Form 4: Howmet Aerospace Inc. Executive Michael N. Chanatry Reports Acquisition of Phantom Stock Units

Vice President Michael N. Chanatry of Howmet Aerospace Inc. reports the acquisition of phantom stock units under the company's deferred compensation plan.

Summary

• On July 31, 2024, Michael N. Chanatry, a Vice President at Howmet Aerospace Inc., acquired 110 phantom stock units under the Howmet Aerospace Deferred Compensation Plan.
• Each phantom stock unit is equivalent to one share of Howmet Aerospace common stock.
• The phantom stock units will be paid out in cash after termination of employment, and the reporting person may transfer the units into an alternative investment account under the plan at permitted times.
• Following the reported transaction, Chanatry directly owns 53,186 phantom stock units.

Sentiment

Score: 7

Explanation: The document reflects a routine executive compensation transaction, which is generally viewed neutrally. The acquisition of phantom stock units can be seen as a positive sign of alignment between management and shareholders.

Positives

• The acquisition of phantom stock units aligns the executive's interests with the long-term performance of Howmet Aerospace.
• The deferred compensation plan provides a mechanism for executives to accumulate wealth tied to the company's stock performance.

Future Outlook

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

Industry Context

Executive compensation packages often include stock-based awards to incentivize performance and align executive interests with shareholder value. Phantom stock units are a common tool used for this purpose.

Stakeholder Impact

• The acquisition of phantom stock units aligns the executive's interests with shareholders, potentially driving long-term value creation.

Key Dates