Alexander & Baldwin, Inc. — Director's Dealing 2012

Jul 4, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Alexander & Baldwin, Inc. (ALEX)
CIK: 0001545654
Period of Report: 2012-06-29

Reporting Person: PASQUALE DOUGLAS M (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-06-29	Common Stock	A	8552.0000	—	Acquired	24910.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-06-29	Stock Option	$23.7800	A	16422.0000	Acquired	2016-04-26	Common Stock (16422.0000)	Direct

Footnotes

F1: The acquisition involved three separate restricted stock unit awards that were made to the Reporting Person under the Issuer's 2012 Incentive Compensation Plan in connection with the distribution of the Issuer's outstanding common stock by Alexander & Baldwin Holdings, Inc. (now known as Matson, Inc.) to the stockholders of Alexander & Baldwin Holdings, Inc. in a pro-rata spin-off transaction. The reported awards were issued in replacement of three separate restricted stock unit awards covering an aggregate 4,167 shares of the common stock of Alexander & Baldwin Holdings, Inc. Each such replacement award was structured so as to preserve, at the time of replacement, the intrinsic value of the cancelled award to which it relates and retains the same vesting schedule that was in effect for that cancelled award.

F2: The award was made under the Issuer's 2012 Incentive Compensation Plan in connection with the distribution of the Issuer's outstanding common stock by Alexander & Baldwin Holdings, Inc. (now known as Matson, Inc.) to the stockholders of Alexander & Baldwin Holdings, Inc. in a pro-rata spin-off transaction. The reported award was issued in replacement of a cancelled stock option grant covering shares of the common stock of Alexander & Baldwin Holdings, Inc. and was structured so as to preserve, at the time of replacement, the intrinsic value of the cancelled stock option grant to which it relates.

F3: All shares are immediately exercisable.