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* UDVAR-HAZY STEVEN F (Last) (First) (Middle) C/O AIR LEASE CORPORATION 2000 AVENUE OF THE STARS, SUITE 1000N (Street) LOS ANGELES CA 90067 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol AIR LEASE CORP [ AL ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner X Officer (give title below) Other (specify below) EXECUTIVE CHAIRMAN
	3. Date of Earliest Transaction (Month/Day/Year) 02/25/2023
	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
Air Lease Corporation - Class A Common Stock	02/25/2023		F		5,923	D	$42.83	1,310,484	D
Air Lease Corporation - Class A Common Stock	02/25/2023		A		21,470(1)	A	$0	1,331,954	D
Air Lease Corporation - Class A Common Stock	02/25/2023		A		65,562(2)	A	$0	1,397,516	D
Air Lease Corporation - Class A Common Stock								36,445	I	See footnote(3)
Air Lease Corporation - Class A Common Stock								16,250	I	See footnote(4)
Air Lease Corporation - Class A Common Stock								19,200	I	See footnote(4)
Air Lease Corporation - Class A Common Stock								16,700	I	See footnote(5)
Air Lease Corporation - Class A Common Stock								24,200	I	See footnote(5)
Air Lease Corporation - Class A Common Stock								3,200	I	See footnote(6)
Air Lease Corporation - Class A Common Stock								3,000	I	See footnote(6)
Air Lease Corporation - Class A Common Stock								2,200	I	See footnote(6)
Air Lease Corporation- Class A Common Stock								1,000	I	See footnote(6)
Air Lease Corporation - Class A Common Stock								36,000	I	See footnote(7)
Air Lease Corporation - Class A Common Stock								329,350	I	See footnote(8)
Air Lease Corporation - Class A Common Stock								102,000	I	See footnote(9)
Air Lease Corporation - Class A Common Stock								2,705,000	I	See footnote(10)
Air Lease Corporation - Class A Common Stock								1,205,558	I	See footnote(11)

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

Explanation of Responses:

1. Restricted stock units granted under the Air Lease Corporation 2014 Equity Incentive Plan that vest in three annual installments beginning on February 25, 2024.

2. This bonus award granted in the form of restricted stock units under the Air Lease Corporation 2014 Equity Incentive Plan, will cliff (100%) vest on February 25, 2025.

3. These shares are owned by the reporting person's wife. The reporting person expressly disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed to be an admission of beneficial ownership of the reported shares for purposes of Section 16 or for any other purpose.

4. These shares are owned by one of the reporting person's daughters. The reporting person expressly disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed to be an admission of beneficial ownership of the reported shares for purposes of Section 16 or for any other purpose.

5. These shares are owned by one of the reporting person's sons. The reporting person expressly disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of the reported shares for purposes of Section 16 or for any other purpose.

6. These 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. The reporting person expressly disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of the reported shares for purposes of Section 16 or for any other purpose.

7. These shares are held by Emerald Financial LLC. A separate trust for each of the reporting person's four children owns 25% of the membership interests of Emerald LLC. Inclusion of these shares in this report shall not be deemed to be an admission of beneficial ownership of the reported shares for purposes of Section 16 or for any other purpose.

8. These shares are held by Air Intercontinental, Inc., of which the reporting person is the sole stockholder.

9. These shares are held by Ocean Equities, Inc. which is 100% owned by the Hazy Family Community Property Trust 5/28/85 of which the reporting person is the trustee and beneficial owner.

10. These shares are held by the Hazy Family Community Property Trust 5/28/85, of which the reporting person is the trustee and beneficial owner.

11. These shares are held by the Udvar-Hazy Separate Property Trust, of which the reporting person is the trustee.

	/s/ Lauren Jaeger, Attorney-in-Fact	02/28/2023
	** 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).
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