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	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	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* VON MUEHLEN CONSTANCE E (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) Director 10% Owner X Officer (give title below) Other (specify below) EVP AND COO
	3. Date of Earliest Transaction (Month/Day/Year) 09/09/2021
	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	09/09/2021		M		168	A	$0	285	I	HELD BY SPOUSE
COMMON STOCK	09/09/2021		F(2)		50	D	$58.2(3)	235	I	HELD BY SPOUSE
COMMON STOCK	11/05/2021		M		986	A	$0	4,325	D
COMMON STOCK	11/05/2021		F(5)		241	D	$59.35(3)	4,084	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
RESTRICTED STOCK UNITS	$0	09/09/2021		M			168	09/09/2021(1)	09/09/2030	COMMON STOCK	168	$0	335	I	HELD BY SPOUSE
RESTRICTED STOCK UNITS	$0	11/05/2021		M			986	11/05/2021(4)	11/05/2030	COMMON STOCK	986	$0	1,974	D

Explanation of Responses:

1. OUTSTANDING RESTRICTED STOCK UNITS SCHEDULED TO VEST IN EQUAL INSTALLMENTS ON 9/9/2021, 3/9/2022 AND 9/9/2022. THE RSUs CONVERT INTO COMMON STOCK ON A ONE-FOR-ONE BASIS.

2. SHARES FORFEITED TO COVER PAYROLL TAXES UPON VESTING OF RESTRICTED STOCK UNITS ON 9/9/2021.

3. PRICE PROVIDED IN COLUMN 4 REPRESENTS THE FMV OF ALK SHARES ON THE DATE SHARES WERE FORFEITED FOR TAXES.

4. RESTRICTED STOCK UNITS VEST ANNUALLY IN EQUAL INSTALLMENTS ON THE FIRST THREE ANNIVERSARIES OF THE GRANT DATE AND CONVERT INTO COMMON STOCK ON A ONE-FOR-ONE-BASIS.

5. SHARES FORFEITED TO COVER PAYROLL TAXES UPON VESTING OF RESTRICTED STOCK UNITS ON 11/05/2021.

	/S/JEANNE E GAMMON, ATTORNEY IN FACT FOR CONSTANCE E VON MUEHLEN	11/08/2021
	** 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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