West Neal E 4

What Happened

• West Neal E, EVP & Chief Financial Officer of Kaiser Aluminum (KALU), received equity awards and had performance shares vest on March 5, 2026. The filing shows two award entries (3,905 and 12,296 shares) reported as acquisitions at $0.00 (awarded/vested).
• To satisfy tax withholding on the vesting, 3,694 shares and 1,761 shares were withheld (reported as dispositions) at a per-share value of $125.84, resulting in a total withholding value of $464,853 and $221,604 respectively (combined ≈ $686,457). These were tax-withholding transactions, not open-market sales.

Key Details

• Transaction date: March 5, 2026; Form 4 filed March 9, 2026 (filed within the required 2 business days).
• Reported award lines: 3,905 shares and 12,296 shares acquired (price reported $0.00).
• Shares withheld for taxes (dispositions): 3,694 and 1,761 shares at $125.84/share (total withheld = 5,455 shares; total value ≈ $686,457).
• Footnotes: awards are restricted stock units (RSUs) under the company’s 2021 Equity and Incentive Compensation Plan; restrictions on the new RSUs generally lapse March 5, 2029. The filing also notes the March 5, 2026 vesting of performance shares granted in 2023, with the compensation committee certifying the payout multiplier.
• Transaction codes: A = Award/Grant; F = shares withheld to satisfy tax liabilities.
• Shares owned after the transactions are not specified in the information provided in your prompt.

Context

• These entries represent equity compensation and tax withholding on vested awards, not a discretionary open‑market sale. Withholding of shares to cover taxes is a routine administrative step and does not by itself indicate a change in the insider’s market view.
• For retail investors, purchases/holdings can be more informative than routine award vesting; this filing mainly documents compensation-related activity and tax withholding.