ALASKA AIR GROUP, INC. — Director's Dealing 2021

May 7, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALASKA AIR GROUP, INC. (ALK)
CIK: 0000766421
Period of Report: 2021-05-06

Reporting Person: Bedient Patricia M (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-06	COMMON STOCK	A	1566	—	Acquired	51341	Direct

Footnotes

F1: TOTAL HELD IN COLUMN 5 INCLUDES 22,914 DEFERRED STOCK UNITS (DSUs) PREVIOUSLY GRANTED UNDER THE ISSUER'S 2008 PERFORMANCE INCENTIVE PLAN AND 2,625 DSUs GRANTED UNDER THE ISSUER'S 2016 PERFORMANCE INCENTIVE PLAN . THE DSUS ARE 100% VESTED ON THE DATE OF GRANT AND ISSUABLE IN COMMON SHARES UPON RESIGNATION FROM THE ALASKA AIR GROUP, INC. BOARD OF DIRECTORS.

F2: SHARES OF ALASKA AIR GROUP COMMON STOCK GRANTED UNDER THE ISSUER'S 2016 PERFORMANCE INCENTIVE PLAN IN CONNECTION WITH THE REPORTING PERSON'S RE-ELECTION TO SERVE ON THE COMPANY'S BOARD OF DIRECTORS UNTIL THE 2022 ANNUAL STOCKHOLDERS MEETING.