Howmet Aerospace Inc. — Director's Dealing 2014

Jul 17, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALCOA INC (AA)
CIK: 0000004281
Period of Report: 2014-07-16

Reporting Person: Collins Robert Sean (Vice President and Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-07-16	Common Stock	M	14668	$8.33	Acquired	49987.95	Direct
2014-07-16	Common Stock	S	10107	$16.4254	Disposed	39880.95	Direct
2014-07-16	Common Stock	S	2280	$16.4254	Disposed	37600.95	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-07-16	Employee Stock Option (right to buy)	$8.33	M	14668	Disposed	2015-01-23	Common Stock (14668)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1120	Indirect
Common Stock	3954	Indirect

Footnotes

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

F2: The price reported in column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $16.4049 to $16.43. The reporting person undertakes to provide to Alcoa Inc., any security holder of Alcoa Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote.

F3: The option, representing a right to purchase a total of 44,000 shares, became exercisable in three equal annual installments beginning on January 23, 2010, which was the first anniversary of the date on which the option was granted.

F4: Employee stock options are granted without payment of consideration.