Alcoa unveiled the agreement on the deadline for dissidents to nominate director candidates to Alcoa's staggered board, according to its March 19 proxy statement. The timing of the settlement suggests Elliott, a prolific activist fund that often nominates dissident directors, was preparing a slate of nominees to put up for election to Alcoa's board at its 2016 annual meeting. Elliott has launched roughly 96 campaigns at 92 companies including 13 proxy fights since 1994, according to FactSet.