[Form 4] FREEPORT-MCMORAN INC Insider Trading Activity

Rhea-AI Filing Summary

John J. Stephens, a director of Freeport-McMoRan Inc. (FCX), reported acquiring 525 shares of common stock on 10/01/2025 at a price of $39.22 each under an election to receive stock instead of cash for his annual retainer. After the transaction, Mr. Stephens beneficially owned 67,621 shares in total, which includes 17,900 restricted stock units, and he also has an indirect interest in 45,000 shares held by a limited partnership. The Form 4 was filed by power of attorney on 10/02/2025.

Positive

• Director elected to receive equity in lieu of cash, adding 525 shares
• Total beneficial ownership disclosed of 67,621 shares including 17,900 RSUs
• Indirect LP interest disclosed of 45,000 shares, increasing transparency

Negative

• None.

Insights

Corporate Governance Analyst

Director converted compensation to equity, modestly increasing insider ownership.

The report shows 525 shares were acquired on 10/01/2025 at $39.22 per share via an election to take stock in lieu of cash. This is a routine, non-market-driven purchase tied to compensation rather than an open-market trade.

The filing discloses total beneficial ownership of 67,621 shares including 17,900 RSUs and an indirect LP interest of 45,000 shares, indicating both direct and indirect alignment with shareholder outcomes.

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

OMB APPROVAL

OMB Number:			3235-0287
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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^*

STEPHENS JOHN JOSEPH

(Last) (First) (Middle)

333 NORTH 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)		525	A	$39.22	67,621(2)	D
Common Stock								45,000	I	By LP

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 John J. Stephens 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did FCX director John J. Stephens report on Form 4?

He reported acquiring 525 shares of FCX common stock on 10/01/2025 at $39.22 per share.

How many FCX shares does John J. Stephens beneficially own after the transaction?

The Form 4 shows he beneficially owns 67,621 shares following the reported transaction.

Does the Form 4 disclose restricted stock or indirect holdings for John J. Stephens (FCX)?

Yes. The report includes 17,900 Restricted Stock Units and an indirect LP-held interest of 45,000 shares.

What was the reason for the share acquisition by John J. Stephens (FCX)?

The shares were acquired pursuant to his election to receive common stock instead of cash for his annual retainer fee.

When was the Form 4 for John J. Stephens (FCX) filed?

The Form 4 was signed by power of attorney and filed on 10/02/2025.