X0306 4 2016-03-28 0000003453 Matson, Inc. MATX 0001206921 DODS WALTER A JR 999 BISHOP STREET 28TH FLOOR HONOLULU HI 96813 1 Common Stock 2016-03-28 4 M 0 15598.0000 25.0400 A 138251.9842 D Common Stock 2000.0000 I By DH Realty Partners, LLC Stock option 25.0400 2016-03-28 4 M 0 15598.0000 0.0000 D 2007-04-27 2016-04-26 Common Stock 15598.0000 0.0000 D The reported number of shares of the Issuer's common stock and the exercise price payable per share were appropriately adjusted, in accordance with the anti-dilution provisions applicable to the option grant, to reflect the distribution by Issuer of the outstanding shares of Alexander & Baldwin, Inc. (a newly-formed subsidiary formerly known as A&B II, Inc.) to the Issuer's stockholders in a pro-rata spin-off transaction at the close of business on June 29, 2012. Those adjustments preserved the intrinsic value that exists with respect to the option grant immediately prior to such distribution. The reported number of shares includes shares acquired under a Dividend Reinvestment Program pursuant to Rule 16a-11. /s/ Walter A. Dods, Jr. 2016-03-29