Robert S. Wetherbee - Jan 4, 2022 Form 4/A - Amendment Insider Report for ALLEGHENY TECHNOLOGIES INC (ATI)

Role: Board Chair, President and CEO, Director
Signature: /s/ Elliot S. Davis, Attorney-in-Fact for Robert S. Wetherbee
Stock symbol: ATI
Transactions as of: Jan 4, 2022
Transactions value $: -$297,570
Form type: 4/A - Amendment
Date filed: 3/25/2022, 05:11 PM
Date Of Original Report: Jan 6, 2022
Next filing: Mar 25, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ATI	Common Stock, par value $0.10 per share	Tax liability	-$298K	-17.8K	-5.8%	$16.74	289K	Jan 4, 2022	Direct	F1, F2
transaction	ATI	Common Stock, par value $0.10 per share	Award	$0	+95.6K	+33.12%	$0.00	384K	Jan 4, 2022	Direct	F3, F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ATI	Performance Stock Unit	Award	$0	+128K		$0.00	128K	Jan 4, 2022	Common Stock	128K		Direct	F4, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Shares withheld for payment of taxes on restricted stock units awarded on January 4, 2021. One-third of such restricted stock units vested by their terms on January 4, 2022.
F2	Represents the average of the high and low trading prices for one share of the Issuer's common stock on the New York Stock Exchange ("NYSE") on January 4, 2022.
F3	Award of restricted stock units, which are settled in shares of stock upon vesting. The award vests in three equal annual installments on each of the first three anniversaries of the grant date.
F4	Awarded under ATI's 2020 Incentive Plan.
F5	Each Performance Stock Unit ("PSU") represents a contingent right to receive one share of the Issuer's Common Stock if the Issuer's Common Stock achieves a specified target market price (based on a 20-trading day average) on the NYSE for at least 20 consecutive trading days ("20-Day Average Market Price") prior to December 31, 2025. Each PSU may result in the right to receive additional shares of the Issuer's Common Stock, up to a maximum of three shares per PSU, to the extent that the Issuer's Common Stock achieves 20-Day Average Market Prices at specified levels in excess of the target market price prior to December 31, 2025. Vested shares, if any, generally are payable in two equal installments in early 2026 and early 2027.

Remarks:

This amended Form 4 is filed to reflect an administrative correction to the number of shares withheld for the payment of taxes with respect to the vesting of restricted stock units awarded on January 4, 2021, as reflected in the first row on Table I above.