Freeport-McMoRan (FCX) chair gifts 27,693 shares as GRAT expires, retains 3.3M

Rhea-AI Filing Summary

FREEPORT-MCMORAN INC Chairman Richard C. Adkerson reported a bona fide gift of 27,693 shares of Common Stock on March 7, 2026. The shares were transferred from a grantor retained annuity trust (GRAT) to the trust’s remaindermen upon the GRAT’s expiration, so this was a planned estate-planning transfer rather than a market sale.

After the transactions reported, he holds 3,308,094 shares directly and 1,638,005 shares indirectly through GRATs, plus 192,330 shares indirectly via an IRA. Footnote disclosure also notes beneficial ownership of 1,091,500 RSUs, including 1,000,000 that are vested but deferred.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

ADKERSON RICHARD C

(Last) (First) (Middle)

4340 E. COTTON CENTER BLVD.

SUITE 110

(Street)

PHOENIX AZ 85040

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
FREEPORT-MCMORAN INC [ FCX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chairman of the Board

3. Date of Earliest Transaction (Month/Day/Year)
03/07/2026

4. If Amendment, Date of 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

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	03/07/2026		G		27,693(1)	D	$0	1,638,005	I	Through GRATs
Common Stock								192,330	I	By IRA
Common Stock								3,308,094(2)	D

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 Securities Underlying Derivative Security (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: 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

Explanation of Responses:

1. In accordance with the terms of a GRAT established on March 7, 2024, 27,693 shares were transferred to the remaindermen of the trust upon the expiration of the GRAT on March 7, 2026.

2. Amount beneficially owned includes 1,091,500 RSUs, 1,000,000 of which are vested but deferred.

Remarks:

The Reporting Person's direct and indirect holdings have been updated to reflect the establishment of a new GRAT and the return of shares in connection with scheduled annuity payments under previously established GRATs that have occurred since his last Form 4.

	Kelly C. Simoneaux, on behalf of Richard C. Adkerson, pursuant to a power of attorney	03/10/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
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FAQ

What did FCX Chairman Richard C. Adkerson report in this Form 4?

Richard C. Adkerson reported a bona fide gift of 27,693 Freeport-McMoRan common shares. The transfer occurred when a grantor retained annuity trust (GRAT) he established in March 2024 expired on March 7, 2026, moving shares to the trust’s remaindermen.

Was the 27,693-share FCX transaction a sale in the open market?

No, the 27,693-share transaction was reported as a bona fide gift, not an open-market sale. The shares moved from a GRAT to its remaindermen automatically at the GRAT’s March 7, 2026 expiration, with no price involved in the transfer.

How many FCX shares does Richard C. Adkerson hold after this gift?

After the reported gift, he holds 3,308,094 Freeport-McMoRan shares directly. He also holds 1,638,005 shares indirectly through GRATs and 192,330 shares indirectly via an IRA, giving him substantial ongoing equity exposure alongside his executive role.

What does the GRAT footnote in the FCX Form 4 explain?

The footnote explains that a GRAT formed on March 7, 2024 transferred 27,693 shares to its remaindermen when it expired on March 7, 2026. This clarifies the movement as a scheduled trust event, rather than a discretionary trade in Freeport-McMoRan stock.

What RSU holdings for FCX does Richard C. Adkerson report?

He reports beneficial ownership including 1,091,500 restricted stock units (RSUs) in Freeport-McMoRan. Of these, 1,000,000 RSUs are vested but deferred, meaning they have vested based on plan terms but delivery of underlying shares is postponed to a future date.

How should investors interpret this FCX insider Form 4 activity?

The filing reflects a planned GRAT expiration and resulting gift of 27,693 shares, not a market sale. Adkerson continues to hold several million FCX shares directly and indirectly, along with over one million RSUs, so his overall equity exposure remains significant.