X0306 4 2014-01-29 0000004281 ALCOA INC AA 0001510406 Jarrault Olivier M 390 PARK AVENUE NEW YORK NY 10022 0 1 0 0 Executive Vice President Common Stock 2014-01-29 4 M 0 17500 8.33 A 260853 D Common Stock 2014-01-29 4 F 0 14932 12.1554 D 245921 D Common Stock 2014-01-29 4 M 0 27000 8.88 A 272921 D Common Stock 2014-01-29 4 F 0 23630 12.1554 D 249291 D Common Stock 2014-01-29 4 M 0 17500 8.33 A 266791 D Common Stock 2014-01-29 4 S 0 17500 12.1554 D 249291 D Common Stock 2014-01-29 4 M 0 27000 8.88 A 276291 D Common Stock 2014-01-29 4 S 0 27000 12.1554 D 249291 D Common Stock 2014-01-29 4 S 0 2969 12.1554 D 246322 D Common Stock 16385 I By Company 401(k) Plan Employee Stock Option (right to buy) 8.33 2014-01-29 4 M 0 35000 0 D 2015-01-23 Common Stock 35000 0 D Employee Stock Option (right to buy) 8.88 2014-01-29 4 M 0 54000 0 D 2023-01-16 Common Stock 54000 110290 D The price reported in column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $12.0001 to $12.17. 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 is part of an option grant that vests in three equal annual installments beginning January 23, 2010. One-half of the options exercised by the reporting person vested on January 23, 2010 and one-half vested on January 23, 2011. Employee stock options are granted without payment of consideration. In the aggregate, a total of 440,720 employee stock options (with various exercise prices and expiration dates) were beneficially owned by the reporting person as of the date of this report. This option is part of an option grant that vests in three equal annual installments beginning January 16, 2014. The installment exercised by the reporting person as reported herein vested on January 16, 2014. Brenda Hart (Assistant Secretary), by power of attorney 2014-01-30