SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

SPRAGUE JOSEPH A

(Last)

(First)

(Middle)

C/O ALASKA AIRLINES, INC.

19300 INTERNATIONAL BLVD

(Street)

SEATTLE

98188

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
11/06/2019

3. Issuer Name and Ticker or Trading Symbol
ALASKA AIR GROUP, INC. [ ALK ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	PRESIDENT-HORIZON AIR

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
COMMON STOCK 401(K)⁽¹⁾	7,049	I	ESOP TRUST
COMMON STOCK	12,857	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
EMPLOYEE STOCK OPTION (RT TO BUY)	02/11/2017⁽²⁾	02/11/2023	COMMON STOCK	1,380	$24.4	D
EMPLOYEE STOCK OPTION (RT TO BUY)	02/11/2018⁽²⁾	02/11/2024	COMMON STOCK	3,190	$38.755	D
EMPLOYEE STOCK OPTION (RT TO BUY)	05/12/2018⁽²⁾	05/12/2024	COMMON STOCK	1,410	$48.945	D
EMPLOYEE STOCK OPTION (RT TO BUY)	02/10/2019⁽²⁾	02/10/2025	COMMON STOCK	2,648	$65.37	D
EMPLOYEE STOCK OPTION (RT TO BUY)	02/09/2020⁽³⁾	02/09/2026	COMMON STOCK	4,190	$65.63	D
EMPLOYEE STOCK OPTION (RT TO BUY)	02/14/2020⁽⁴⁾	02/14/2027	COMMON STOCK	2,542	$96.3	D

Explanation of Responses:

1. COMMON SHARES HELD IN THE ALASKA AIR GROUP, INC. EMPLOYEE STOCK OWNERSHIP 401(K) PLAN TRUST AS OF 11/06/2019.

2. OPTIONS VESTED IN 25% INCREMENTS ANNUALLY FROM DATE OF GRANT; OPTIONS ARE NOW FULLY EXERCISABLE.

3. OPTIONS VESTED IN 25% INCREMENTS ANNUALLY FROM DATE OF GRANT; 1048 OF THESE OUTSTANDING OPTIONS WILL VEST ON 02/09/2020 AND 3142 OF THE OPTIONS ARE FULLY VESTED.

4. OPTIONS VESTED IN 25% INCREMENTS ANNUALLY FROM DATE OF GRANT; 847 OF THE OUTSTANDING OPTIONS WILL VEST ON 02/14/2020 AND 1695 OF THE OPTIONS ARE FULLY VESTED.

	JEANNE E. GAMMON (ATTORNEY IN FACT FOR JOSEPH A. SPRAGUE)	11/12/2019
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.