[Form 4] Howmet Aerospace Inc. Insider Trading Activity

Rhea-AI Filing Summary

Juniper Networks (JNPR) – Form 4 filed by director Scott Kriens

The filing records the mandatory disposition of all Juniper equity held, directly or indirectly, by Mr. Kriens on 07/02/2025, the effective date of Juniper’s merger with Hewlett Packard Enterprise (HPE). Under the Merger Agreement, each outstanding share of Juniper common stock was automatically converted into the right to receive $40.00 in cash.

• Trust-held common stock disposed: 237,531 shares (Direct Trust), 1,860,000 shares (CR Unitrust), and 180,000 shares (KDI Trust LP).
• All 6,840 restricted stock units (RSUs) cancelled and cash-settled at the same $40.00 per-share rate.
• Post-transaction beneficial ownership reported as zero; Juniper is now a wholly owned subsidiary of HPE.

The reported transactions reflect corporate action, not open-market activity. For former JNPR shareholders, the filing confirms receipt of the agreed cash consideration and the termination of Juniper’s public-equity status.

Positive

• $40.00 per-share cash consideration confirmed for all Juniper common shares and RSUs upon merger close.
• Legal completion of HPE acquisition eliminates execution risk for cash-out shareholders.

Negative

• Juniper common stock cancelled; investors no longer hold equity with future upside in the standalone company.

Insights

Securities Analyst

TL;DR – Routine Form 4 confirms cash conversion of Juniper shares at $40 following merger.

This Form 4 simply documents the closing mechanics of the HPE–Juniper merger. The director’s trusts surrendered roughly 2.28 million shares and 6,840 RSUs, all converted at the pre-agreed $40 cash price. Because the merger terms were disclosed in January 2024, today’s filing offers no new valuation information and therefore has limited incremental impact on investors. It does, however, formally verify that shareholders received the full consideration and that Juniper equity has been extinguished.

M&A Specialist

TL;DR – Filing evidences legal completion of HPE’s acquisition; no surprises.

The disposition mirrors standard Section 16 reporting requirements when a target company is absorbed. All holdings convert into cash exactly as set out in the Merger Agreement. No contingent payouts, escrow, or earn-outs are referenced, signalling a clean, single-step close. From an integration standpoint, the absence of residual equity simplifies post-merger accounting. For transaction-arbitrage investors, the Form 4 provides final confirmation that the $40 cash consideration has been effected.

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^*

PLANT JOHN C

(Last) (First) (Middle)

201 ISABELLA STREET SUITE 200

(Street)

PITTSBURGH PA 15212-5872

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Howmet Aerospace Inc. [ HWM ]

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Chairman & CEO

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025

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	07/01/2025		A		255,363(1)	A	$0	2,449,034	D
Common Stock								551,196	I	By Trust(2)
Common Stock								236,544	I	By Remainder Trust(3)

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. Reflects grant of restricted share units that vest on July 1, 2028, subject to Mr. Plant's continued employment through such date and subject to partial or full vesting on the vesting date upon the occurrence of certain events.

2. Shares held in a trust, of which the reporting person is the trustee, grantor and beneficiary.

3. Shares held in a remainder trust, of which the reporting person is the trustee and grantor, and his children are the beneficiaries.

	/s/ Margaret Lam, Assistant Secretary (Attorney-in-Fact)	07/02/2025
	** 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 Form 4 for JNPR filed on 07/02/2025 report?

It showed that director Scott Kriens’ 2,277,531 shares and 6,840 RSUs were converted into cash at $40 per share due to the HPE merger.

How much cash did each Juniper share receive in the merger with HPE?

Each share was converted into the right to receive $40.00 in cash, without interest.

Were any Juniper RSUs outstanding after the merger?

No. All 6,840 RSUs held by Mr. Kriens were cancelled and settled in cash at the same $40 rate.

Does Scott Kriens still own Juniper stock after this Form 4 filing?

No. The filing reports zero shares or derivative securities remaining following the merger.

Why were the shares reported as "D" (disposed) rather than sold on the market?

The disposition occurred automatically under the merger terms, not through an open-market sale, so they are coded "D" for corporate action.