ADKERSON RICHARD C 4

What Happened

• Richard C. Adkerson, Chairman of the Board and a director of Freeport-McMoRan (FCX), recorded a gift/transfer of 27,693 shares on March 7, 2026. The shares were reported at $0.00 per share (total reported value $0) because they were transferred to remaindermen upon the expiration of a grantor retained annuity trust (GRAT).

Key Details

• Transaction date: 2026-03-07; Filing date: 2026-03-10.
• Transaction type/code: Gift/transfer (G); Price per share reported: $0.00; Total reported value: $0.
• Beneficial ownership notes: Form 4 footnote reports Adkerson’s beneficial ownership includes 1,091,500 RSUs, of which 1,000,000 are vested but deferred.
• Filing/remarks: The Form states his direct and indirect holdings were updated to reflect establishment of a new GRAT and return of shares from scheduled annuity payments under previously established GRATs since his last Form 4.

Context

• This was an estate-planning transfer via a GRAT expiration, not a cash sale — such gifts/transfers generally do not signal insider trading sentiment. A GRAT is commonly used to pass assets to beneficiaries; surrendered shares moving to remaindermen are routine for that structure.