Howmet Aerospace Inc. — Director's Dealing 2011

Jan 27, 2011

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: ALCOA INC (AA)
CIK: 0000004281
Period of Report: 2011-01-21

Reporting Person: Jarrault Olivier M (Executive Vice President)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	87271	Direct
Common Stock	9370	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$28.925	2012-01-12	Common Stock (6277)		Direct
Employee Stock Option (right to buy)	$30.30	2013-01-18	Common Stock (12150)		Direct
Employee Stock Option (right to buy)	$28.79	2014-01-17	Common Stock (21804)		Direct
Employee Stock Option (right to buy)	$8.33	2015-01-23	Common Stock (70000)		Direct
Employee Stock Option (right to buy)	$13.54	2020-01-26	Common Stock (36060)		Direct

Footnotes

F1: The option vests in three equal annual installments beginning January 23, 2010.

F2: The option vests in three equal annual installments beginning January 26, 2011.