SEC Form 4 · accession 0001209191-18-008488
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
Sep 5, 2017
Accepted (ET)
Feb 8, 2018 · 5:19 pm EST
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 Stock | Sep 5, 2017 | G | 89,219 | $0.00 | D | 350,000 | I | Through GRATs |
| Common StockF2,F1 | Feb 6, 2018 | A | 106,500 | $0.00 | A | 2,149,279 | D | |
| Common Stock | holding | — | — | — | 20,330 | I | By IRA |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Options (Right to Buy)F4 | $18.74 | Feb 6, 2018 | A | 255,000 | A | Feb 6, 2019 | Feb 6, 2028 | Common Stock | 255,000 | 255,000 | D |
Explanation of responses
- F1Upon expiration of a GRAT established by the Reporting Person, 89,219 shares were transferred to the remaindermen of the trust. The remaining 189,801 shares were previously distributed to the Reporting Person and are now reported as directly owned in a transaction exempt under Rule 16a-13.
- F2Amount beneficially owned following the reported transactions includes 1,234,500 Common Stock Restricted Stock Units, 1,000,000 of which are vested but deferred.
- F3Represents a grant of time-vested Common Stock Restricted Stock Units.
- F433.3% exercisable on the date indicated and on each of the next two anniversaries thereof.
Remarks
In addition to the awards reported herein, on February 6, 2018, the Reporting Person also received a grant of performance share units (PSUs), which will be reflected on a Form 4 if and when such units vest. Vesting of the PSUs will be determined by the Issuer's average return on investment and relative TSR over the three-year performance period ending December 31, 2020.