SEC Form 4 · accession 0001209191-17-047153
FREEPORT-MCMORAN INC · FCX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard C Adkerson
Officer — Vice Chairman, President & CEO · Director
Period of report
Jul 31, 2017
Accepted (ET)
Aug 2, 2017 · 5:17 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000831259
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF2,F3 | Jul 31, 2017 | J | 227,931 | $14.72 | A | 1,852,978 | D | |
| Common Stock | holding | — | — | — | 20,330 | I | By IRA | |
| Common StockF2 | holding | — | — | — | 629,020 | I | Through GRATs |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents the substitution of shares previously included in a Grantor Retained Annuity Trust ("GRAT") established by the Reporting Person for estate planning purposes, under which he is the sole trustee and sole annuitant. As such, the Reporting Person's total beneficial ownership in FCX has not changed, as he was the beneficial owner of these shares both before and after the transfer, and the amount reported as beneficially owned through his GRATs has been reduced accordingly.
- F2Amounts reported as beneficially owned reflect 350,000 shares transferred from the Reporting Person's direct ownership to a GRAT in a transaction exempt under Rule 16a-13.
- F3Amount beneficially owned following the reported transactions includes 1,128,000 Common Stock Restricted Stock Units, 1,000,000 of which are vested but deferred.