Alcoa Corp — Director's Dealing 2021

May 10, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Alcoa Corp (AA)
CIK: 0001675149
Period of Report: 2021-05-07

Reporting Person: Jones Tammi A (EVP & CHRO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-07	Common Stock, par value $0.01 per share	M	1953	$34.83	Acquired	8703	Indirect
2021-05-07	Common Stock, par value $0.01 per share	M	2482	$37.68	Acquired	11185	Indirect
2021-05-07	Common Stock, par value $0.01 per share	S	4435	$41.1834	Disposed	6750	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-05-07	Employee Stock Option (right to buy)	$34.83	M	1953	Disposed	2025-01-20	Common Stock (1953)	Indirect
2021-05-07	Employee Stock Option (right to buy)	$37.68	M	2482	Disposed	2027-02-02	Common Stock (2482)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $0.01 per share	43562	Direct
Common Stock, par value $0.01 per share	57	Indirect

Footnotes

F1: The price reported in column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $41.1700 - $41.1901. The reporting person undertakes to provide to Alcoa Corporation, any security holder of Alcoa Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote.

F2: Fluctuations in 401(k) share amounts reflect the plan's unit reporting method; units represent interests in the Company's stock fund.

F3: This option vested in equal installments over three years beginning on the date shown.