DONNAN JOHN MALCOLM 4

What Happened
John Malcolm Donnan, EVP, Chief Administrative Officer and General Counsel of Kaiser Aluminum (KALU), reported the sale of 2,743 shares (open market/private sale) on April 27, 2026, for a weighted average price of $178.20 per share, totaling approximately $488,807. He also reported a bona fide gift of 1,500 shares to a charitable trust on April 28, 2026 (no proceeds).

Key Details

• Transaction dates: Apr 27, 2026 (sale) and Apr 28, 2026 (gift). Filing date: Apr 29, 2026. Filing appears to be within the normal Form 4 reporting window (filed two days after the first trade).
• Sale details: 2,743 shares sold in multiple transactions at prices ranging from $175.96 to $179.41; weighted average sale price $178.20 (footnote F1). Total proceeds ≈ $488,807.
• Gift details: 1,500 shares transferred as a bona fide gift to a charitable trust for no consideration (footnote F3).
• Holdings note: Footnote F2 indicates 17,422 shares were acquired pursuant to restricted stock unit grants (this relates to holdings/awards disclosed in the filing). The filing excerpt does not state the total shares owned by the reporting person after these transactions.
• No 10b5‑1 plan, tax‑withholding sale, or option exercise is referenced in the provided excerpt.

Context

• The sale is an outright disposition (S) and the gift (G) is a charitable transfer; gifts do not necessarily reflect the insider’s view on the company’s outlook. Sales are common for liquidity or diversification and are not, by themselves, a clear signal of company prospects.
• Footnote F1 offers to provide a breakdown of how many shares were sold at each price within the reported range if requested by the SEC, registrant, or a security holder.