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Howmet Aerospace Inc. Director's Dealing 2006

Apr 20, 2006

29914_dirs_2006-04-20_76fa8059-86ce-40a3-9b69-44e41edadaad.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: 2006-04-18

Reporting Person: THOMAS PAUL D (Executive Vice President)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2006-04-18 Common Stock M 20000 $22.555 Acquired 136951.1219 Direct
2006-04-18 Common Stock F 15751 $34.75 Disposed 121200.1219 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2006-04-18 Employee Stock Option (right to buy) $22.555 M 20000 Disposed 2013-01-10 Common Stock (20000) Direct

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 1086 Indirect

Footnotes

F1: Includes shares acquired under the Alcoa Dividend Reinvestment Plan.

F2: The option grant of which this option is part vested in three equal annual installments beginning January 10, 2004. The installment exercised by the reporting person as reported herein vested on January 10, 2005.

F3: Employee stock options are granted without payment of consideration.

F4: In the aggregate, a total of 773,465 employee stock options (with various prices and expiration dates) were beneficially owned by the reporting person as of the date of this report.