Form 4: FCX Chairman Adkerson Reports Share Transfer from GRAT
Insider Transaction Report
Freeport-McMoRan Chairman Richard C. Adkerson reported the transfer of 28,773 common shares from a Grantor Retained Annuity Trust upon its expiration.
Summary
- Richard C. Adkerson, Chairman of the Board and a Director of Freeport-McMoRan Inc. (FCX), reported a change in beneficial ownership.
- On November 29, 2025, 28,773 shares of Common Stock were disposed of (transaction code 'G') at a price of $0.
- This transfer was in accordance with the terms of a Grantor Retained Annuity Trust (GRAT) established on November 29, 2023, with the shares transferred to the remaindermen of the trust upon its expiration.
- Following the reported transaction, Mr. Adkerson directly beneficially owns 3,576,690 shares of Common Stock, which includes 1,132,833 Restricted Stock Units (RSUs), of which 1,000,000 are vested but deferred.
- Indirect beneficial ownership includes 1,643,102 shares through GRATs and 192,330 shares by an IRA.
Sentiment
Score: 5
Explanation: The filing reports a routine, pre-planned insider transaction related to a trust expiration, which is neutral in sentiment.
Future Outlook
This filing does not contain forward-looking statements or guidance.
Management Comments
- 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.
Industry Context
This is a routine insider transaction filing and does not provide information related to broader industry trends or competitors.
Related Party Transactions
- Transfer of 28,773 common shares to the remaindermen of a Grantor Retained Annuity Trust (GRAT) upon its expiration, as per the terms established on November 29, 2023.
Stakeholder Impact
- Shareholders: Minimal direct impact as this is a pre-planned, non-market transaction related to estate planning, not a discretionary sale.
Key Dates
| Date | Description |
|---|---|
| 11/29/2023 | Date a Grantor Retained Annuity Trust (GRAT) was established. |
| 11/29/2025 | Date of transaction; expiration of the GRAT and transfer of 28,773 shares to remaindermen. |
| 12/02/2025 | Date the Form 4 was signed and filed. |
Keywords
FCX, Freeport-McMoRan, Richard C. Adkerson, Form 4, Insider Transaction, Beneficial Ownership, GRAT, Common Stock
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