Alexander & Baldwin, Inc. — Director's Dealing 2013

Jan 31, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Alexander & Baldwin, Inc. (ALEX)
CIK: 0001545654
Period of Report: 2013-01-28

Reporting Person: CHING MEREDITH J (Sr. Vice Pres. Gov't Rel.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-01-28	Common Stock	A	2639.0000	$0.0000	Acquired	33488.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-01-28	Performance Rights	$	A	2639.0000	Acquired	2014-12-31	Common Stock (2639.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	386.3620	Indirect

Footnotes

F1: Restricted stock units issued under the Issuer's 2012 Incentive Compensation Plan that vest in three equal annual installments beginning a year from the transaction date.

F2: Represents shares of the Issuer's common stock underlying performance share units that are subject to both performance-vesting and service-vesting requirements. The performance vesting requirement is tied to the Issuer's total shareholder return relative to that of the companies comprising the S&P MidCap 400 Index over a two-year performance period coincident with the 2013 and 2014 calendar years. The level at which that performance goal is attained will determine the number of shares of the Issuer's common stock that will become issuable under the performance share units and will range from 35% of the number of reported shares at threshold level attainment to 100% of the reported shares at target level attainment to 150% of the reported shares at maximum level attainment. The Reporting Person will vest in all of the shares of the Issuer's common stock that become so issuable, provided the Reporting Person continues in the Issuer's employ through (footnote continued in Remarks below)