ALASKA AIR GROUP, INC. — Director's Dealing 2012

Feb 1, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALASKA AIR GROUP INC (ALK)
CIK: 0000766421
Period of Report: 2012-01-30

Reporting Person: PEDERSEN BRANDON (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-01-30	COMMON STOCK	A	3290	—	Acquired	8520	Direct
2012-01-30	RESTRICTED STOCK UNIT	J	3290	—	Disposed	4955	Direct
2012-01-30	COMMON STOCK	F	920	$74.56	Disposed	7600	Direct

Footnotes

F1: COMMON SHARES ACQUIRED UPON VESTING OF RSUs ON JANUARY 30, 2012.

F2: STOCK UNITS FULLY VESTED AND ISSUED ON JANUARY 30, 2012.

F3: STOCK UNITS WITHHELD TO COVER PAYROLL TAXES UPON VESTING OF RSUs ON JANUARY 30, 2012.