Form 4: Air Lease Director Sells $7.86M in Stock

Air Lease Corporation Director Steven F. Udvar-Hazy reported the sale of 122,800 shares of Class A Common Stock through pre-arranged trading plans.

Summary

• Steven F. Udvar-Hazy, a Director at Air Lease Corporation (AL), reported multiple sales of the company's Class A Common Stock.
• The transactions occurred on December 9, 10, and 11, 2025, and were executed pursuant to a Rule 10b5-1(c) pre-arranged trading plan.
• A total of 122,800 shares were sold across these dates.
• The weighted average sales prices ranged from approximately $63.95 to $64.06 per share, totaling approximately $7.86 million.
• Following these transactions, Udvar-Hazy's direct and indirect beneficial ownership of Class A Common Stock was adjusted, with remaining direct ownership of 1,428,366 shares and various indirect holdings through trusts and family members.

Sentiment

Score: 4

Explanation: The sale of a significant number of shares by a director, even under a pre-arranged 10b5-1 plan, can be perceived as a slightly negative signal regarding the insider's long-term outlook for the stock, leading to a cautious sentiment.

Positives

• The reported transactions were made pursuant to a Rule 10b5-1(c) plan, indicating pre-scheduled sales rather than a reaction to immediate company news or market conditions.

Negatives

• A director, Steven F. Udvar-Hazy, sold a significant number of shares (122,800 shares) of Air Lease Corporation Class A Common Stock.
• The total value of shares sold was approximately $7.86 million, representing a substantial reduction in the insider's direct and indirect holdings.
• Insider selling, even if pre-scheduled, can sometimes be perceived negatively by the market as it reduces the insider's direct stake and conviction in the company's future prospects.

Risks

• Potential for negative market perception due to significant insider selling, which could lead to decreased investor confidence or selling pressure on the stock.
• While the sales are pre-planned, a large volume of insider selling can still be interpreted by some investors as a signal of limited upside potential from the insider's perspective.

Related Party Transactions

• Shares are held by the reporting person as custodian for one of the reporting person's grandchildren under the California Uniform Transfers to Minors Act.
• Shares are held by the Udvar-Hazy Separate Property Trust, of which the reporting person is the trustee.
• Shares are held by the Hazy Family Community Property Trust 5/28/85, of which the reporting person is the trustee and beneficial owner.
• Shares are owned by the reporting person's wife, daughters, and sons, with the reporting person disclaiming beneficial ownership except to the extent of pecuniary interest.
• Shares are held by Air Intercontinental, Inc., of which the reporting person is the sole stockholder.
• Shares are held by Emerald Financial LLC, where separate trusts for the reporting person's four children own 25% of the membership interests.
• Shares are held by Ocean Equities, Inc., which is 100% owned by the Hazy Family Community Property Trust 5/28/85.

Stakeholder Impact

• Shareholders may interpret the director's selling as a signal about future stock performance, potentially leading to decreased confidence or selling pressure on the stock.
• The market may react to the announcement of these future sales by adjusting the company's share price.

Key Dates

Recommendation

The director's sale of a substantial number of shares, while executed under a pre-arranged 10b5-1 plan, represents a reduction in insider ownership. This action, though not indicative of immediate negative news, warrants a cautious 'hold' recommendation as it removes a significant amount of insider capital from the stock, potentially signaling a lack of strong conviction for significant near-term upside from the insider's perspective.

Keywords

Air Lease Corp, AL, insider trading, Form 4, stock sale, director, Steven F. Udvar-Hazy, 10b5-1 plan, beneficial ownership