Howmet Aerospace Inc. — Director's Dealing 2017

Jan 25, 2017

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Arconic Inc. (ARNC)
CIK: 0000004281
Period of Report: 2017-01-20

Reporting Person: ELLIOTT INTERNATIONAL, L.P. (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $1.00 par value	30125451	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Notional Principal Amount Derivative Agreement	$		Common Stock, $1.00 par value (4938512)		Direct

Footnotes

F1: This Form 3 is filed jointly by Elliott International, L.P. ("Elliott International") and Elliott International Capital Advisors Inc. ("EICA" and, together with Elliott International, the "Reporting Persons"). EICA, as the investment manager of Elliott International, may be deemed to beneficially own the securities owned by directly by Elliott International. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein.

F2: Securities owned directly by Elliott International. EICA, as the investment manager of Elliott International, may be deemed to beneficially own the securities owned by directly by Elliott International.

F3: Notional principal amount derivative agreement (the "Derivative Agreement") in the form of cash settled swaps entered into by Elliott International at strike prices ranging from $18.5877 to $21.1014. The Derivative Agreement provides Elliott International with economic results that are comparable to the economic results of ownership payable on each settlement date applicable to the expiration or earlier termination of such Derivative Agreement, but do not provide it with the power to vote or direct the voting or dispose of or direct the disposition of the shares of Common Stock that are the subject of the Derivative Agreements (such shares, the "Subject Shares"). Each of the Elliott International and EICA disclaim beneficial ownership in the Subject Shares. The counterparties to the Derivative Agreements are unaffiliated third party financial institutions.