Sec Form 4 Filing - AYER WILLIAM S @ ALASKA AIR GROUP, INC. - 2013-03-25

Insider filing report for Changes in Beneficial Ownership
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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
AYER WILLIAM S
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
X __ Officer (give title below) _____ Other (specify below)
EXECUTIVE CHAIR
(Last) (First) (Middle)
19300 INTERNATIONAL BLVD
3. Date of Earliest Transaction (MM/DD/YY)
03/25/2013
(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 ) 15,645 D
COMMON STOCK 03/25/2013 M( 2 ) 1,400 A $ 21.425 115,180 D
COMMON STOCK 03/25/2013 S( 2 ) 1,400 ( 3 ) D $ 63.0671 113,780 D
COMMON STOCK 03/26/2013 M( 2 ) 300 A $ 21.425 114,080 D
COMMON STOCK 03/26/2013 S( 2 ) 300 D $ 63 113,780 D
COMMON STOCK 03/27/2013 M( 2 ) 600 A $ 21.425 114,380 D
COMMON STOCK 03/27/2013 S( 2 ) 600 ( 4 ) D $ 63.115 113,780 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) $ 21.425 03/25/2013 M( 2 ) 1,400 01/31/2008 01/31/2017 COMMON STOCK 1,400 $ 21.425 38,500 D
EMPLOYEE STOCK OPTION (RT TO BUY) $ 21.425 03/26/2013 M( 2 ) 300 01/31/2008 01/31/2017 COMMON STOCK 300 $ 0 38,200 D
EMPLOYEE STOCK OPTION (RT TO BUY) $ 21.425 03/27/2013 M( 2 ) 600 01/31/2008 01/31/2017 COMMON STOCK 600 $ 0 37,600 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
AYER WILLIAM S
19300 INTERNATIONAL BLVD
SEATTLE, WA98188
X EXECUTIVE CHAIR
Signatures
/s/ JEANNE E GAMMON, ATTORNEY IN FACT FOR WILLIAM S. AYER 03/27/2013
Signature of Reporting Person Date
Explanation of Responses:
( 1 )STOCK UNITS AWARDED UNDER THE 2008 PERFORMANCE INCENTIVE PLAN; NO LONGER SUBJECT TO FORFEITURE.
( 2 )SAME-DAY EXERCISE OF OPTIONS AND SALE EFFECTED PURSUANT TO A RULE 10b5-1 TRADING PLAN ADOPTED BY MR. AYER ON 3/13/13.
( 3 )THE PRICE REPORTED IN COLUMN 4 IS A WEIGHTED AVERAGE PRICE. THESE SHARES SOLD IN MULTIPLE TRANSACTIONS AT PRICES RANGING FROM $63.00 TO $63.50, 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.
( 4 )THE PRICE REPORTED IN COLUMN 4 IS A WEIGHTED AVERAGE PRICE. THESE SHARES SOLD IN MULTIPLE TRANSACTIONS AT PRICES RANGING FROM $63.00 TO $63.39, 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.

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