SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
SANDVIK HELVI KAY

(Last) (First) (Middle)
19300 INTERNATIONAL BLVD

(Street)
SEATTLE WA 98188

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
ALASKA AIR GROUP, INC. [ ALK ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
05/07/2020
4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
COMMON STOCK(1) 05/07/2020 A(2) 446 A $0 9,423 D
COMMON STOCK(3) 05/07/2020 A(4) 3,539 A $0 12,962 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. TOTAL HELD IN COLUMN 5 INCLUDES 4,108 DEFERRED STOCK UNITS (DSUs) PREVIOUSLY GRANTED UNDER THE ISSUER'S 2008 PERFORMANCE INCENTIVE PLAN AND 1,014 DSUs GRANTED UNDER THE ISSUER'S 2016 PERFORMANCE INCENTIVE PLAN. THE DSUs ARE 100% VESTED ON THE DATE OF GRANT AND ISSUABLE IN COMMON SHARES UPON RESIGNATION FROM THE ALASKA AIR GROUP, INC. BOARD OF DIRECTORS.
2. DIVIDEND EQUIVALENTS IN THE FORM OF DEFERRED STOCK UNITS (DSUs), GRANTED PURSUANT TO PREVIOUSLY REPORTED DSU AWARDS UNDER THE ISSUER'S 2008 PERFORMANCE INCENTIVE PLAN OR 2016 PERFORMANCE INCENTIVE PLAN. THE DSUs REPORTED ON THIS FORM ARE 100% VESTED ON THE DATE OF GRANT AND PAYABLE IN SHARES OF COMMON STOCK ON A ONE-FOR-ONE BASIS UPON THE REPORT PERSON'S RESIGNATION FROM THE ISSUER'S BOARD OF DIRECTORS.
3. TOTAL HELD IN COLUMN 5 INCLUDES 4,108 DEFERRED STOCK UNITS (DSUs) PREVIOUSLY GRANTED UNDER THE ISSUER'S 2008 PERFORMANCE INCENTIVE PLAN AND 1,460 DSUs GRANTED UNDER THE ISSUER'S 2016 PERFORMANCE INCENTIVE PLAN. THE DSUs ARE 100% VESTED ON THE DATE OF GRANT AND ISSUABLE IN COMMON SHARES UPON RESIGNATION FROM THE ALASKA AIR GROUP, INC. BOARD OF DIRECTORS.
4. SHARES OF ALASKA AIR GROUP COMMON STOCK GRANTED UNDER THE ISSUER'S 2016 PERFORMANCE INCENTIVE PLAN IN CONNECTION WITH THE REPORTING PERSON'S RE-ELECTION TO SERVE ON THE COMPANY'S BOARD OF DIRECTORS UNTIL THE 2020 ANNUAL STOCKHOLDERS MEETING.
/S/ JEANNE E GAMMON, ATTORNEY IN FACT FOR HELVI KAY SANDVIK 05/08/2020
** 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 4 (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.
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