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

Mar 13, 2012

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: ALASKA AIR GROUP INC (ALK)
CIK: 0000766421
Period of Report: 2012-03-12

Reporting Person: ELIASEN MARK G (N/A)

Holdings (Non-Derivative)

Security	Shares	Ownership
COMMON STOCK ESPP	546	Direct
COMMON STOCK 401(K)	133	Indirect
RESTRICTED STOCK UNIT	4694	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
EMPLOYEE STOCK OPTION (RT TO BUY)	$26.22	2019-09-14	COMMON STOCK (5384)		Direct
EMPLOYEE STOCK OPTION (RT TO BUY)	$33.26	2020-02-03	COMMON STOCK (1320)		Direct
EMPLOYEE STOCK OPTION (RT TO BUY)	$61.3	2021-02-07	COMMON STOCK (880)		Direct
EMPLOYEE STOCK OPTION (RT TO BUY)	$76	2022-02-14	COMMON STOCK (1220)		Direct

Footnotes

F1: SHARES ACQUIRED UNDER THE ALASKA AIR GROUP, INC. 2010 EMPLOYEE STOCK PURCHASE PLAN, AS OF MARCH 6, 2012.

F2: SHARES HELD IN THE ALASKA AIR GROUP INC. EMPLOYEE STOCK OWNERSHIP 401(K) PLAN TRUST AS OF MARCH 6, 2012.

F3: STOCK UNITS AWARDED UNDER ALASKA AIR GROUP'S 2008 PERFORMANCE INCENTIVE PLAN; SUBJECT TO FORFEITURE.

F4: OPTIONS GRANTED WILL VEST IN EQUAL INSTALLMENTS OVER FOUR YEARS BEGINNING ON THE FIRST ANNIVERSARY OF THE GRANT DATE.