X0306 4 2014-10-14 0000004281 ALCOA INC. AA 0001268014 KLEINFELD KLAUS 390 PARK AVENUE NEW YORK, NY 10022 1 1 0 0 Chairman and CEO Common Stock 2014-10-14 4 M 0 800000 8.33 A 2206450 D Common Stock 2014-10-14 4 S 0 800000 14.3327 D 1406450 D Common Stock 7836 I By Company 401(k) Plan Employee Stock Option (right to buy) 8.33 2014-10-14 4 M 0 800000 0 D 2015-01-23 Common Stock 800000 800000 D The transactions reported on this Form 4 (exercise of employee stock options expiring on January 23, 2015 and sale of shares acquired upon the exercise) were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on February 18, 2014. A portion of the proceeds of the sale of shares was used to pay the exercise price of the stock options and applicable withholding taxes. The price reported in column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $14.06 to $14.71. The reporting person undertakes to provide to Alcoa Inc., any security holder of Alcoa Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote. The option, representing a right to purchase a total of 2,400,000 shares, became exercisable in three equal annual installments beginning on January 23, 2010, which was the first anniversary of the date on which the option was granted. Employee stock options are granted without payment of consideration. Brenda Hart (Assistant Secretary), by power of attorney 2014-10-16