ITEM 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 21, 2020, the Board of Directors of Alaska Air Group, Inc. (the
"Company") appointed Jessie J. Knight, Jr. to the Company's and its airline
subsidiaries' boards of directors, effective immediately. He was also appointed
to the Compensation and Leadership Development Committee of the Company's Board
of Directors. Mr. Knight previously served as a director for the Company and its
subsidiaries from 2002 to 2017.
Mr. Knight will participate in the current director compensation arrangements
applicable to non-employee directors. Under the terms of those arrangements, Mr.
Knight received a prorated annual cash retainer of $40,680 for service on the
Company's board for the period from his appointment until the Company's next
annual meeting of stockholders. In addition, under the Company's 2016
Performance Incentive Plan, Mr. Knight received a grant of Alaska Air Group,
Inc. common shares, determined by dividing the grant value $54,250 by the
closing price of the Company's common stock on October 21, 2020.
In connection with Mr. Knight's appointment, the number of seats on the
Company's and its airline subsidiaries' boards of directors was increased by
actions of each board from 12 to 13.
ITEM 7.01 Regulation FD Disclosure
On October 21, 2020, the Company issued a press release announcing the
appointment of Jessie J. Knight, Jr. to the Company's board of directors. The
press released is furnished as Exhibit 99.1.
ITEM 9.01. Financial Statements and Other Exhibits
Exhibit 99.1 Press release dated October 21, 2020
104 Cover Page Interactive Data File - embedded
within the Inline XBRL Document
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