Form 4: Alcoa CEO William Oplinger Reports Share Withholding for Tax Obligations and 401(k) Plan Activity

Alcoa Corp CEO William F. Oplinger reports the withholding of shares to cover tax obligations related to vesting restricted stock units and fluctuations in his 401(k) plan.

Summary

• William F. Oplinger, CEO and Director of Alcoa Corp, filed a Form 4 on January 28, 2025, reporting changes in his beneficial ownership of Alcoa stock.
• On January 24, 2025, 12,163 shares were withheld by Alcoa to satisfy Oplinger's tax obligations upon the vesting of restricted stock units (RSUs) at a price of $37.43 per share.
• The RSUs were granted in 2024 and vest ratably over three years.
• Oplinger also reported a change of 545 shares held indirectly through the company's 401(k) plan, reflecting fluctuations in the plan's unit reporting method.
• Following these transactions, Oplinger directly owns 193,819 shares of Alcoa common stock.
• A Power of Attorney was executed on February 13, 2024, granting authority to several individuals to act on Oplinger's behalf for SEC filings related to Alcoa securities.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing, indicating standard executive compensation practices and 401(k) plan activity. There are no indications of significant positive or negative events, resulting in a neutral to slightly positive sentiment.

Industry Context

Form 4 filings are standard practice for corporate insiders to report changes in their ownership of company stock, ensuring transparency and compliance with SEC regulations.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units (RSUs) that vest over time, a common practice among publicly traded companies like Alcoa to align executive interests with shareholder value.
• Tax withholding on vesting RSUs is a standard procedure, and the reported share price of $37.43 is relevant for assessing the value of the transaction.
• Fluctuations in 401(k) holdings are typical and reflect market performance and employee contributions, similar to what would be seen at companies like Rio Tinto or BHP.

Stakeholder Impact

• Shareholders are informed about executive compensation and ownership changes.
• Employees participating in the 401(k) plan are indirectly affected by the fluctuations in share amounts within the plan.

Key Dates