SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person ^*
HARRISON ANDREW R

(Last) | (First) | (Middle)
C/O ALASKA AIRLINES, INC.
19300 INTERNATIONAL BLVD

(Street)
SEATTLE | WA | 98188

(City) | (State) | (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/12/2012

3. Issuer Name and Ticker or Trading Symbol
ALASKA AIR GROUP INC [ ALK ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
| Director | | 10% Owner
X | Officer (give title below) | | Other (specify below)
VP/PLNG & REV MGMT

5. 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 Beneficially Owned
1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5)
COMMON STOCK | 1,154 | D |
RESTRICTED STOCK UNIT^(1) | 3,410 | D |

Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) |
| Date Exercisable | Expiration Date | Title | Amount or Number of Shares | | | |
EMPLOYEE STOCK OPTION (RT TO BUY) | 04/25/2009^(2) | 04/25/2018 | COMMON STOCK | 1,250 | 19.81 | D | |
EMPLOYEE STOCK OPTION (RT TO BUY) | 01/29/2010^(3) | 01/29/2019 | COMMON STOCK | 1,648 | 27.56 | D | |
EMPLOYEE STOCK OPTION (RT TO BUY) | 02/03/2011^(4) | 02/03/2020 | COMMON STOCK | 1,150 | 33.26 | D | |
EMPLOYEE STOCK OPTION (RT TO BUY) | 02/07/2012^(5) | 02/07/2021 | COMMON STOCK | 2,100 | 61.3 | D | |
EMPLOYEE STOCK OPTION (RT TO BUY) | 02/14/2013^(6) | 02/14/2022 | COMMON STOCK | 1,940 | 76 | D | |
Explanation of Responses:
1. STOCK UNITS AWARDED UNDER ALASKA AIR GROUP'S 2008 PERFORMANCE INCENTIVE PLAN; SUBJECT TO FORFEITURE.
2. OPTIONS GRANTED WILL VEST IN EQUAL INSTALLMENTS OVER FOUR YEARS BEGINNING ON THE FIRST ANNIVERSARY OF THE GRANT DATE; REMAINING OPTIONS VEST ON 04/25/2012.
3. OPTIONS GRANTED WILL VEST IN EQUAL INSTALLMENTS OVER FOUR YEARS BEGINNING ON THE FIRST ANNIVERSARY OF THE GRANT DATE; REMAINING OPTION VEST ON 1/29/2013.
4. OPTIONS GRANTED WILL VEST IN EQUAL INSTALLMENTS OVER FOUR YEARS BEGINNING ON THE FIRST ANNIVERSARY OF THE GRANT DATE; REMAINING OPTIONS VEST AS FOLLOWS - 575 ON 2/3/13 AND 575 ON 2/3/14.
5. OPTIONS GRANTED WILL VEST IN EQUAL INSTALLMENTS OVER FOUR YEARS BEGINNING ON THE FIRST ANNIVERSARY OF THE GRANT DATE.
6. OPTIONS GRANTED WILL VEST IN EQUAL INSTALLMENTS OVER FOUR YEARS BEGINNING ON THE FIRST ANNIVERSARY OF THE GRANT DATE.
| JEANNE E GAMMON, ATTORNEY IN FACT FOR ANDREW R. HARRISON | 03/13/2012
| ** 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 5 (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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