Freeport-McMoRan (NYSE: FCX) legal chief sells shares after option exercise
Rhea-AI Filing Summary
FREEPORT-MCMORAN INC (FCX) executive Douglas N. II Currault, EVP & General Counsel, reported exercising options and selling shares on 2026-08-25. He exercised options for 65,000 shares at an exercise price of $12.04 and 15,000 shares at $28.14, acquiring the same number of common shares. He then sold 80,000 common shares at a weighted average price of $78.5558 per share. A footnote states that his beneficial ownership amount includes 36,499 Restricted Stock Units. The Rule 10b5-1 checkbox was not marked as being pursuant to a trading plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise and Sale: 80,000 shares ($5.08M approx. pre-tax spread)
Exercise and Sale
5 txns
Insider
Currault Douglas N. II
Role
EVP & General Counsel
Sold
80,000 shs ($6.28M)
Approx. gross sale proceeds
$6.28M
Approx. exercise cost
$1.20M
Approx. pre-tax spread
$5.08M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Options (Right to Buy) F2 | 65,000 | $0.00 | $0.00 |
| Exercise | Options (Right to Buy) F3 | 15,000 | $0.00 | $0.00 |
| Exercise | Common Stock | 65,000 | $12.04 | $783K |
| Exercise | Common Stock | 15,000 | $28.14 | $422K |
| Sale | Common Stock F1, F4 | 80,000 | $78.5558 | $6.28M |
Holdings After Transaction:
Options (Right to Buy) — 0 shares (Direct);
Common Stock — 211,016 shares (Direct)
Footnotes (4)
- F1. The price reported represents the weighted average price of the shares sold. Shares were sold at varying prices in the range of $78.5500 - $78.5950. The Reporting Person here undertakes, upon request of the Staff of the U.S. Securities and Exchange Commission, the Issuer or a security holder of the Issuer, to provide full information regarding the number of shares sold at each separate price.
- F2. Options granted were 33% exercisable on the date indicated and 33% exercisable on each of the next two anniversaries thereof.
- F3. Options granted were 33% exercisable on the date indicated and 33% exercisable on each of the next two anniversaries thereof.
- F4. Amount beneficially owned includes 36,499 Common Stock Restricted Stock Units.
Key Figures
Shares sold: 80,000 shares
Sale weighted average price: $78.5558 per share
Options exercised (first grant): 65,000 shares at $12.04
+5 more
8 metrics
Shares sold
80,000 shares
Common Stock sale on 2026-08-25
Sale weighted average price
$78.5558 per share
Common Stock sale on 2026-08-25; trades between $78.55 and $78.595
Options exercised (first grant)
65,000 shares at $12.04
Exercise of Options (Right to Buy) into Common Stock on 2026-08-25
Options exercised (second grant)
15,000 shares at $28.14
Exercise of Options (Right to Buy) into Common Stock on 2026-08-25
Total options exercised
80,000 shares
Aggregate of derivative exercises reported in this filing
Restricted Stock Units included in beneficial ownership
36,499 RSUs
Common Stock Restricted Stock Units included in beneficially owned amount
Option expiration (first grant)
2030-02-04
Expiration date of options with $12.04 exercise price
Option expiration (second grant)
2031-02-02
Expiration date of options with $28.14 exercise price
Key Terms
weighted average price, Restricted Stock Units, derivative security
3 terms
weighted average price financial
"The price reported represents the <b>weighted average price</b> of the shares sold."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
Restricted Stock Units financial
"Amount beneficially owned includes 36,499 Common Stock <b>Restricted Stock Units</b>."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
derivative security financial
"Transaction code M indicates an exercise or conversion of a <b>derivative security</b>."
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
FAQ
What insider transaction did FCX executive Douglas N. II Currault report?
He reported exercising options for 80,000 shares of FREEPORT-MCMORAN INC common stock and selling 80,000 shares on 2026-08-25, combining option exercises and an open-market sale.
What option exercises did Douglas N. II Currault report for FCX?
He exercised options covering 65,000 shares at an exercise price of $12.04 per share and 15,000 shares at $28.14 per share, converting these options into the same number of common shares.
Were the reported FCX transactions under a Rule 10b5-1 trading plan?
No. The Rule 10b5-1 checkbox for the filing was not marked as being pursuant to a trading plan, and no footnote states that the transactions were executed under such a plan.
What additional FCX equity does Douglas N. II Currault beneficially own?
A footnote states that the amount beneficially owned by Douglas N. II Currault includes 36,499 Common Stock Restricted Stock Units, in addition to any common shares he holds.
What is Douglas N. II Currault’s role at FREEPORT-MCMORAN INC (FCX)?
Douglas N. II Currault is reported as an officer of FREEPORT-MCMORAN INC, serving as EVP & General Counsel in this Form 4 filing.
AI-generated analysis. How Rhea-AI works. Not financial advice.
