Alcoa (NYSE: AA) grants CEO William Oplinger 66,660 stock units

Rhea-AI Filing Summary

Alcoa Corporation’s President and CEO William F. Oplinger received an equity award of 66,660 shares of common stock on January 28, 2026. The filing describes this as an award of restricted stock units that will be settled in stock as they vest.

The RSUs generally vest in three equal parts on the first, second, and third anniversaries of the grant date, aligning compensation with multi‑year performance. Following this grant, Oplinger beneficially owns 343,778 Alcoa common shares directly, plus 542 shares indirectly through the company’s 401(k) plan.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Oplinger William F

Role President, CEO & Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, par value $0.01 per share	66,660	$0.00	--
holding	Common Stock, par value $0.01 per share	--	--	--

Holdings After Transaction: Common Stock, par value $0.01 per share — 343,778 shares (Direct); Common Stock, par value $0.01 per share — 542 shares (Indirect, By Company 401(k) Plan)

Footnotes (1)

1. Award of restricted stock units (RSUs), which are settled in stock upon vesting, and generally will vest ratably over a three-year period on the first, second, and third anniversary of the date of grant. Fluctuations in 401(k) share amounts reflect the plan's unit reporting method; units represent interests in the Company's stock fund.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Oplinger William F

(Last) (First) (Middle)

201 ISABELLA STREET, SUITE 500

(Street)

PITTSBURGH PA 15212

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Alcoa Corp [ AA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President, CEO & Director

3. Date of Earliest Transaction (Month/Day/Year)
01/28/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.01 per share	01/28/2026		A		66,660(1)	A	$0.00	343,778	D
Common Stock, par value $0.01 per share								542(2)	I	By Company 401(k) Plan

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Award of restricted stock units (RSUs), which are settled in stock upon vesting, and generally will vest ratably over a three-year period on the first, second, and third anniversary of the date of grant.

2. Fluctuations in 401(k) share amounts reflect the plan's unit reporting method; units represent interests in the Company's stock fund.

	/s/ Marissa P. Earnest, attorney-in-fact for William F. Oplinger	01/30/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Alcoa (AA) report in William Oplinger’s latest Form 4?

Alcoa reported that President and CEO William F. Oplinger received 66,660 restricted stock units on January 28, 2026. These RSUs are settled in Alcoa common stock as they vest, representing part of his equity-based compensation package as a senior executive.

How many Alcoa shares does CEO William Oplinger own after this Form 4?

After the reported transaction, William F. Oplinger beneficially owns 343,778 shares of Alcoa common stock directly. He also has an indirect interest in 542 shares through the company’s 401(k) plan, which uses units tied to Alcoa’s stock fund.

What are the terms of the 66,660 restricted stock units granted to Alcoa’s CEO?

The 66,660 restricted stock units granted to Alcoa’s CEO will be settled in stock upon vesting. They generally vest ratably over three years, with one-third vesting on each of the first, second, and third anniversaries of the January 28, 2026 grant date.

Was there any cash paid for the Alcoa shares reported in this Form 4?

No cash changed hands for the 66,660 shares reported in this Form 4, as the transaction price is listed as $0.00 per share. The shares reflect an equity award of restricted stock units granted to the CEO rather than an open-market stock purchase.

How is William Oplinger’s 401(k) ownership in Alcoa stock reported?

The filing shows William Oplinger indirectly holding 542 Alcoa shares through the company’s 401(k) plan. The footnote explains that fluctuations in this amount reflect the plan’s unit reporting method, where units represent interests in Alcoa’s stock fund rather than direct share trades.

What roles does William Oplinger hold at Alcoa as disclosed in the Form 4?

The Form 4 lists William F. Oplinger as President, Chief Executive Officer, and Director of Alcoa Corporation. He is identified as both an officer and a director, but not as a 10% owner, which explains why his equity awards require Section 16 reporting.