X0303 4 2011-03-03 0 0000811596 KAISER ALUMINUM CORP KALU 0001421348 McAuliffe James E C/O KAISER ALUMINUM CORP. 27422 PORTOLA PARKWAY SUITE 200 FOOTHILL RANCH CA 92610 0 1 0 0 Sr. VP - Human Resources Common Stock, par value $0.01 per share 2011-03-03 4 F 0 745 48.86 D 19634 D Common Stock, par value $0.01 per share 2011-03-04 4 A 0 505 0.00 A 20139 D Common Stock, par value $0.01 per share 2011-03-04 4 F 0 213 49.41 D 19926 D Common Stock, par value $0.01 per share 2011-03-05 4 A 0 2539 0.00 A 22465 D Common Stock, par value $0.01 per share 2011-03-05 4 F 0 1113 49.41 D 21352 D Shares withheld to satisfy the withholding tax obligations resulting from the vesting on March 3, 2011 of certain shares granted to the reporting person in 2008 under the Kaiser Aluminum Corporation 2006 Equity and Performance Incentive Plan, as amended. Shares earned upon the vesting on March 4, 2011 of certain performance shares granted to the reporting person in 2008 under the Kaiser Aluminum Corporation 2006 Equity and Performance Incentive Plan, as amended. On March 4, 2011, the Registrant's compensation committee certified the performance shares payout multiplier based on the level of achievement by the Registrant of a certain pre-established performance goal for 2008 through 2010. Shares withheld to satisfy the withholding tax obligations resulting from the vesting on March 4, 2011 of the above-referenced performance shares. Grant to the reporting person effective as of March 5, 2011, of restricted stock under the Kaiser Aluminum Corporation Amended and Restated 2006 Equity and Performance Incentive Plan. All restrictions will lapse on March 5, 2014 or earlier upon the occurrence of certain specified circumstances. Shares withheld to satisfy the withholding tax obligations resulting from the recognition of income with respect to the grant of restricted shares on March 5, 2011 under the Kaiser Aluminum Corporation 2006 Equity and Performance Incentive Plan, as amended. The restricted shares are not subject to a substantial risk of forfeiture for tax purposes as a result of the reporting person reaching age 65 on June 7, 2010. /s/ John M. Donnan, with power of attorney for James E. McAuliffe, Jr. 2011-03-07