Richard C. Adkerson has been the CEO of Freeport-McMoRan since 2003. He's known for a performance-based approach to compensation, meaning his earnings are closely tied to the company's success. In 2023, he made over $24 million, which included a strong...

Richard C. Adkerson has been the CEO of Freeport-McMoRan since 2003. He's known for a performance-based approach to compensation, meaning his earnings are closely tied to the company's success. In 2023, he made over $24 million, which included a strong salary and a big chunk of vested stock, showing he believes in Freeport-McMoRan's future. Instead of taking cash bonuses in years when the company didn't hit its targets, he opted out, which aligns his interests with the shareholders'. Adkerson owns more than three million shares of Freeport's stock, making him highly invested in the company's long-term growth. His journey in the mining sector is solid: starting from financial roles to taking the helm as CEO, he's guided the company through many ups and downs. He has advanced degrees in accounting and brings a sharp analytical mind to his leadership. His background as a partner at Arthur Andersen adds to his experience, making him a key player in the mining industry.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

F

Richard C. Adkerson

CEO of Freeport-McMoRan Inc.

Education

Not specified

Field of Expertise

Business & Management

Sector of Economy

Basic Materials

Born

January 1, 1957 - 68 years ago

CEO of Freeport-McMoRan Inc. for

22 years 5 months (Jan 2003 - Present)

Previous Experience

Served as President of FCX from 1997 to March 2007 and as Chief Financial Officer from October 2000 to December 2003.

Rivals

Competitors/colleagues of Richard C. Adkerson

N

Leon J. Topalian

CEO of Nucor

2023 Compensation

Stock

$0.00

Salary

$1.50M

Bonus

$0.00

Other

$1.99M

Total Holdings

$25.35M

L

Sanjiv Lamba

CEO of Linde

2023 Compensation

Stock

$6.01M

Salary

$1.38M

Bonus

$3.48M

Other

$185.57K

Total Holdings

$43.81M

S

Oscar Gonzalez Rocha

CEO of Southern Copper

2023 Compensation

Stock

$0.00

Salary

$436.86K

Bonus

$98.87K

Other

$635.39K

Total Holdings

$13.37M

A

William F. Oplinger

CEO of Alcoa

2023 Compensation

Stock

$7.53M

Salary

$862.26K

Bonus

$0.00

Other

$321.43K

Total Holdings

$6.04M

Holdings

See how much did Richard C. Adkerson make over time.

Richard C. Adkerson holds over 3 million shares of Freeport-McMoRan stock. His wealth has fluctuated significantly with the company's performance. During his early years as CEO, he focused on driving the stock price higher, aligning his interests with those of...

Richard C. Adkerson holds over 3 million shares of Freeport-McMoRan stock. His wealth has fluctuated significantly with the company's performance. During his early years as CEO, he focused on driving the stock price higher, aligning his interests with those of shareholders. His largest wealth spike occurred in 2010, where his stock and vested options totalled around $40 million. From 2015 to 2022, fluctuations were notable, as he decided not to take bonuses in tougher years, reflecting his commitment to the company’s performance over personal gain. In recent years, despite ups and downs in stock prices, his holdings remain substantial, showcasing his long-term belief in Freeport's growth.

Total Stock Sold

$72.44M

FCX

$72.44M

1,727,258 FCX shares

What if they kept their stock?

If Richard C. Adkerson didn't sell their stock, today they would have:
Extra FCX1,727,258 shares worth $17.62M.
This is -75.68% and $54.82M less than what they got when they sold the stock.

Charitable Transactions

FCX

890,601 shares

FCX

Recent Charitable Transactions

FCX

36,261 shares

FCX

Aug 26, 2024

Charity

FCX

43,164 shares

FCX

May 9, 2024

Charity

FCX

22,101 shares

FCX

Dec 2, 2023

Charity

FCX

8,523 shares

FCX

Aug 23, 2023

Charity

FCX

13,110 shares

FCX

Mar 11, 2023

Charity

FCX

244,335 shares

FCX

Jan 10, 2023

Charity

Insider Trading

See recent insider trades of Richard C. Adkerson.

FCX

36,261 shares

FCX

Aug 26, 2024

Charity

FCX

43,164 shares

FCX

May 9, 2024

Charity

FCX

$2.78M

FCX at $50.78/share

May 6, 2024

Sale

FCX

$8.56M

FCX at $50.56/share

Apr 29, 2024

Sale

FCX

535,303 shares

FCX

Feb 6, 2024

Received

FCX

22,101 shares

FCX

Dec 2, 2023

Charity

FCX

8,523 shares

FCX

Aug 23, 2023

Charity

FCX

13,110 shares

FCX

Mar 11, 2023

Charity

FCX

1,152,625 shares

FCX

Feb 7, 2023

Received

FCX

244,335 shares

FCX

Jan 10, 2023

Charity

Compensation History

See how much did Richard C. Adkerson make over time.

In 2023, Richard C. Adkerson earned a total compensation of over $24 million, primarily from a base salary of $1.8 million and a cash bonus of $3.15 million, which he received due to achieving specific performance metrics. This payout was reflective of his dedication to linking executive pay with company success. A significant portion of his compensation, $12.52 million, came from vested stock awards that were tied to his performance indicators. His approach to compensation has consistently emphasized financial and operational metrics, ensuring that his pay structure reflects the company's performance and aligns with shareholder interests. For several years, he has opted not to take bonuses in less successful periods, reinforcing his focus on corporate performance rather than personal gain.

Year

2023

Total Compensation

$22.99M

Salary

$1.80M

Board Justification

The compensation program is designed to link executive pay to company performance and stockholder returns, with a significant portion of compensation being performance-based.

Bonus

$3.15M

Board Justification

Based on the achievement of performance metrics, the AIP payout was approved at 100% of target for 2023.

Other

$5.52M

Board Justification

Includes contributions to defined contribution plans, life insurance premiums, and other personal benefits.

Restricted Stock

$12.52M(12.52M RSU)

Board Justification

The aggregate grant date fair value of the RSUs and PSUs awarded during 2023, computed in accordance with Financial Accounting Standards Board Accounting Standards Codification (ASC) Topic 718.

Performance Metrics

The performance metrics for determining the compensation included financial, operational, and ESG metrics.