Sec Form 4 Filing - MINICUCCI BENITO @ ALASKA AIR GROUP, INC. - 2016-12-07

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person MINICUCCI BENITO 2. Issuer Name and Ticker or Trading Symbol ALASKA AIR GROUP, INC. [ ALK] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) PRES & COO (Last) (First) (Middle) 19300 INTERNATIONAL BLVD 3. Date of Earliest Transaction (MM/DD/YY) 12/07/2016 (Street) SEATTLE, WA98188 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 RESTRICTED STOCK UNIT ( 1 ) 19,130 D COMMON STOCK 12/07/2016 M 1,640 A $ 19 61,094 D COMMON STOCK 12/07/2016 M 4,978 A $ 24.4 66,072 D COMMON STOCK 12/07/2016 M 3,050 A $ 38.755 69,122 D COMMON STOCK 12/07/2016 M 2,230 A $ 48.945 71,352 D COMMON STOCK 12/07/2016 M 3,620 A $ 0 74,972 D COMMON STOCK 12/07/2016 M 1,640 A $ 0 76,612 D COMMON STOCK 12/07/2016 S 11,426 ( 5 ) D $ 85.1178 65,186 D COMMON STOCK 12/07/2016 S 472 ( 6 ) D $ 85.6597 64,714 D COMMON STOCK 12/07/2016 F 1,139 ( 7 ) D $ 87.67 63,575 D COMMON STOCK 12/08/2016 G V 250 D $ 0 63,325 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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 of Derivative Security: 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 EMPLOYEE STOCK OPTION (RT TO BUY) $ 19 12/07/2016 M 1,640 02/14/2013 02/14/2022 COMMON STOCK 1,640 $ 0 3,620 D EMPLOYEE STOCK OPTION (RT TO BUY) $ 24.4 12/07/2016 M 4,978 02/11/2014( 2 ) 02/11/2023 COMMON STOCK 4,978 $ 0 4,986 D EMPLOYEE STOCK OPTION (RT TO BUY) $ 38.755 12/07/2016 M 3,050 02/11/2015( 3 ) 02/11/2024 COMMON STOCK 3,050 $ 0 6,100 D EMPLOYEE STOCK OPTION (RT TO BUY) $ 48.945 12/07/2016 M 2,230 05/12/2015( 4 ) 05/12/2024 COMMON STOCK 2,230 $ 0 2,230 D EMPLOYEE STOCK OPTION (RT TO BUY) $ 19 12/07/2016 M 3,620 02/14/2013 02/14/2022 COMMON STOCK 3,620 $ 0 0 D EMPLOYEE STOCK OPTION (RT TO BUY) $ 19 12/07/2016 M 1,640 02/13/2013 02/14/2022 COMMON STOCK 1,640 $ 0 0 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other MINICUCCI BENITO 19300 INTERNATIONAL BLVD SEATTLE, WA98188 PRES & COO Signatures /S/ JEANNE E. GAMMON, ATTORNEY IN FACT FOR BENITO MINICUCCI 12/09/2016 Signature of Reporting Person Date

Explanation of Responses:

( 1 )STOCK UNITS AWARDED UNDER THE 2008 PERFORMANCE INCENTIVE PLAN; SUBJECT TO FORFEITURE. ( 2 )REMAINING OPTIONS VEST ON 02/11/2017. ( 3 )REMAINING OPTIONS VEST AS FOLLOWS: 3,050 ON 2/11/2017 AND 3,050 ON 2/11/2018. ( 4 )REMAINING OPTIONS VEST AS FOLLOWS: 1,114 ON 05/12/2017 AND 1,116 ON 05/12/2018. ( 5 )THE PRICE REPORTED IN COLUMN 4 IS A WEIGHTED AVERAGE PRICE. THESE SHARES SOLD IN MULTIPLE TRANSACTIONS AT PRICES RANGING FROM $84.52 TO $85.51, INCLUSIVE. THE REPORTING PERSON UNDERTAKES TO PROVIDE TO ALASKA AIR GROUP, ANY SECURITY HOLDER OF ALASKA AIR GROUP, OR THE STAFF OF THE SECURITIES AND EXCHANGE COMMISSION, UPON REQUEST, FULL INFORMATION REGARDING THE NUMBER OF SHARES SOLD AT EACH SEPARATE PRICE WITHIN THE RANGES SET FORTH IN THIS FOOTNOTE. ( 6 )THE PRICE REPORTED IN COLUMN 4 IS A WEIGHTED AVERAGE PRICE. THESE SHARES SOLD IN MULTIPLE TRANSACTIONS AT PRICES RANGING FROM $85.52 TO $85.73, INCLUSIVE. THE REPORTING PERSON UNDERTAKES TO PROVIDE TO ALASKA AIR GROUP, ANY SECURITY HOLDER OF ALASKA AIR GROUP, OR THE STAFF OF THE SECURITIES AND EXCHANGE COMMISSION, UPON REQUEST, FULL INFORMATION REGARDING THE NUMBER OF SHARES SOLD AT EACH SEPARATE PRICE WITHIN THE RANGES SET FORTH IN THIS FOOTNOTE. ( 7 )THE PRICE REPORTED IN COLUMN 4 IS THE CLOSING PRICE OF ALK STOCK ON THE TRANSACTION DATE.

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