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Howmet Aerospace Inc. Director's Dealing 2006

Jun 6, 2006

29914_dirs_2006-06-06_847b9e6d-6e7c-48dd-8902-db1b218e637b.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALCOA INC (AA)
CIK: 0000004281
Period of Report: 2006-06-02

Reporting Person: REITAN BERNT (Executive Vice President)

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2006-06-02 Phantom Stock Units $ A 17 Acquired Common Stock (17) Direct

Holdings (Derivative)

Security Exercise Price Expiration Underlying Shares Ownership
Phantom Stock Units $ Common Stock () 32932 Direct

Footnotes

F1: 1 for 1

F2: Phantom stock units were acquired under the Alcoa Deferred Compensation Plan and are to be paid out in cash after termination of employment. The reporting person may transfer the phantom stock into an alternative investment account under the Plan at times permitted under the Plan.

F3: Includes phantom stock units previously reported as owned directly under the Alcoa Stock Acquisition Plan (ASAP) which have vested in accordance with the provisions of the ASAP and are now owned directly under, and are subject to the provisions of, the Alcoa Deferred Compensation Plan.

F4: As of 06/02/2006, the reporting person held 32,932 phantom stock units under the ASAP, which vest three years after the applicable award date. Vested units become subject to the provisions of the Alcoa Deferred Compensation Plan.