[Form 4] FREEPORT-MCMORAN INC Insider Trading Activity

Rhea-AI Filing Summary

Hugh Grant, a director of Freeport-McMoRan Inc. (FCX), reported an acquisition of 860 shares of common stock on 10/01/2025 at a reported price of $39.22 per share. The filing states these shares were received in lieu of cash for part of his annual retainer. After the transaction, Mr. Grant beneficially owns 45,276 shares, which the filing clarifies includes 17,900 restricted stock units. The Form 4 was signed on 10/02/2025 by a named attorney on his behalf.

Insights

Corporate Governance Analyst

Director increased stake via compensation election, raising beneficial ownership to 45,276 shares.

The filing shows the 860 shares were acquired on 10/01/2025 pursuant to an election to receive stock instead of cash for a retainer, a common director compensation mechanism. Including 17,900 restricted stock units in the total provides clarity on the composition of his ownership.

This transaction is routine for governance disclosure and indicates alignment of the director's compensation with company equity without revealing open‑market trading activity.

Insider Transaction Specialist

Transaction recorded at a price of $39.22 per share and reported on Form 4 the next day.

The Form 4 lists a purchase code indicating acquisition (A(1)) and shows the reporting process completed with a signature dated 10/02/2025. The filing identifies the mechanism (stock in lieu of cash) rather than a market purchase, which is important for interpreting insider intent.

No derivative positions or dispositions are reported in this filing; ownership change is limited to the disclosed 860 shares.

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).

1. Name and Address of Reporting Person^*

GRANT HUGH

(Last) (First) (Middle)

333 N. CENTRAL AVENUE

(Street)

PHOENIX AZ 85004

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

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	10/01/2025		A(1)		860	A	$39.22	45,276(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. Represents shares acquired pursuant to the Reporting Person's previous election to receive shares of common stock in lieu of cash for some or all of his annual retainer fee.

2. Amount beneficially owned following the reported transaction includes 17,900 Common Stock Restricted Stock Units.

Remarks:

	Kelly C. Simoneaux, on behalf of Hugh Grant pursuant to a power of attorney	10/02/2025
	** 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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