Currault Douglas N. II 4

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).