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

Jul 9, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALASKA AIR GROUP, INC. (ALK)
CIK: 0000766421
Period of Report: 2012-07-06

Reporting Person: MINICUCCI BENITO (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-07-06	COMMON STOCK	M	1914	$8.94	Acquired	49780	Direct
2012-07-06	COMMON STOCK	S	1914	$38.25	Disposed	47866	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-07-06	EMPLOYEE STOCK OPTION (RT TO BUY)	$8.94	M	1914	Disposed	2018-06-12	COMMON STOCK (1914)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
RESTRICTED STOCK UNIT	25600	Direct

Footnotes

F1: STOCK UNITS AWARDED UNDER THE 2008 PERFORMANCE INCENTIVE PLAN; SUBJECT TO FORFEITURE.

F2: SAME-DAY EXERCISE OF OPTIONS AND SALE EFFECTED PURSUANT TO A RULE 10b5-1 TRADING PLAN ADOPTED BY MR. MINICUCCI ON 06/15/2012.