X0303 4 2011-01-20 0000004281 ALCOA INC AA 0001268014 KLEINFELD KLAUS 201 ISABELLA STREET PITTSBURGH PA 15212 1 1 0 0 Chairman and CEO Common Stock 2011-01-20 4 A 0 95428 0 A 634294 D Common Stock 3530 I By Company 401(k) Plan Employee Stock Option (right to buy) 13.54 2011-01-20 4 A 0 886320 A 2020-01-26 Common Stock 886320 886320 D The option vests in three annual installments as follows: 1/3 vests on January 26, 2011, 1/3 vests on January 26, 2012 and 1/3 vests on January 26, 2013. Employee stock options are granted without payment of consideration. On January 26, 2010, the reporting person was granted a performance stock option at a target level of 886,320 shares, with the actual number to be received to be based on Alcoa's free cash flow and profit performance for 2010. Based on the calculation of Alcoa's performance for 2010, the reporting person received on January 20, 2011 an option to purchase 886,320 shares of Alcoa common stock. In the aggregate, a total of 3,375,606 employee stock options (with various exercise prices and expiration dates) were beneficially owned by the reporting person as of the date of this report. Brenda Hart (Assistant Secretary), by power of attorney 2011-01-24