Parkinson Ray Form 4 KAISER ALUMINUM / Ray Parkinson ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:	3235-0287
Estimated average burden
hours per response:	0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Parkinson Ray

(Last) (First) (Middle)

C/O KAISER ALUMINUM CORP.

27422 PORTOLA PARKWAY SUITE 200

(Street)

FOOTHILL RANCH CA 92610

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
KAISER ALUMINUM CORP [ KALU ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
VP - Advanced Engineering

3. Date of Earliest Transaction (Month/Day/Year)
03/05/2017

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.01 per share	03/05/2017		A		1,936(1)	A	$0(1)	10,532(2)(3)	D
Common Stock, par value $0.01 per share	03/05/2017		A		3,182(4)	A	$0(4)	13,714(2)(3)	D
Common Stock, par value $0.01 per share	03/05/2017		F(5)		1,240	D	$79.69	12,474(2)(3)	D
Common Stock, par value $0.01 per share	03/05/2017		F(6)		795	D	$79.69	11,679	D
Common Stock, par value $0.01 per share								9,082	I	By Family Trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Options (Right to Buy)	$80.01							(7)	04/03/2017	Common Stock, par value $0.01 per share	643		643	D

Explanation of Responses:

1. Grant to the reporting person effective as of March 5, 2017 of restricted stock units under the Kaiser Aluminum Corporation 2016 Equity and Incentive Compensation Plan. All restrictions will lapse on March 5, 2020 or earlier upon the occurrence of certain specified circumstances.

2. The acquisition of 1,993 shares was inadvertently reported as a grant of restricted stock on the reporting person's prior Form 4. Such shares were acquired pursuant to a grant of restricted stock units. These restricted stock units have the same vesting terms as previously reported.

3. Includes 3,929 shares acquired pursuant to grants of restricted stock units.

4. Shares earned upon the vesting on March 5, 2017 of certain performance shares granted to the reporting person in 2014 under the Kaiser Aluminum Corporation 2006 Equity and Performance Incentive Plan, as amended. On March 5, 2017, the Registrant's compensation committee certified the performance shares payout multiplier based on the level of achievement by the Registrant of a certain pre-established performance goal for 2014 through 2016.

5. Shares withheld to satisfy the withholding tax obligations resulting from the vesting on March 5, 2017 of the above-referenced performance shares.

6. Shares withheld to satisfy the withholding tax obligations resulting from the vesting on March 5, 2017 of certain shares granted to the reporting person in 2014 under the Kaiser Aluminum Corporation 2006 Equity and Performance Incentive Plan, as amended.

7. Stock option award granted on April 3, 2007 for 643 shares of common stock, with one-third of such options vested on each of the first, second and third anniversaries of the grant date.

Remarks:

	/s/ Cherrie I. Tsai, with power of attorney for Raymond Parkinson	03/07/2017
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.