SEC Form 4 · accession 0001209191-19-008204
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
Feb 5, 2019
Accepted (ET)
Feb 7, 2019 · 6:09 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 | Feb 5, 2019 | A | 168,000 | $0.00 | A | 2,067,279 | D | |
| Common Stock | Feb 5, 2019 | A | 64,000 | $0.00 | A | 2,131,279 | D | |
| Common Stock | Feb 5, 2019 | A | 552,000 | $0.00 | A | 2,683,279 | D | |
| Common StockF5 | Feb 5, 2019 | F | 257,716 | $11.86 | D | 2,425,563 | D | |
| Common Stock | holding | — | — | — | 600,000 | I | Through GRATs | |
| 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)F6 | $11.87 | Feb 5, 2019 | A | 395,000 | A | Feb 5, 2020 | Feb 5, 2029 | Common Stock | 395,000 | 395,000 | D |
Explanation of responses
- F1Represents a grant of time-vested Common Stock Restricted Stock Units.
- F2Shares acquired through vesting of performance-based restricted stock units granted on February 7, 2017.
- F3Shares acquired through vesting of performance share units (PSUs) granted on March 30, 2016.
- F4Shares withheld to cover the taxes due upon the vesting of 64,000 performance-based restricted stock units and 552,000 PSUs.
- F5Amount beneficially owned following the reported transactions includes 1,402,500 Common Stock Restricted Stock Units, 1,000,000 of which are vested but deferred.
- F633.3% exercisable on the date indicated and on each of the next two anniversaries thereof.
Remarks
In addition to the awards reported herein, on February 5, 2019, the Reporting Person also received a grant of 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, 2021. Since the date of Mr. Adkerson's last Form 4 reporting holdings in Table 1, an additional 250,000 shares of the Issuer's Common Stock previously reported as directly held have been contributed to a GRAT and are now reported as indirectly held.