AA Alcoa Corporation

FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES                                                                                   
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response... 0.5                       
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940                       

1. Name and Address of Reporting Person * Oplinger William F	2. Issuer Name and Ticker or Trading Symbol Alcoa Corp [ AA ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director                    _____ 10% Owner __X__ Officer (give title below)    _____ Other (specify below) EVP & CFO
(Last)          (First)          (Middle) 201 ISABELLA STREET, SUITE 500	3. Date of Earliest Transaction (MM/DD/YYYY) 11/16/2021
(Street) PITTSBURGH, PA 15212-5858 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	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. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. 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	11/16/2021		M		22466	A	$15.10	207816	D
Common Stock, par value $0.01 per share	11/16/2021		M		32130	A	$37.68	239946	D
Common Stock, par value $0.01 per share	11/16/2021		M		19613	A	$27.96	259559	D
Common Stock, par value $0.01 per share	11/16/2021		S		166369	D	$48.3961 (1)	93190	D
Common Stock, par value $0.01 per share								531 (2)	I	By Company 401(k) Plan

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. 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		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 of Derivative Security: 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 Option (right to buy)	$15.10	11/16/2021		M			22466	1/19/2017 (3)	1/19/2026	Common Stock	22466	$0.00	0	D
Employee Stock Option (right to buy)	$37.68	11/16/2021		M			32130	2/2/2018 (3)	2/2/2027	Common Stock	32130	$0.00	0	D
Employee Stock Option (right to buy)	$27.96	11/16/2021		M			19613	1/24/2020 (4)	1/24/2029	Common Stock	19613	$0.00	9807	D

Explanation of Responses:
(1)	The price reported in column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $48.0500 - $48.7900. The reporting person undertakes to provide to Alcoa Corporation, any security holder of Alcoa Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote.
(2)	Fluctuations in 401(k) share amounts reflect the plan's unit reporting method; units represent interests in the Company's stock fund.
(3)	This option vested in equal installments over three years beginning on the date shown.
(4)	This option was part of an option grant vesting in three equal annual installments beginning on the date shown. The installments exercised by the reporting person as reported herein vested on January 24, 2020 and January 24, 2021.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Oplinger William F 201 ISABELLA STREET SUITE 500 PITTSBURGH, PA 15212-5858			EVP & CFO

Signatures
/s/ Marissa P. Earnest, attorney-in-fact for William F. Oplinger		11/18/2021
**Signature of Reporting Person		Date