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

Jul 3, 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: Morvis George M JR (Vice President Corporate Devel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-06-29	Common Stock	A	5546.0000	—	Acquired	5546.0000	Direct

Footnotes

F1: The acquisition involved a restricted stock unit award that was 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 award was issued in replacement of a restricted stock unit award of 2,702 shares of the common stock of Alexander & Baldwin Holdings, Inc. The 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.