Freeport-McMoRan Inc. reported an insider ownership change by John Joseph Stephens involving the company’s common stock on July 1, 2026. The Form 4 indicates that Stephens acquired shares as part of a prior election to receive Freeport-McMoRan common stock instead of cash for some or all of his annual retainer fee. The filing describes the transaction as compensation-related rather than an open-market purchase. Specifically, the shares were issued pursuant to Stephens’ election to take equity in lieu of cash retainer payments, a common arrangement for directors or other reporting insiders that aligns compensation with shareholder value. The document does not state the number of shares acquired, the transaction price, or a specific transaction code in the provided text. Following the reported transaction, Stephens’ beneficial ownership includes 15,800 common stock restricted stock units, according to the explanatory footnote. The filing does not provide a full post-transaction common share ownership total beyond noting the inclusion of those restricted stock units. The report was signed by Kelly C. Simoneaux on behalf of John J. Stephens under a power of attorney. Overall, the filing reports an equity-compensation acquisition of Freeport-McMoRan common stock tied to Stephens’ annual retainer, rather than a discretionary market trade.