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Alcoa Officers, Directors Increase Their Ownership in Alcoa
PITTSBURGH--March 9, 2000--
Form 4 reports for the month of February 2000 were filed today by nine
Alcoa officers and three Alcoa directors.
All nine officers reported employee stock option transactions. The
officers exercised options for 1.1 million shares and sold 853,629 of
the shares - principally to pay the option exercise price and related
tax withholdings. These officers increased their directly held share
ownership in Alcoa by 233,275 shares (or 27%) from January. They now
directly own 1,090,826 shares.
The Alcoa employee stock ownership plan includes a reload feature that
encourages early option exercise to increase share ownership. One-half
of the net (after-tax) shares received in the option exercise must be
held by the officers for five years or the remainder of his/her career
with Alcoa, whichever is shorter. The grant of new "reload" options at
current market prices permits the participants to continue to share in
future increases in the stock's value.
The three director filings reported share purchases.
For additional information, please contact:
Joyce A. Saltzman