Common Stock

6 Months Ended

Jun. 30, 2019

On February 19, 2019, the Company entered into an accelerated share repurchase (ASR) agreement with JPMorgan Chase Bank to repurchase $700 of its common stock (the “February 2019 ASR”), pursuant to the share repurchase programs previously authorized by its Board of Directors (the Board). Under the February 2019 ASR, Arconic received an initial delivery of shares on February 21, 2019 and additional shares on April 29, 2019. On May 2, 2019, the Company entered into an ASR agreement with JPMorgan Chase Bank to repurchase $200 of its common stock (the “May 2019 ASR”), pursuant to the share repurchase programs previously authorized by its Board. Under the May 2019 ASR, Arconic received an initial delivery of shares on May 6, 2019 and additional shares on June 12, 2019. All of the shares repurchased during 2019 were immediately retired. After giving effect to the February 2019 ASR and May 2019 ASR, $100 remains available under the prior authorizations by the Board for share repurchases through the end of 2020 (the “Prior Remaining Authorization”).

The following table provides details for the share repurchases during 2019.



Share delivery date	Number of shares	Average price	Total
February 21, 2019	31,908,831
April 29, 2019	4,525,592
February 2019 ASR total	36,434,423	$19.21	$700

May 6, 2019	7,455,732
June 12, 2019	1,561,249
May 2019 ASR total	9,016,981	$22.18	$200

2019 ASR total	45,451,404	$19.80	$900

On May 14, 2019, the Board authorized an additional share repurchase program of up to $500 of its outstanding common stock (the “May 2019 Share Repurchase Program”). The Company has a total of $600 repurchase authorization remaining pursuant to the May 2019 Share Repurchase Program and the Prior Remaining Authorization.