Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-30

Alaska Air Group (ALK)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$9,904,339
Ben Minicucci total, FY2025
21st
CEO pay percentile vs peers
117.7:1
CEO-to-median pay ratio
90.51%
Say-on-pay support, latest vote
Companies that benchmark against ALK
5 companies name ALK as a compensation peer

Each company listed discloses ALK in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named ALK in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Ben Minicucci$847,692$0$6,769,222$0$1,632,721$145,411$509,293$9,904,339
CEO Alaska Air Group & Alaska Airlines
Shane Tackett625,71402,816,3820689,19852,092329,7934,513,179
EVP Finance & CFO Alaska Air Group & Alaska Airlines
Andrew Harrison583,88802,382,1960611,076253,886353,6034,184,649
EVP & CCO Alaska Airlines
Constance von Muehlen498,01902,220,4680521,34369,961170,7573,480,548
EVP & Advisor to COO Alaska Airlines
Kyle Levine599,07501,656,3330511,14369,370310,8643,146,785
EVP Corporate & Public Affairs, Chief Legal Officer & Corporate Secretary Alaska Air Group & Alaska Airlines

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Ben Minicucci$9,904,339$8,645,983$10,313,054+1,258,356
Shane Tackett4,513,1794,220,8225,624,706+292,357
Andrew Harrison4,184,6493,877,0584,572,950+307,591
Constance von Muehlen3,480,5483,498,9754,578,007−18,427
Kyle Levine3,146,7852,890,5803,654,637+256,205

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Lindsay-Rae McIntyreEVP & Chief People Officer2026-04-01A17,960$0$0Derivative, Class A CommonForm 4 ↗
Lindsay-Rae McIntyreEVP & Chief People Officer2026-04-01A44,90000Derivative, Class A CommonForm 4 ↗
Adrienne R. LoftonDirector2026-05-13A5,18639199,972CommonForm 4 ↗
Kathleen T. HoganDirector2026-05-13A5,18639199,972CommonForm 4 ↗
Eric K. YeamanDirector2026-05-13A5,18639199,972CommonForm 4 ↗
Helvi K. SandvikDirector2026-05-13A5,18639199,972CommonForm 4 ↗
Daniel K. ElwellDirector2026-05-13A2,5933999,986CommonForm 4 ↗
Daniel K. ElwellDirector2026-05-13A2,5933999,986CommonForm 4 ↗
James A. BeerDirector2026-05-13A5,18639199,972CommonForm 4 ↗
Raymond L. ConnerDirector2026-05-13A5,18639199,972CommonForm 4 ↗
Peter A. ShimerDirector2026-05-13A5,18639199,972CommonForm 4 ↗
Patricia M. BedientDirector2026-05-13A6,48339249,984CommonForm 4 ↗
G. Michael SievertDirector2026-06-01A4,25845189,566CommonForm 4 ↗
Shane TackettPres. of Ops Sub & CFO2026-06-29A4,10000Derivative, Class A CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Kyle LevineRSU2025-09-29630$31,777
Andrew HarrisonPSU2025-02-117,62015,24030,4801,110,234
Andrew HarrisonRSU2025-02-1115,2401,110,234
Kyle LevinePSU2025-02-115,57511,15022,300812,278
Ben MinicucciRSU2025-02-1146,4603,384,611
Kyle LevineRSU2025-02-1111,150812,278
Ben MinicucciPSU2025-02-1123,23046,46092,9203,384,611
Shane TackettRSU2025-02-1119,3301,408,191
Shane TackettPSU2025-02-119,66519,33038,6601,408,191
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Kyle Levine$844,055$812,278$049.0%
Andrew Harrison1,110,2341,110,234050.0%
Ben Minicucci3,384,6113,384,611050.0%
Shane Tackett1,408,1911,408,191050.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Andrew HarrisonRSU17,020$856,106
Shane TackettRSU20,4471,028,484
Andrew HarrisonRSU17,720891,316
Kyle LevineRSU7,740389,322
Kyle LevineRSU63031,689
Kyle LevineOption12255.36
Ben MinicucciRSU45,4402,285,632
Kyle LevineRSU11,150560,845
Ben MinicucciOption8,95355.36
Ben MinicucciPSU68,1606,856,896
Shane TackettPSU30,6703,085,402
Shane TackettPSU19,3301,944,598
Ben MinicucciRSU39,1601,969,748
Andrew HarrisonPSU16,3501,644,810
Shane TackettRSU18,060908,418
Ben MinicucciRSU46,4602,336,938
Andrew HarrisonRSU16,350822,405
Constance von MuehlenRSU13,160661,948
Constance von MuehlenPSU15,2401,533,144
Shane TackettOption4,40855.36
Constance von MuehlenPSU26,5802,673,948
Kyle LevinePSU17,7201,782,632
Ben MinicucciPSU46,4604,673,876
Andrew HarrisonPSU26,5802,673,948
Kyle LevinePSU11,1501,121,690
Shane TackettRSU19,330972,299
Constance von MuehlenRSU17,720891,316
Constance von MuehlenRSU15,240766,572
Kyle LevineRSU11,814594,244
Andrew HarrisonOption4,40855.36
Kyle LevineOption1,80655.36
Kyle LevineRSU4,857244,307
05

Incentive-plan design — the Compensation Discussion & Analysis

being responsible stewards of shareholder resources while compensating executives appropriately and competitively for driving superior performance relative to other airlines in North America

CEO STI target (% of salary)175%
CEO LTI target (% of salary)
Independent consultantMeridian Compensation Partners, LLC
Clawback policytrue
Anti-hedging
Anti-pledging
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-1271,795,6217,301,516224,40790.51%Passed
20252025-05-0888,089,2462,162,742428,71297.14%Passed
20242024-05-0987,006,9683,212,798505,84295.9%Passed
20232023-05-0488,706,3153,607,192282,85495.8%Passed
20222022-05-0580,765,8133,239,752278,10095.83%Passed
20212021-05-0681,420,4795,678,592241,00193.22%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-1290.51%a
20252025-05-0897.14%b
20242024-05-0995.9%c

a. Approved under the standard stated in the filing — “Accordingly, an abstention, because it is not a vote "for," will have the effect of a negative vote.”.

b. Approved under the standard stated in the filing — “Accordingly, an abstention, because it is not a vote "for," will have the effect of a negative vote.”.

c. Approved under the standard stated in the filing — “Accordingly, an abstention, because it is not a vote "for," will have the effect of a negative vote.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)117.7 : 1
CEO total compensation$9,920,374
Median employee compensation$84,308
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Patricia M. BedientIndependent · Board Chair · Board Chair$240,001$139,999$0$0$25,731$405,731
Kathleen T. HoganIndependent · Governance, Nominating and Corporate Responsibility (Chair) · Compensation and Leadership Development110,001139,9990098,148348,148
Eric K. YeamanIndependent · Audit (Chair) · Governance, Nominating and Corporate Responsibility140,001139,9990036,481316,481
Raymond L. ConnerIndependent · Compensation and Leadership Development (Chair) · Safety115,001139,9990012,992267,992
James A. BeerIndependent · Audit · Innovation (Chair)110,001139,9990015,494265,494
Daniel K. ElwellIndependent · Safety (Chair) · Innovation110,001139,9990015,114265,114
Peter A. ShimerIndependent · Audit · Safety · Partial-year service · Newly elected90,001139,9990012,873242,873
Helvi K. SandvikIndependent · Compensation and Leadership Development · Governance, Nominating and Corporate Responsibility90,001139,9990010,795240,795
Adrienne R. LoftonIndependent · Compensation and Leadership Development · Innovation90,001139,9990010,795240,795
09

Board fee structure and ownership guideline

Annual cash retainer$90,000
Annual equity retainer$140,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)25,000 / 20,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,095,009
Equity awards (grant-date value)$1,259,991
All other compensation$238,423
Total cost of the board$2,593,423

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Alaska Air Group names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Alaska Air Group.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1United Airlines Holdings2025Scott Kirby$1,200,000$22,565,804$0$8,010,000$32,282,253
2Royal Caribbean Group2025Jason Liberty1,396,15415,800,05705,129,60023,978,813
3Delta Air Lines2025Edward Bastian1,082,50011,914,23105,846,04019,222,401
4Carnival Corporation & Plc2025Josh Weinstein1,435,57711,961,02705,420,10018,887,776
5Expedia Group2025Ariane Gorin1,254,80815,689,8000017,592,584
6Southwest Airlines2025Robert Jordan844,79213,075,07202,031,16016,587,882
7Norfolk Southern2025Mark George1,100,0009,199,7332,300,0102,932,87516,245,050
8American Airlines Group2025Robert Isom1,300,00012,489,0000013,871,825
9Norwegian Cruise Line Holdings2025Harry Sommer1,300,0009,499,96002,880,80013,752,560
10C.H. Robinson Worldwide2025David Bozeman1,100,9626,984,38302,879,61811,045,949
11Ryder Systems2025Robert Sanchez1,100,0017,159,49501,675,89410,178,386
12Alaska Air Group2025Ben Minicucci847,6926,769,22201,632,7219,904,339
13Expeditors International of Washington2025Daniel Wall100,0005,940,13403,600,7299,643,863
14JetBlue Airways2025Joanna Geraghty700,0003,249,99601,102,5005,191,318
15Lyft2025David Risher725,000001,871,6252,824,088
XPOnot in coverage universe
Hertz Global Holdingsnot in coverage universe
Avis Budget Groupnot in coverage universe
Knight-Swift Transportation Holdingsnot in coverage universe

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Alaska Air Group110.0%RSU 50 · PSU 50NoMeridian Compensation Partners, LLC
American Airlines Group50.97%PSU 50 · RSU 50NoKorn Ferry
Avis Budget Groupnot disclosednot disclosednot disclosednot disclosed
C.H. Robinson Worldwide171%PSU 60 · RSU 40NoSemler Brossy
Carnival Corporation & Plc186.9%PSU 60 · RSU 40Yes — Relative TSRFW Cook
Delta Air Lines54.46%PSU 50 · Cash LTI 25 · RSU 25NoFrederic W. Cook & Co., Inc. (FW Cook)
Expedia Groupnot disclosedPSU 50 · RSU 50NoCompensia, Inc.
Expeditors International of Washingtonnot disclosedPSU 50 · RSU 50NoMeridian Compensation Partners, LLC
Hertz Global Holdingsnot disclosednot disclosednot disclosednot disclosed
JetBlue Airwaysnot disclosednot disclosedYesPay Governance
Knight-Swift Transportation Holdingsnot disclosednot disclosednot disclosednot disclosed
Lyft108.5%PSU 50 · RSU 50NoPay Governance
Norfolk Southern118.5%not disclosedYes — relative TSRFW Cook
Norwegian Cruise Line Holdings110.8%PSU 50 · RSU 50NoKorn Ferry
Royal Caribbean Group183.2%PSU 51 · RSU 28NoMeridian
Ryder Systems90%PSU 60 · RSU 40NoFW Cook
Southwest Airlines119.48%RSU 50 · PSU 50NoMeridian Compensation Partners, LLC
United Airlines Holdingsnot disclosednot disclosednot disclosedExequity
XPOnot disclosednot disclosednot disclosednot disclosed

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Ben MinicucciDEF 14A2026-03-300001193125-26-132048Section “2024 Summary Compensation Table”. As printed: 9,904,339. Filing ↗machine: t40 · r2 · c17 · span 1199860–1199869
2Section 01, Shane TackettDEF 14A2026-03-300001193125-26-132048Section “2025 Summary Compensation Table” · page 58. As printed: 4,513,179. Filing ↗machine: t40 · r6 · c17 · span 1230530–1230539
3Section 01, Andrew HarrisonDEF 14A2026-03-300001193125-26-132048Section “2025 Summary Compensation Table” · page 58. As printed: 4,184,649. Filing ↗machine: t40 · r10 · c17 · span 1261218–1261227
4Section 01, Constance von MuehlenDEF 14A2026-03-300001193125-26-132048Section “Executive Compensation”. As printed: 3,480,548. Filing ↗
5Section 01, Kyle LevineDEF 14A2026-03-300001193125-26-132048Section “2025 Summary Compensation Table” · page 58. As printed: 3,146,785. Filing ↗machine: t40 · r18 · c17 · span 1322482–1322491
6Section 03, Kyle Levine RSUDEF 14A2026-03-300001193125-26-132048Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t43 · r21 · c17 · span 1652527–1652530
7Section 03, Andrew Harrison PSUDEF 14A2026-03-300001193125-26-132048Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
8Section 03, Andrew Harrison RSUDEF 14A2026-03-300001193125-26-132048Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
9Section 03, Kyle Levine PSUDEF 14A2026-03-300001193125-26-132048Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t43 · r20 · c17 · span 1642053–1642059
10Section 03, Ben Minicucci RSUDEF 14A2026-03-300001193125-26-132048Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t43 · r4 · c17 · span 1510411–1510417
11Section 03, Kyle Levine RSUDEF 14A2026-03-300001193125-26-132048Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t43 · r20 · c17 · span 1642053–1642059
12Section 03, Ben Minicucci PSUDEF 14A2026-03-300001193125-26-132048Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t43 · r4 · c17 · span 1510411–1510417
13Section 03, Shane Tackett RSUDEF 14A2026-03-300001193125-26-132048Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t43 · r8 · c17 · span 1543322–1543328
14Section 03, Shane Tackett PSUDEF 14A2026-03-300001193125-26-132048Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t43 · r8 · c17 · span 1543322–1543328
15Section 07, pay ratioDEF 14A2026-03-300001193125-26-132048Section “CEO Pay Ratio”. As printed: 117.7 : 1. Filing ↗machine: span 2587399–2587409
16Section 08, Patricia M. BedientDEF 14A2026-03-300001193125-26-132048Section “Director Compensation”. As printed: 405,731. Filing ↗machine: t32 · r2 · c9 · span 814379–814386
17Section 08, Kathleen T. HoganDEF 14A2026-03-300001193125-26-132048Section “Director Compensation”. As printed: 348,148. Filing ↗machine: t32 · r6 · c9 · span 830946–830953
18Section 08, Eric K. YeamanDEF 14A2026-03-300001193125-26-132048Section “Director Compensation”. As printed: 316,481. Filing ↗machine: t32 · r10 · c9 · span 847509–847516
19Section 08, Raymond L. ConnerDEF 14A2026-03-300001193125-26-132048Section “Director Compensation”. As printed: 267,992. Filing ↗machine: t32 · r4 · c9 · span 822661–822668
20Section 08, James A. BeerDEF 14A2026-03-300001193125-26-132048Section “Director Compensation”. As printed: 265,494. Filing ↗machine: t32 · r3 · c9 · span 818518–818525
21Section 08, Daniel K. ElwellDEF 14A2026-03-300001193125-26-132048Section “Director Compensation”. As printed: 265,114. Filing ↗machine: t32 · r5 · c9 · span 826803–826810
22Section 08, Peter A. ShimerDEF 14A2026-03-300001193125-26-132048Section “Director Compensation”. As printed: 242,873. Filing ↗machine: t32 · r9 · c9 · span 843370–843377
23Section 08, Helvi K. SandvikDEF 14A2026-03-300001193125-26-132048Section “Director Compensation”. As printed: 240,795. Filing ↗machine: t32 · r8 · c9 · span 839230–839237
24Section 08, Adrienne R. LoftonDEF 14A2026-03-300001193125-26-132048Section “Director Compensation”. As printed: 240,795. Filing ↗machine: t32 · r7 · c9 · span 835089–835096
25Section 02, Lindsay-Rae McIntyre 2026-04-01Form 42026-04-020002125884-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Lindsay-Rae McIntyre 2026-04-01Form 42026-04-020002125884-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, Adrienne R. Lofton 2026-05-13Form 42026-05-140001888417-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Kathleen T. Hogan 2026-05-13Form 42026-05-140001626431-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Eric K. Yeaman 2026-05-13Form 42026-05-140001215819-26-000003Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Helvi K. Sandvik 2026-05-13Form 42026-05-140001592033-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Daniel K. Elwell 2026-05-13Form 42026-05-140001841043-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Daniel K. Elwell 2026-05-13Form 42026-05-140001841043-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, James A. Beer 2026-05-13Form 42026-05-140001272505-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Raymond L. Conner 2026-05-13Form 42026-05-140001553498-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Peter A. Shimer 2026-05-13Form 42026-05-140002067677-26-000009Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Patricia M. Bedient 2026-05-13Form 42026-05-140001310643-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, G. Michael Sievert 2026-06-01Form 42026-06-030001182438-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Shane Tackett 2026-06-29Form 42026-06-300001544028-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
39Section 06, 2026 voteForm 8-K2026-05-140000766421-26-000027Item 5.07 · say-on-pay result. As reported: 90.51% (votes for as printed: 71,795,621). Filing ↗
40Section 06, 2025 voteForm 8-K2025-05-140000766421-25-000020Item 5.07 · say-on-pay result. As reported: 97.14% (votes for as printed: 88,089,246). Filing ↗
41Section 06, 2024 voteForm 8-K2024-05-130000766421-24-000035Item 5.07 · say-on-pay result. As reported: 95.9% (votes for as printed: 87,006,968). Filing ↗
42Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
43Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
44Section 09b board cost (computed)ComputedcomputedCash 1,095,009 + equity 1,259,991 + all other 238,423 = 2,593,423, summed across the director compensation table rows.machine: formula: Σ = 2,593,423
45United Airlines Holdings, Section 10b CEO totalDEF 14A2026-04-070001104659-26-040467CEO total compensation as printed in United Airlines Holdings's own proxy. As printed: 32,282,253. Filing ↗machine: t375 · r8 · c16 · span 2556272–2556282
46Royal Caribbean Group, Section 10b CEO totalDEF 14A2026-04-170000884887-26-000017CEO total compensation as printed in Royal Caribbean Group's own proxy. As printed: 23,978,813. Filing ↗machine: r3 · c12 · span 2449115–2449125
47Delta Air Lines, Section 10b CEO totalDEF 14A2026-04-240001308179-26-000345CEO total compensation as printed in Delta Air Lines's own proxy. As printed: 19,222,401. Filing ↗machine: t124 · r1 · c35 · span 616606–616616
48Carnival Corporation & Plc, Section 10b CEO totalDEF 14A2026-02-270001104659-26-021074CEO total compensation as printed in Carnival Corporation & Plc's own proxy. As printed: 18,887,776. Filing ↗machine: t207 · r1 · c36 · span 2027870–2027880
49Expedia Group, Section 10b CEO totalDEF 14A2026-04-290001324424-26-000022CEO total compensation as printed in Expedia Group's own proxy. As printed: 17,592,584. Filing ↗machine: t142 · r6 · c10 · span 775351–775361
50Southwest Airlines, Section 10b CEO totalDEF 14A2026-03-270001193125-26-127237CEO total compensation as printed in Southwest Airlines's own proxy. As printed: 16,587,882. Filing ↗machine: t263 · r2 · c39 · span 1219658–1219668
51Norfolk Southern, Section 10b CEO totalDEF 14A2026-03-270001193125-26-127620CEO total compensation as printed in Norfolk Southern's own proxy. As printed: 16,245,050. Filing ↗machine: r5 · c33 · span 2773362–2773372
52American Airlines Group, Section 10b CEO totalDEF 14A2026-04-280001193125-26-187096CEO total compensation as printed in American Airlines Group's own proxy. As printed: 13,871,825. Filing ↗machine: r3 · c34 · span 1427237–1427247
53Norwegian Cruise Line Holdings, Section 10b CEO totalDEF 14A2026-04-300001104659-26-052146CEO total compensation as printed in Norwegian Cruise Line Holdings's own proxy. As printed: 13,752,560. Filing ↗machine: r1 · c56 · span 938613–938623
54C.H. Robinson Worldwide, Section 10b CEO totalDEF 14A2026-03-240001043277-26-000011CEO total compensation as printed in C.H. Robinson Worldwide's own proxy. As printed: 11,045,949. Filing ↗machine: r3 · c39 · span 1034575–1034585
55Ryder Systems, Section 10b CEO totalDEF 14A2026-03-110001628280-26-016651CEO total compensation as printed in Ryder Systems's own proxy. As printed: 10,178,386. Filing ↗machine: t211 · r2 · c8 · span 970489–970499
56Alaska Air Group (subject), Section 10b CEO totalDEF 14A2026-03-300001193125-26-132048CEO total compensation as printed in Alaska Air Group's own proxy. As printed: 9,904,339. Filing ↗machine: t40 · r2 · c17 · span 1199860–1199869
57Expeditors International of Washington, Section 10b CEO totalDEF 14A2026-03-240001193125-26-121388CEO total compensation as printed in Expeditors International of Washington's own proxy. As printed: 9,643,863. Filing ↗machine: r2 · c6 · span 687349–687359
58JetBlue Airways, Section 10b CEO totalDEF 14A2026-04-020001158463-26-000041CEO total compensation as printed in JetBlue Airways's own proxy. As printed: 5,191,318. Filing ↗machine: r5 · c7 · span 2148744–2148753
59Lyft, Section 10b CEO totalDEF 14A2026-04-100001628280-26-024680CEO total compensation as printed in Lyft's own proxy. As printed: 2,824,088. Filing ↗machine: t25 · r2 · c12 · span 578611–578620
60Section 10a, Expeditors International of Washington reciprocityDEF 14A0001193125-26-121388Expeditors International of Washington names Alaska Air Group in its own disclosed peer group (read from its most recent proxy). Filing ↗
61Section 10a, Lyft reciprocityDEF 14A0001628280-26-024680Lyft's most recent proxy was read; its disclosed peer group does not include Alaska Air Group. Filing ↗
62Section 10a, C.H. Robinson Worldwide reciprocityDEF 14A0001043277-26-000011C.H. Robinson Worldwide's most recent proxy was read; its disclosed peer group does not include Alaska Air Group. Filing ↗
63Section 10a, Royal Caribbean Group reciprocityDEF 14A0000884887-26-000017Royal Caribbean Group's most recent proxy was read; its disclosed peer group does not include Alaska Air Group. Filing ↗
64Section 10a, Norwegian Cruise Line Holdings reciprocityDEF 14A0001104659-26-052146Norwegian Cruise Line Holdings names Alaska Air Group in its own disclosed peer group (read from its most recent proxy). Filing ↗
65Section 10a, Delta Air Lines reciprocityDEF 14A0001308179-26-000345Delta Air Lines's most recent proxy was read; its disclosed peer group does not include Alaska Air Group. Filing ↗
66Section 10a, JetBlue Airways reciprocityDEF 14A0001158463-26-000041JetBlue Airways names Alaska Air Group in its own disclosed peer group (read from its most recent proxy). Filing ↗
67Section 10a, Expedia Group reciprocityDEF 14A0001324424-26-000022Expedia Group's most recent proxy was read; its disclosed peer group does not include Alaska Air Group. Filing ↗
68Section 10a, Ryder Systems reciprocityDEF 14A0001628280-26-016651Ryder Systems's most recent proxy was read; its disclosed peer group does not include Alaska Air Group. Filing ↗
69Section 10a, American Airlines Group reciprocityDEF 14A0001193125-26-187096American Airlines Group's most recent proxy was read; its disclosed peer group does not include Alaska Air Group. Filing ↗
70Section 10a, United Airlines Holdings reciprocityDEF 14A0001104659-26-040467United Airlines Holdings's most recent proxy was read; its disclosed peer group does not include Alaska Air Group. Filing ↗
71Section 10a, Southwest Airlines reciprocityDEF 14A0001193125-26-127237Southwest Airlines names Alaska Air Group in its own disclosed peer group (read from its most recent proxy). Filing ↗