Howmet Aerospace Inc. — Form 10-Q

Howmet's Board approved a new Non-Employee Director Compensation Policy effective January 1, 2027, replacing prior arrangements. Key changes include: annual base retainer of $130,000; committee chair fees ranging $15,000–$45,000 (one fee per director maximum); annual equity grants of $200,000 in restricted share units; $750,000 annual compensation cap per director; and a $750,000 stock ownership guideline to be achieved within six years. The policy applies automatically to all eligible non-employee directors.