Form 4: Howmet Aerospace EVP Sells Shares for Tax Liability

Howmet Aerospace's EVP and CAO, Neil Edward Marchuk, disposed of 5,255 shares of common stock to cover tax liabilities related to a stock award vesting.

Summary

• Neil Edward Marchuk, Executive Vice President and Chief Accounting Officer of Howmet Aerospace Inc. (HWM), reported a transaction involving company common stock.
• On December 31, 2025, Marchuk disposed of 5,255 shares of Howmet Aerospace Common Stock at a price of $205.02 per share.
• This disposition was a non-discretionary transaction (Code F) for the payment of tax liability incident to the vesting of a stock award, in accordance with Rule 16b-3.
• Following this transaction, Marchuk directly beneficially owns 126,636 shares of common stock.
• The direct beneficial ownership includes 32 shares acquired through dividend reinvestment since the date of the last ownership report.
• Marchuk also indirectly beneficially owns 10 shares held in a revocable trust, where he serves as trustee and beneficiary with voting and investment power.

Sentiment

Score: 6

Explanation: The transaction is a non-discretionary sale of shares to cover tax obligations arising from a stock award vesting, which is a routine event for executive compensation. It does not reflect a change in investment sentiment by the executive.

Positives

• The transaction is related to the vesting of a stock award, indicating compensation for the executive.
• The sale was non-discretionary, specifically for tax liability, rather than a market-timing sale.
• The executive still retains a significant number of shares (126,646 total beneficial ownership).

Negatives

• A reduction in the executive's direct beneficial ownership of common stock by 5,255 shares.

Risks

• NA

Future Outlook

NA

Management Comments

• NA

Industry Context

This filing is a routine insider transaction report and does not provide information related to broader industry trends or competitive landscape.

Comparison to Industry Standards

• NA

Management Changes

Corporate Governance

Legal Proceedings

• NA

Related Party Transactions

• 10 shares are held indirectly in a revocable trust where the reporting person is trustee and beneficiary, having voting and investment power.

Stakeholder Impact

• Minimal impact on shareholders as the transaction is a routine tax-related disposition of shares, not a discretionary sale indicating a change in executive confidence.

Next Steps

• NA

Key Dates

Recommendation

This Form 4 reports a routine, non-discretionary sale of shares by an executive to cover tax liabilities associated with a stock award vesting. Such transactions are common and typically do not signal a change in the company's fundamentals or the executive's long-term outlook. Therefore, a 'hold' recommendation is appropriate as this filing does not provide new information to alter an investment thesis.

Keywords

Howmet Aerospace, HWM, Form 4, Insider Transaction, Stock Award, Tax Liability, Executive Compensation, Neil Edward Marchuk