Higgins Stephen T. 4

What Happened Stephen T. Higgins, EVP & CAO of Freeport-McMoRan (FCX), received equity awards on February 9, 2026: 15,500 restricted stock units (RSUs) and 23,125 performance share units (PSUs) vested (total 38,625 shares awarded). To satisfy tax withholding on the vesting PSUs, 7,284 shares were withheld (disposed) at a reported per-share value of $60.67, totaling $441,920. These were awards/vesting events (not open-market purchases or sales).

Key Details

• Transaction date: 2026-02-09; Form 4 filed 2026-02-11.
• Awards: 15,500 RSUs (F1); 23,125 shares from PSUs that vested (F2).
• Tax withholding: 7,284 shares withheld at $60.67/share = $441,920 (F3, code F = tax withholding).
• Beneficial ownership note: filing states amount beneficially owned includes 63,167 RSUs (F4).
• Plan basis: figures based on plan statement as of Dec 31, 2025 (F5).
• Filing appears timely (transaction reported two days after the event).

Context RSUs and vested PSUs are common forms of executive compensation; withholding shares to cover tax liability is routine and not a directional bet on the stock. The filing also notes an additional PSU grant made on Feb 9, 2026 that will only appear on a future Form 4 if and when those PSUs vest; vesting for those PSUs depends on Freeport-McMoRan’s average return on investment and relative TSR over a three-year performance period ending Dec 31, 2028.