X0202 4 2005-05-18 0 0001158463 JETBLUE AIRWAYS CORP JBLU 0001187891 PETERSON JOEL CLINTON JETBLUE AIRWAYS CORPORATION 118-29 QUEENS BLVD. FOREST HILLS NY 11375 1 0 0 0 Stock Option (Right to Purchase) 22.13 2005-05-18 4 A 0 9000 0 A 2005-05-18 2015-05-18 Common Stock 9000 9000 D The option was granted under the issuer's 2002 Stock Incentive Plan. The option is immediately exercisable for any or all of the shares underlying the option. However, any shares purchased under the option will be subject to repurchase by the Issuer, at the lower of the option price paid per share or the fair market value per share, should the reporting person cease service on the Issuer's board of directors prior to vesting in the shares. The shares subject to the option will vest upon the reporting person's completion of one year of service on the issuer's board of directors. Joel Peterson 2005-05-18