Howmet Aerospace Inc. — Director's Dealing 2011

Jul 5, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALCOA INC (AA)
CIK: 0000004281
Period of Report: 2011-06-30

Reporting Person: SCHACHT HENRY B (Senior Advisor to the Board)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-06-30	Common Stock	M	2079	—	Acquired	21191.3637	Direct
2011-06-30	Common Stock	D	2079	$15.985	Disposed	19112.3637	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-06-30	Phantom Stock Units	$	M	2079	Disposed	2011-06-30	Common Stock (2079)	Direct

Footnotes

F1: On June 30, 2011, 2,079 of the reporting person's phantom stock units held under the Alcoa Deferred Fee Plan for Directors (the "Plan") were settled for cash in accordance with the terms of the Plan after termination of service as a director. Each phantom stock unit was the economic equivalent of one share of Alcoa Inc. common stock.

F2: Includes shares acquired under the Alcoa Dividend Reinvestment Plan.