation - Class A Common Stock	13000	Indirect
Air Lease Corporation- Class A Common Stock	18000	Indirect
Air Lease Corporation -Class A Common Stock	10500	Indirect
Air Lease Corporation - Class A Common Stock	328889	Indirect
Air Lease Corporation - Class A Common Stock	101667	Indirect
Air Lease Corporation - Class A Common Stock	35925	Indirect
Air Lease Corporation - Class A Common Stock	2700000	Indirect

Footnotes

F1: Shares issued upon the vesting of performance-based restricted stock units granted in February 2013 and February 2014 under the Amended and Restated Air Lease Corporation 2010 Equity Incentive Plan and in February 2015 under the Air Lease Corporation 2014 Equity Incentive Plan.

F2: These shares are held by the Udvar-Hazy Separate Property Trust, of which the reporting person is the trustee.

F3: These shares are owned by the reporting person's wife. The reporting person expressly disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed to be an admission of beneficial ownership of the reported shares for purposes of Section 16 or for any other purpose.

F4: These shares are owned by one of the reporting person's daughters. The reporting person expressly disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed to be an admission of beneficial ownership of the reported shares for purposes of Section 16 or for any other purpose.

F5: These shares are owned by one of the reporting person's sons. The reporting person expressly disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of the reported shares for purposes of Section 16 or for any other purpose

F6: These shares are held by Air Intercontinental, Inc., of which the reporting person is the sole stockholder and one of three directors.

F7: These shares are held by Ocean Equities, Inc. A trust, of which the reporting person is the trustee, is the sole stockholder of Ocean Equities, Inc. The reporting person is also one of three directors of Ocean Equities, Inc.

F8: These shares are held by Emerald Financial LLC. A trust, of which the reporting person is the trustee, controls a majority of the membership interests of Emerald Financial LLC. Additionally, the reporting person is one of three managers of Emerald Financial LLC.

F9: These shares are held by the Hazy Family Community Trust 5/28/85, of which the reporting person is the trustee