Form 4: Howmet Aerospace Inc. Executive Acquires Phantom Stock Units

Vice President Michael Niem Chanatry acquired 156 phantom stock units in Howmet Aerospace through a deferred compensation plan.

Summary

• On April 30, 2024, Michael Niem Chanatry, a Vice President at Howmet Aerospace Inc., acquired 156 phantom stock units under the company's Deferred Compensation Plan.
• Each phantom stock unit is equivalent to one share of Howmet Aerospace common stock.
• The acquisition occurred at a price of $67.46 per unit.
• Following the transaction, Chanatry directly owns 53,012 phantom stock units.
• These units will be paid out in cash after termination of employment and can be transferred into an alternative investment account under the plan at permitted times.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine transaction related to executive compensation. The acquisition of stock units by an executive is generally viewed as a positive sign, but it's not a major event.

Positives

• The acquisition of phantom stock units by a company executive can be seen as a positive sign, indicating confidence in the company's future performance.

Future Outlook

The phantom stock units will be paid out in cash after termination of employment.

Industry Context

Executive compensation through stock and phantom stock units is a common practice in publicly traded companies to align management's interests with those of shareholders.

Comparison to Industry Standards

• Stock options and restricted stock units are common forms of equity compensation.
• Phantom stock units are less common than stock options or restricted stock units, but are often used in deferred compensation plans.
• The prevalence and structure of these plans vary widely across industries and companies.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns executive interests with company performance.

Key Dates