Freeport-McMoRan (NYSE: FCX) chair logs major stock grants and sales
Rhea-AI Filing Summary
Freeport-McMoRan’s Chairman Richard C. Adkerson reported multiple equity transactions in the company’s common stock. On February 9, 2026, he acquired 27,500 shares through a grant of restricted stock units and 248,125 shares from vesting performance share units, with some shares (95,165) withheld to cover taxes.
Subsequently, he disposed of shares, including a private transfer of 248,031 shares to a family trust and open-market sales of 132,824 and 20,136 shares at weighted average prices of about $62.80–$65.21 per share. After these transactions, he held 3,356,159 shares directly as of February 11, 2026, plus additional indirect holdings through an IRA and GRATs.
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Insights
FCX’s chair reported sizeable equity awards and subsequent stock disposals, including a family trust transfer and open-market sales.
Richard C. Adkerson, Chairman of Freeport-McMoRan, received equity compensation on February 9, 2026, including 27,500 restricted stock units and 248,125 shares from vested performance share units. A portion of these vested shares (95,165) was withheld at $60.67 per share to satisfy tax obligations.
Following these awards, he disposed of shares through a private transfer of 248,031 shares to a family trust, for which he disclaims beneficial ownership, and through open-market sales of 132,824 shares at a weighted average price of $64.568 and 20,136 shares at $65.2087. After these moves, he reported 3,356,159 directly owned shares, which include 1,160,333 RSUs, as well as indirect holdings via an IRA and GRATs.
The filing also notes an additional grant of performance share units on February 9, 2026, whose vesting will depend on average return on investment and relative total shareholder return over the performance period ending December 31, 2028. Subsequent company disclosures may detail how these performance conditions translate into future share delivery.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 132,824 | $64.568 | $8.58M |
| Sale | Common Stock | 20,136 | $65.2087 | $1.31M |
| Sale | Common Stock | 248,031 | $62.795 | $15.58M |
| Grant/Award | Common Stock | 27,500 | $0.00 | -- |
| Grant/Award | Common Stock | 248,125 | $0.00 | -- |
| Tax Withholding | Common Stock | 95,165 | $60.67 | $5.77M |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Represents a grant of Common Stock Restricted Stock Units ("RSUs"). Shares acquired through the vesting of performance share units ("PSUs") granted on February 7, 2023. Shares withheld to cover the taxes due upon the vesting of PSUs. Represents a private transaction pursuant to which the Reporting Person transferred shares of the Issuer's common stock and other assets to a family trust in exchange for other property. The Reporting Person is not a trustee or beneficiary of the family trust, and he disclaims any ownership interest in the shares held by the trust. For purposes of the exchange, the shares were valued based on the high and low average of the market price on the day of the transaction. The price reported represents the weighted average price of the shares sold. Shares were sold at varying prices in the range of $64.1700 - $65.1300. The Reporting Person hereby 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. The price reported represents the weighted average price of the shares sold. Shares were sold at varying prices in the range of $65.1800 - $65.3300. The Reporting Person hereby 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. Amount beneficially owned includes 1,160,333 RSUs, 1,000,000 of which are vested but deferred.
