Howmet Aerospace Inc. — Director's Dealing 2009

Nov 17, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALCOA INC (AA)
CIK: 0000004281
Period of Report: 2009-11-13

Reporting Person: GHOSN CARLOS (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-11-13	Common Stock	M	50	—	Acquired	50	Direct
2009-11-13	Common Stock	F	15	$13.18	Disposed	35	Direct
2009-11-13	Common Stock	D	35	$13.18	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-11-13	Restricted Stock Units	$	M	50	Disposed	2009-11-13	Common Stock (50)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Phantom Stock Units	$		Common Stock ()	54296	Direct

Footnotes

F1: Each restricted stock unit granted on November 13, 2008 under the Directors Plan: "You Make a Difference Award" represented a contingent right to receive the cash value of one share of Alcoa Inc. common stock on a 1-for-1 basis after a one-year vesting period. All of the units were settled for cash upon vesting on November 13, 2009.

F2: Represents payment of tax liability by withholding equivalent shares incident to the vesting of the restricted stock units reported in Table II.

F3: The reporting person holds phantom stock units under the 2005 (or prior) Alcoa Deferred Fee Plan for Directors. Such units are the economic equivalent of one share of Alcoa Inc. common stock and are to be paid out in cash after Board service ends.