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Howmet Aerospace Inc. — Director's Dealing 2020
Apr 7, 2020
29914_dirs_2020-04-06_d9aae615-20de-4986-a84c-4564da20741c.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: Howmet Aerospace Inc. (HWM)
CIK: 0000004281
Period of Report: 2020-04-02
Reporting Person: PLANT JOHN C (Director, Co-CEO)
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2020-04-02 | Restricted Stock Units | $ | A | 1000000 | Acquired | Common Stock (1000000) | Direct | |
| 2020-04-02 | Restricted Stock Units | $ | A | 1800000 | Acquired | Common Stock (1800000) | Direct |
Footnotes
F1: Each restricted stock unit represents a contingent right to receive one share of common stock of Howmet Aerospace Inc. ("Howmet") or, at Howmet's election, cash equivalent to the fair market value thereof.
F2: The restricted stock units will vest in three equal installments on March 31, 2021, March 31, 2022 and March 31, 2023, respectively, and subject to the reporting person's continued employment through the applicable vesting date.
F3: These restricted stock units vest in full or in part on March 31, 2023, and are contingent on Mr. Plant's continued service as Co-Chief Executive Officer through such date and the achievement of certain performance goals relating to Howmet's stock price and subject to partial or full accelerated vesting upon the occurrence of certain events. Vested restricted stock units will be settled in shares or cash, as applicable, within 30 days following the vesting date.
F4: On April 1, 2020, Arconic Inc. completed the separation of its business into two independent, publicly-traded companies (the "Separation"): Howmet and Arconic Corporation. In connection with the Separation, all equity awards held by the reporting person with respect to Arconic Inc.'s common stock as of the Separation will be adjusted in a manner intended to preserve the aggregate intrinsic value of the original award. The amount of securities reported on this Form 4 do not reflect such adjustment, to the extent applicable, and this Form 4 will be amended in a subsequent filing to reflect such adjustment.