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Filing Details

Accession Number:: 0001181431-11-015793
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2011-03-04 17:30:52
Reporting Period:: 2011-03-03

Filing Date:: 2011-03-04
Accepted Time:: 2011-03-04 17:30:52
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
831259	Freeport Mcmoran Copper & Gold Inc	FCX	Metal Mining (1000)	742480931

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1200693	Jr M B Rankin	300 Crescent Court Suite 875 Dallas TX 75201		Yes	No	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2011-03-03	200,000	$0.00	385,360	No	4	J	Indirect	By Rankin Interests Ltd. Partnership
Common Stock	Acquisiton	2011-03-03	200,000	$0.00	585,360	No	4	P	Indirect	By Rankin Interests Ltd. Partnership

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	J	Indirect	By Rankin Interests Ltd. Partnership
No	4	P	Indirect	By Rankin Interests Ltd. Partnership

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Forward Sale Contract (right/obligation to sell)	Disposition	2011-03-03	1	$0.00	200,000	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0	2011-03-03	2011-03-03	No	4	J	Indirect

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	127,000	Direct

Footnotes

Amount beneficially owned includes 10,000 Common Stock Restricted Stock Units. On February 1, 2011, the Issuer effected a two-for-one stock split, thus the referenced share amounts reflect the post-split adjustments to shares previously held.
On March 3, 2011, Rankin Interests Limited Partnership (the "LP") settled a range forward sale contract that was entered into on March 3, 2010 with a securities broker. The contract obligated the LP to deliver to the broker 200,000 shares of the Issuer's Common Stock on March 3, 2011 (the "Maturity Date"), with the sale price to be determined and paid on the Maturity Date according to the below formula (share numbers and prices have been adjusted to reflect stock splits and dividends paid during the term of the contract):
(i) if the closing price of a share of Common Stock on the Maturity Date is $31.325 (the Downside Protection Price) or less, the sale price will be $31.325 per share, (ii) if the closing price of a share of Common Stock on the Maturity Date is $46.525 (the Capped Upside Participation Price) or more, the sale price will be $46.525 per share, and (iii) if the closing price of a share of Common Stock on the Maturity Date is between $31.325 and $46.525, the sale price will be the closing price on Maturity Date.
As provided in the contract, the LP elected to settle the contract for cash and retain ownership of the shares in exchange for a payment to the broker representing the difference between the Capped Upside Participation Price ($46.525) and the closing price on the Maturity Date ($52.40).