Currault Douglas N. II 4
4 · FREEPORT-MCMORAN INC · Filed Feb 11, 2026
Research Summary
AI-generated summary of this filing
Freeport-McMoRan (FCX) EVP Douglas Currault Exercises Options and Sells Shares
What Happened Douglas N. Currault II, EVP & General Counsel of Freeport‑McMoRan (FCX), reported a mix of equity awards vesting, option exercises, tax‑withholding and an open‑market sale. On Feb 9, 2026 he received awards (14,000 RSUs and 20,625 PSUs/vested shares). Shares were withheld to cover taxes on the PSU vesting (6,253 shares, ~$379,370). On Feb 11, 2026 he exercised options totaling 75,000 shares at low strike prices (25,000 @ $11.87 for $296,750 and 50,000 @ $11.91 for $595,500) and sold 75,000 shares in the open market at a weighted average price of $64.52 for proceeds of approximately $4,838,813. The filing also shows conversion/exercise line items reported with $0.00 price (see filing for details).
Key Details
- Transaction dates: Feb 9, 2026 (awards/vesting and tax withholding); Feb 11, 2026 (option exercises and sale). Filing date: Feb 11, 2026 (timely).
- Grants/vests: 14,000 RSUs (grant) and 20,625 PSUs (vesting of prior PSU grant).
- Tax withholding: 6,253 shares withheld to cover taxes on PSU vesting (reported value $379,370).
- Option exercises: 25,000 shares at $11.87 ($296,750) and 50,000 shares at $11.91 ($595,500).
- Sale: 75,000 shares sold on Feb 11 at a weighted avg $64.52 (range $64.5100–$64.5550) for approx. $4,838,813.
- Beneficial ownership note: filing states amount beneficially owned includes 57,166 RSUs; total beneficial ownership not provided in this excerpt.
- Footnotes: PSUs granted on Feb 9, 2026 (additional grant) will be reported if/when they vest; PSU vesting tied to multi‑year ROI and relative TSR performance through 12/31/2028.
Context
- This sequence looks like awards/vesting and option exercises followed by an immediate partial sale — common when executives exercise low‑strike options and sell shares to capture gains or cover taxes/expenses. The $0.00 entries for some derivative disposals are technical reporting lines; review the full Form 4 for the precise mechanics.
- The PSU award mentioned is performance‑based and vests based on multi‑year metrics, so future shares depend on performance outcomes.
- Filing appears timely (filed two days after the Feb 9 reportable actions).
Insider Transaction Report
- Award
Common Stock
[F1]2026-02-09+14,000→ 204,809 total - Award
Common Stock
[F2]2026-02-09+20,625→ 225,434 total - Tax Payment
Common Stock
[F3]2026-02-09$60.67/sh−6,253$379,370→ 219,181 total - Exercise/Conversion
Common Stock
2026-02-11$11.87/sh+25,000$296,750→ 244,181 total - Exercise/Conversion
Common Stock
2026-02-11$11.91/sh+50,000$595,500→ 294,181 total - Sale
Common Stock
[F5][F6]2026-02-11$64.52/sh−75,000$4,838,813→ 219,181 total - Exercise/Conversion
Options (Right to Buy)
[F4]2026-02-11−25,000→ 0 totalExercise: $11.87From: 2020-02-05Exp: 2029-02-05→ Common Stock (25,000 underlying) - Exercise/Conversion
Options (Right to Buy)
[F4]2026-02-11−50,000→ 0 totalExercise: $11.91From: 2020-02-06Exp: 2029-02-06→ Common Stock (50,000 underlying)
Footnotes (6)
- [F1]Represents a grant of Common Stock Restricted Stock Units ("RSUs").
- [F2]Shares acquired through the vesting of performance share units ("PSUs") granted on February 7, 2023.
- [F3]Shares withheld to cover the taxes due upon the vesting of PSUs.
- [F4]33% exercisable on the date indicated and 33% exercisable on each of the next two anniversaries thereof.
- [F5]The price reported represents the weighted average price of the shares sold. Shares were sold at varying prices in the range of $64.5100 - $64.5550. 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.
- [F6]Amount beneficially owned includes 57,166 RSUs.