Freeport‑McMoRan (FCX) EVP Douglas Currault Exercises Options, Sells 80k

What Happened

• Douglas N. Currault II, EVP & General Counsel of Freeport‑McMoRan (FCX), exercised stock options to acquire 80,000 shares and sold 80,000 shares in an open‑market transaction on August 25, 2026.
• Exercise details: 65,000 shares at $12.04 (cost $782,600) and 15,000 shares at $28.14 (cost $422,100), total exercise cost $1,204,700. The sale was 80,000 shares at a weighted average price of $78.56, generating gross proceeds of $6,284,464. Rough gross difference (proceeds minus exercise cost) ≈ $5,079,764 before taxes and fees.
• The filing also lists $0.00 derivative "dispositions" for the 65,000 and 15,000 option lots — these entries reflect the conversion/exercise of the derivative instruments.

Key Details

• Transaction date: 2026-08-25; Form 4 filed 2026-08-26 (no late filing indicated).
• Exercise breakdown: 65,000 @ $12.04 = $782,600; 15,000 @ $28.14 = $422,100 (total $1,204,700).
• Sale: 80,000 shares sold at weighted avg $78.56; reported price range $78.5500–$78.5950 (footnote indicates varying per‑share prices).
• Derivative entries: two $0.00 dispositions correspond to the options converted upon exercise.
• Vesting notes: options were 33% exercisable on the exercise date and 33% on each of the next two anniversaries (footnotes).
• Beneficial ownership: filing notes inclusion of 36,499 restricted stock units (RSUs); the filing excerpt provided does not state the total post‑transaction common shares beneficially owned.

Context

• This is effectively a cashless exercise followed by an immediate open‑market sale: exercising options to get shares, then selling those shares—common for covering exercise costs, taxes, or rebalancing.
• Sales by executives are routine and do not necessarily indicate negative company outlook. This transaction was by an executive officer (not a 10% owner).