X0306 4 2017-01-13 0 0001135185 ATLAS AIR WORLDWIDE HOLDINGS INC AAWW 0001226022 DIETRICH JOHN W 2000 WESTCHESTER AVENUE PURCHASE NY 10577 0 1 0 0 EVP & COO Common Stock, $0.01 par value 2017-01-13 4 M 0 28582 A 65194 D Common Stock, $0.01 par vaue 2017-01-13 4 F 0 14829 52.20 D 50365 D Performance Share Units 2017-01-13 4 M 0 14291 0.00 D Common Stock 28582 0 D Performance share units that were awarded for the three-year performance period ended December 31, 2016. As a result of the approval by the issuer's shareholders of the "Restricted Share Issuance" as described in the issuer's definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, as amended, on August 12, 2016, these performance share units were deemed satisfied at maximum performance levels and were no longer subject to performance-based vesting requirements. On January 13, 2017, they converted into a number of shares of Common Stock on a two-for-one basis in accordance with their terms. /s/ Michael W. Borkowski, as Attorney-in-Fact 2017-01-18