Barger Hugh J. III 4

What Happened

• Hugh J. Barger III, EVP — Sales & Marketing at Kaiser Aluminum (KALU), was granted 1,686 restricted stock units (RSUs) on March 5, 2026. The Form 4 records the acquisition price as $0 (transaction code A — award). These RSUs are awards, not open-market purchases or sales.

Key Details

• Transaction date: 2026-03-05; Grant: 1,686 RSUs at $0.00 (reported acquisition value $0).
• Filing date: 2026-03-09 (appears filed within the normal Form 4 reporting window).
• Vesting: Restrictions lapse on March 5, 2029, or earlier upon certain specified circumstances (per footnote).
• Footnotes: F1 — RSU grant under the Kaiser Aluminum 2021 Equity and Incentive Compensation Plan; F2 — shares are acquired pursuant to RSU grants.
• Shares owned after the transaction: not specified in the provided filing details.

Context

• RSUs are compensation awards that convert to common shares only upon vesting; they do not represent an immediate cash purchase or sale. Such grants are routine for executive pay and do not by themselves indicate buying or selling intent. The economic value to the insider will depend on KALU’s stock price at vesting or upon any earlier vesting event.