Kaiser Aluminum (KALU) director granted restricted stock and fee-share awards

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

HOFFMAN JAMES DONALD reported acquisition or exercise transactions in this Form 4 filing.

Kaiser Aluminum Corp director James Donald Hoffman reported stock-based compensation grants, not open-market trades. He received 589 shares of common stock as restricted stock under the Kaiser Aluminum Corporation 2021 Equity and Incentive Compensation Plan, with all restrictions scheduled to lapse on June 4, 2027.

He also received 786 shares under the same plan in lieu of some or all of his annual cash retainer for serving on the Board and its committees, with the amount based on the average closing price over the 20 trading days prior to June 4, 2026. Following these awards, he directly holds 3,171 shares of Kaiser Aluminum common stock.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider HOFFMAN JAMES DONALD

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, par value $0.01 per share	786	$0.00	--
Grant/Award	Common Stock, par value $0.01 per share	589	$178.10	$105K

Holdings After Transaction: Common Stock, par value $0.01 per share — 3,171 shares (Direct, null)

Footnotes (1)

Grant to the reporting person of restricted stock under the Kaiser Aluminum Corporation 2021 Equity and Incentive Compensation Plan, as amended and restated. All restrictions will lapse on June 4, 2027. Stock received by the reporting person under the Kaiser Aluminum Corporation 2021 Equity and Incentive Compensation Plan, as amended and restated, at such person's election in lieu of all or a portion of the reporting person's annual cash retainer for serving as a member of the Board of Directors of Kaiser Aluminum Corporation and chair or a member of one or more committees of the Board of Directors. Equal to the average closing price of the Issuer's common stock as reported by the Nasdaq Stock Market, LLC for the 20 trading days prior to June 4, 2026.

Key Figures

Restricted stock grant: 589 shares Grant reference price: $178.10 per share Shares in lieu of cash retainer: 786 shares +2 more

5 metrics

Restricted stock grant 589 shares Restricted stock under 2021 Equity and Incentive Compensation Plan; restrictions lapse June 4, 2027

Grant reference price $178.10 per share Reported price per share for 589-share restricted stock grant

Shares in lieu of cash retainer 786 shares Stock received instead of all or part of annual Board cash retainer

Director holdings after transactions 3,171 shares Direct ownership of Kaiser Aluminum common stock following reported awards

Pricing methodology period 20 trading days Average closing price period used to value shares received in lieu of cash as of June 4, 2026

Key Terms

restricted stock, Equity and Incentive Compensation Plan, annual cash retainer, average closing price

4 terms

restricted stock financial

"Grant to the reporting person of restricted stock under the Kaiser Aluminum Corporation 2021 Equity and Incentive Compensation Plan"

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

Equity and Incentive Compensation Plan financial

"under the Kaiser Aluminum Corporation 2021 Equity and Incentive Compensation Plan, as amended and restated"

annual cash retainer financial

"in lieu of all or a portion of the reporting person's annual cash retainer for serving as a member of the Board of Directors"

average closing price financial

"Equal to the average closing price of the Issuer's common stock as reported by the Nasdaq Stock Market, LLC for the 20 trading days prior to June 4, 2026."

The average closing price is the arithmetic mean of a security’s end-of-day prices over a chosen period, found by adding each day’s closing price and dividing by the number of days. It smooths out daily ups and downs to show a typical market value—like averaging daily temperatures to understand a month’s climate—and helps investors spot trends, judge whether a stock is generally rising or falling, and make clearer buy or sell decisions.

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Form 4 Insider Transactions: What Each Field Means →

06/05/2026 - 05:49 PM

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^*

HOFFMAN JAMES DONALD

(Last)

(First)

(Middle)

1550 W. MCEWEN DRIVE, SUITE 500

(Street)

FRANKLIN

TENNESSEE

37067

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
KAISER ALUMINUM CORP [ KALU ]

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

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/04/2026

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, par value $0.01 per share	06/04/2026		A		786⁽¹⁾	A	$0	3,171⁽¹⁾	D
Common Stock, par value $0.01 per share	06/04/2026		A		589⁽²⁾	A	$178.1⁽³⁾	3,760	D

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Grant to the reporting person of restricted stock under the Kaiser Aluminum Corporation 2021 Equity and Incentive Compensation Plan, as amended and restated. All restrictions will lapse on June 4, 2027.

2. Stock received by the reporting person under the Kaiser Aluminum Corporation 2021 Equity and Incentive Compensation Plan, as amended and restated, at such person's election in lieu of all or a portion of the reporting person's annual cash retainer for serving as a member of the Board of Directors of Kaiser Aluminum Corporation and chair or a member of one or more committees of the Board of Directors.

3. Equal to the average closing price of the Issuer's common stock as reported by the Nasdaq Stock Market, LLC for the 20 trading days prior to June 4, 2026.

	/s/ Cherrie I. Tsai, with power of attorney for James D. Hoffman	06/05/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did KALU director James Donald Hoffman report?

James Donald Hoffman reported acquiring stock-based compensation awards. He received 589 restricted shares and 786 additional shares in lieu of his annual cash retainer, all in Kaiser Aluminum common stock under the company’s 2021 Equity and Incentive Compensation Plan.

Were James Donald Hoffman’s KALU transactions open-market buys or compensation grants?

The transactions were compensation-related grants, not open-market purchases. Both awards were reported with code A as grants or awards under Kaiser Aluminum’s 2021 Equity and Incentive Compensation Plan for his service on the Board and its committees.

How many KALU shares does James Donald Hoffman hold after these Form 4 transactions?

After these transactions, James Donald Hoffman directly holds 3,171 shares of Kaiser Aluminum common stock. This total reflects his updated position following the restricted stock grant and the additional shares received instead of a portion of his annual cash retainer.

When do the restrictions lapse on James Donald Hoffman’s KALU restricted stock grant?

All restrictions on the 589 restricted shares granted to James Donald Hoffman are scheduled to lapse on June 4, 2027. At that time, subject to plan terms, the restricted stock should become fully vested as regular common shares of Kaiser Aluminum.

How was the value of the KALU shares received in lieu of cash determined?

The value of the shares received in lieu of cash was based on the average closing price of Kaiser Aluminum’s common stock for the 20 trading days prior to June 4, 2026. This average price was used to convert the cash retainer into an equivalent stock amount.

What compensation plan governed James Donald Hoffman’s KALU stock awards?

Both awards were granted under the Kaiser Aluminum Corporation 2021 Equity and Incentive Compensation Plan, as amended and restated. This plan allows directors to receive restricted stock and to elect stock instead of some or all of their annual cash retainers.