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

Aug 8, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALASKA AIR GROUP, INC. (ALK)
CIK: 0000766421
Period of Report: 2012-08-06

Reporting Person: JOHNSON GLENN S (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-08-06	COMMON STOCK	A	44000	—	Acquired	59736	Direct
2012-08-06	COMMON STOCK	F	16038	$34.85	Disposed	43698	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
COMMON STOCK 401(K)	2278	Indirect
RESTRICTED STOCK UNIT	23600	Direct

Footnotes

F1: SHARES HELD IN THE ALASKA AIR GROUP INC. EMPLOYEE STOCK OWNERSHIP 401(K) PLAN TRUST AS OF DECEMBER 31, 2011.

F2: STOCK UNITS AWARDED UNDER THE 2008 PERFORMANCE INCENTIVE PLAN; NOT VESTED BUT NO LONGER SUBJECT TO FORFEITURE.

F3: PERFORMANCE STOCK UNITS AWARDED TO MR. JOHNSON ON JUNE 10, 2010 UNDER THE ALASKA AIR GROUP, INC. 2008 PERFORMANCE INCENTIVE PLAN.

F4: SHARES WITHHELD BY THE ISSUER TO COVER PAYROLL TAXES DUE UPON VESTING OF MR. JOHNSON'S PERFORMANCE STOCK UNIT AWARD.