ATI INC — Director's Dealing 2011

Feb 2, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALLEGHENY TECHNOLOGIES INC (ATI)
CIK: 0001018963
Period of Report: 2011-01-31

Reporting Person: WALTON JON D (EVP, HR, CLCO and Corp Sec)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-01-31	Common Stock, $0.10 par value	A	5110	$0.00	Acquired	176804.174	Direct
2011-01-31	Common Stock, $0.10 par value	F	1622	$64.35	Disposed	175182.174	Direct
2011-02-01	Common Stock, $0.10 par value	M	10000	$5.70	Acquired	185182.174	Direct
2011-02-01	Common Stock, $0.10 par value	M	5000	$3.625	Acquired	190182.174	Direct
2011-02-01	Common Stock, $0.10 par value	S	400	$66.82	Disposed	189782.174	Direct
2011-02-01	Common Stock, $0.10 par value	S	909	$66.80	Disposed	188873.174	Direct
2011-02-01	Common Stock, $0.10 par value	S	5000	$66.75	Disposed	183873.174	Direct
2011-02-01	Common Stock, $0.10 par value	S	161	$66.62	Disposed	183712.174	Direct
2011-02-01	Common Stock, $0.10 par value	S	1451	$66.60	Disposed	182261.174	Direct
2011-02-01	Common Stock, $0.10 par value	S	100	$66.49	Disposed	182161.174	Direct
2011-02-01	Common Stock, $0.10 par value	S	1300	$66.48	Disposed	180861.174	Direct
2011-02-01	Common Stock, $0.10 par value	S	300	$66.47	Disposed	180561.174	Direct
2011-02-01	Common Stock, $0.10 par value	S	609	$66.46	Disposed	179952.174	Direct
2011-02-01	Common Stock, $0.10 par value	S	1491	$66.452	Disposed	178461.174	Direct
2011-02-01	Common Stock, $0.10 par value	S	1501	$66.45	Disposed	176960.174	Direct
2011-02-01	Common Stock, $0.10 par value	S	1688	$66.442	Disposed	175272.174	Direct
2011-02-01	Common Stock, $0.10 par value	S	90	$66.44	Disposed	175182.174	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-01	Employee Stock Option, right to buy	$5.70	M	10000	Disposed	2013-01-24	Common Stock, $0.10 par value (10000)	Direct
2011-02-01	Employee Stock Option, right to buy	$3.625	M	5000	Disposed	2013-02-12	Common Stock, $0.10 par value (5000)	Direct

Footnotes

F1: This amount includes 1,725.751 shares of common stock that Mr. Walton owns indirectly in the Company's 401(k) plan. Fluctuations in 401(k) share amounts reflect the plan's unit reporting method. The reporting person holds approximately 1,630 units, which represent interests in the Company's stock fund.

F2: This amount includes 45,599 shares of common stock owned indirectly by Mr. Walton's wife. The reporting person disclaims beneficial ownership of the shares directly or indirectly by his spouse, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such shares for the purposes of Section 16 or for any other purpose.

F3: The option vested in three equal installments on January 24, 2004, 2005 and 2006.

F4: The option,representing a right to purchase a total of 30,000 shares, vested in three equal installments on February 12, 2004, 2005, and 2006.