Ownership Submission
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

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
BELDA ALAIN J P
  2. Issuer Name and Ticker or Trading Symbol
ALCOA INC [AA]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chairman and CEO
(Last)
(First)
(Middle)
201 ISABELLA STREET
3. Date of Earliest Transaction (Month/Day/Year)
07/18/2007
(Street)

PITTSBURGH, PA 15212
4. If Amendment, Date 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
(City)
(State)
(Zip)
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 07/18/2007   M   11,139 A $ 39.05 1,232,896 (1) D  
Common Stock 07/18/2007   M   12,894 A $ 39.05 1,245,790 D  
Common Stock 07/18/2007   M   42,717 A $ 39.05 1,288,507 D  
Common Stock 07/18/2007   M   87,789 A $ 39.05 1,376,296 D  
Common Stock 07/18/2007   M   115,894 A $ 40.2187 1,492,190 D  
Common Stock 07/18/2007   M   320,522 A $ 36.5937 1,812,712 D  
Common Stock 07/18/2007   M   274,369 A $ 37.26 2,087,081 D  
Common Stock 07/18/2007   M   181,767 A $ 37.85 2,268,848 D  
Common Stock 07/18/2007   M   172,653 A $ 41.51 2,441,501 D  
Common Stock 07/18/2007   M   680,000 A $ 40.2187 3,121,501 D  
Common Stock 07/18/2007   M   643,390 A $ 36.035 3,764,891 D  
Common Stock 07/18/2007   M   421,053 A $ 36.87 4,185,944 D  
Common Stock 07/18/2007   F   568,086 D $ 46.45 3,617,858 D  
Common Stock 07/18/2007   F   375,723 D $ 46.45 3,242,135 D  
Common Stock 07/18/2007   S   9,188 D $ 46.48 3,232,947 D  
Common Stock 07/18/2007   S   1,400 D $ 46.475 3,231,547 D  
Common Stock 07/18/2007   S   46,801 D $ 46.47 3,184,746 D  
Common Stock 07/18/2007   S   11,810 D $ 46.46 3,172,936 D  
Common Stock 07/18/2007   S   23,600 D $ 46.45 3,149,336 D  
Common Stock 07/18/2007   S   14,200 D $ 46.44 3,135,136 D  
Common Stock 07/18/2007   S   14,200 D $ 46.43 3,120,936 D  
Common Stock 07/18/2007   S   100 D $ 46.425 3,120,836 D  
Common Stock 07/18/2007   S   3,700 D $ 46.42 3,117,136 D  
Common Stock 07/18/2007   S   4,600 D $ 46.41 3,112,536 D  
Common Stock 07/18/2007   S   3,800 D $ 46.4 3,108,736 D  
Common Stock 07/18/2007   S   7,200 D $ 46.39 3,101,536 D  
Common Stock 07/18/2007   S   12,200 D $ 46.38 3,089,336 D  
Common Stock 07/18/2007   S   6,700 D $ 46.37 3,082,636 D  
Common Stock 07/18/2007   S   69,150 D $ 46.36 3,013,486 D  
Common Stock 07/18/2007   S   99,417 D $ 46.35 2,914,069 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 Underlying Securities
(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) $ 39.05 07/18/2007   M     11,139 09/08/2001 01/13/2008 Common Stock 11,139 $ 0 (2) 0 (3) D  
Employee Stock Option (right to buy) $ 39.05 07/18/2007   M     12,894 09/08/2001 01/13/2008 Common Stock 12,894 $ 0 (2) 0 (3) D  
Employee Stock Option (right to buy) $ 39.05 07/18/2007   M     42,717 09/08/2001 01/13/2008 Common Stock 42,717 $ 0 (2) 0 (3) D  
Employee Stock Option (right to buy) $ 39.05 07/18/2007   M     87,789 09/08/2001 01/13/2008 Common Stock 87,789 $ 0 (2) 0 (3) D  
Employee Stock Option (right to buy) $ 40.2187 07/18/2007   M     115,894 07/14/2000 01/13/2008 Common Stock 115,894 $ 0 (2) 0 (3) D  
Employee Stock Option (right to buy) $ 36.5937 07/18/2007   M     320,522 08/16/2000 01/13/2009 Common Stock 320,522 $ 0 (2) 0 (3) D  
Employee Stock Option (right to buy) $ 46.1639 07/18/2007   A(4)   285,837   01/18/2008 01/13/2009 Common Stock 285,837 $ 0 (2) 285,837 (3) D  
Employee Stock Option (right to buy) $ 37.26 07/18/2007   M     274,369 06/19/2004 05/06/2009 Common Stock 274,369 $ 0 (2) 0 (3) D  
Employee Stock Option (right to buy) $ 46.2327 07/18/2007   A(4)   246,573   01/18/2008 05/06/2009 Common Stock 246,573 $ 0 (2) 246,573 (3) D  
Employee Stock Option (right to buy) $ 37.85 07/18/2007   M     181,767 05/20/2002 05/06/2009 Common Stock 181,767 $ 0 (2) 0 (3) D  
Employee Stock Option (right to buy) $ 46.2179 07/18/2007   A(4)   164,588   01/18/2008 05/06/2009 Common Stock 164,588 $ 0 (2) 164,588 (3) D  
Employee Stock Option (right to buy) $ 41.51 07/18/2007   M     172,653 01/13/2002 05/06/2009 Common Stock 172,653 $ 0 (2) 0 (3) D  
Employee Stock Option (right to buy) $ 46.2224 07/18/2007   A(4)   163,465   01/18/2008 05/06/2009 Common Stock 163,465 $ 0 (2) 163,465 (3) D  
Employee Stock Option (right to buy) $ 40.2187 07/18/2007   M     680,000 01/14/2001 01/14/2010 Common Stock 680,000 $ 0 (2) 0 (3) D  
Employee Stock Option (right to buy) $ 46.1736 07/18/2007   A(4)   634,222   01/18/2008 01/14/2010 Common Stock 634,222 $ 0 (2) 634,222 (3) D  
Employee Stock Option (right to buy) $ 36.035 07/18/2007   M     643,390 01/11/2003 01/11/2012 Common Stock 643,390 $ 0 (2) 0 (3) D  
Employee Stock Option (right to buy) $ 46.45 07/18/2007   A(4)   568,086   01/18/2008 01/11/2012 Common Stock 568,086 $ 0 (2) 568,086 (3) D  
Employee Stock Option (right to buy) $ 36.87 07/18/2007   M     421,053 08/15/2002 01/12/2011 Common Stock 421,053 $ 0 (2) 172,267 (3) D  
Employee Stock Option (right to buy) $ 46.45 07/18/2007   A(4)   375,723   01/18/2008 01/12/2011 Common Stock 375,723 $ 0 (2) 375,723 (3) D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
BELDA ALAIN J P
201 ISABELLA STREET
PITTSBURGH, PA 15212
  X     Chairman and CEO  

Signatures

 Brenda Hart (Assistant Secretary), by power of attorney   07/20/2007
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) This Form 4 is 1 of 3 Form 4's filed to report the reporting person's transactions on July 18, 2007. Refer to all of the Form 4's filed this date for the reporting person.
(2) Employee stock options are granted without payment of consideration.
(3) In the aggregate, a total of 4,302,965 employee stock options (with various exercise prices and expiration dates) were beneficially owned by the reporting person as of the date of this report.
(4) These are reload stock options granted in connection with the reporting person's exercise of outstanding options and payment of the option exercise costs by delivering to the Company (or selling) shares, as applicable, as reported herein.
 
Remarks:
THIS FORM 4 IS 1 OF 3 FORM 4'S FILED TO REPORT THE REPORTING PERSON'S TRANSACTIONS ON JULY 18, 2007.  REFER TO ALL OF THE FORM 4'S FILED THIS DATE FOR THE REPORTING PERSON.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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