Form 4: Freeport-McMoRan Chairman Richard Adkerson Reports Share Transfer Upon GRAT Expiration

Richard Adkerson, Chairman of the Board at Freeport-McMoRan, reports a transfer of 44,775 shares due to the expiration of a Grantor Retained Annuity Trust (GRAT).

Summary

• Richard C. Adkerson, Chairman of the Board of Freeport-McMoRan, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• On May 12, 2025, 44,775 shares of common stock were transferred from a GRAT to the remaindermen upon the trust's expiration.
• Adkerson's total beneficial ownership includes 1,413,167 shares held indirectly through GRATs, 192,330 shares held indirectly through an IRA, and 3,861,054 shares held directly.
• The direct holdings include 1,132,833 Restricted Stock Units (RSUs), with 1,000,000 of those RSUs being vested but deferred.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing related to a pre-planned transaction, so it has a neutral sentiment.

Industry Context

Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and directors. This filing indicates a planned transfer of shares related to a pre-existing estate planning arrangement.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it represents a transfer of shares related to estate planning.

Key Dates

Keywords

Freeport-McMoRan, FCX, Richard Adkerson, Form 4, Beneficial Ownership, GRAT, RSU, Shares, Transfer