SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

DUNHAM ARCHIE W

(Last)

(First)

(Middle)

C/O PHELPS DODGE CORPORATION

ONE NORTH CENTRAL AVENUE

(Street)

PHOENIX

85004

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
PHELPS DODGE CORP [ PD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/23/2002

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Deferred Share Units⁽¹⁾	⁽²⁾	08/23/2002⁽³⁾		A⁽¹⁾		812.85		⁽⁴⁾	⁽⁴⁾	Common Shares	812.85	⁽³⁾	4,271.96	D
Deferred Share Units⁽¹⁾	⁽²⁾	09/03/2002		A⁽¹⁾		64.79		⁽⁴⁾	⁽⁴⁾	Common Shares	64.79	$30.87	4,336.75	D
Deferred Share Units⁽¹⁾	⁽²⁾	09/04/2002		A⁽¹⁾		406.99		⁽⁴⁾	⁽⁴⁾	Common Shares	406.99	$29.485	4,743.74	D
Deferred Share Units⁽¹⁾	⁽²⁾	10/29/2002		A⁽¹⁾		32.76		⁽⁴⁾	⁽⁴⁾	Common Shares	32.76	$30.525	4,776.5	D
Deferred Share Units⁽¹⁾	⁽²⁾	11/11/2002		A⁽¹⁾		31.46		⁽⁴⁾	⁽⁴⁾	Common Shares	31.46	$31.79	4,807.96	D
Deferred Share Units⁽¹⁾	⁽²⁾	12/03/2002		A⁽¹⁾		63.5		⁽⁴⁾	⁽⁴⁾	Common Shares	63.5	$31.495	4,871.46	D
Deferred Share Units⁽¹⁾	⁽²⁾	12/04/2002		A⁽¹⁾		357.02		⁽⁴⁾	⁽⁴⁾	Common Shares	357.02	$30.81	5,228.48	D
Deferred Share Units⁽¹⁾	⁽²⁾	01/27/2003		A⁽¹⁾		29.56		⁽⁴⁾	⁽⁴⁾	Common Shares	29.56	$33.835	5,258.04	D
Deferred Share Units⁽¹⁾	⁽²⁾	02/03/2003		A⁽¹⁾		28.65		⁽⁴⁾	⁽⁴⁾	Common Shares	28.65	$34.91	5,286.69	D
Deferred Share Units⁽¹⁾	⁽²⁾	02/04/2003		A⁽¹⁾		28.36		⁽⁴⁾	⁽⁴⁾	Common Shares	28.36	$35.265	5,315.05	D
Deferred Share Units⁽¹⁾	⁽²⁾	02/05/2003		A⁽¹⁾		28.27		⁽⁴⁾	⁽⁴⁾	Common Shares	28.27	$35.375	5,343.32	D
Deferred Share Units⁽¹⁾	⁽²⁾	02/25/2003		A⁽¹⁾		28.46		⁽⁴⁾	⁽⁴⁾	Common Shares	28.46	$35.14	5,371.78	D
Deferred Share Units⁽¹⁾	⁽²⁾	03/05/2003		A⁽¹⁾		365.98		⁽⁴⁾	⁽⁴⁾	Common Shares	365.98	$34.155	5,737.76	D
Deferred Share Units⁽¹⁾	⁽²⁾	04/04/2003		A⁽¹⁾		30.77		⁽⁴⁾	⁽⁴⁾	Common Shares	30.77	$32.5	5,768.53	D
Deferred Share Units⁽¹⁾	⁽²⁾	04/08/2003		A⁽¹⁾		30.5		⁽⁴⁾	⁽⁴⁾	Common Shares	30.5	$32.79	5,799.03	D
Deferred Share Units⁽¹⁾	⁽²⁾	04/11/2003		A⁽¹⁾		30.46		⁽⁴⁾	⁽⁴⁾	Common Shares	30.46	$32.83	5,829.49	D
Deferred Share Units⁽¹⁾	⁽²⁾	04/25/2003		A⁽¹⁾		31.5		⁽⁴⁾	⁽⁴⁾	Common Shares	31.5	$31.745	5,860.99	D
Deferred Share Units⁽¹⁾	⁽²⁾	04/27/2003		A⁽¹⁾		31.5		⁽⁴⁾	⁽⁴⁾	Common Shares	31.5	$31.745	5,892.49	D
Deferred Share Units⁽¹⁾	⁽²⁾	05/28/2003		A⁽¹⁾		28.02		⁽⁴⁾	⁽⁴⁾	Common Shares	28.02	$35.69	5,920.51	D
Deferred Share Units⁽¹⁾	⁽²⁾	06/04/2003		A⁽¹⁾		361.3		⁽⁴⁾	⁽⁴⁾	Common Shares	361.3	$37.365	6,281.81	D
Deferred Share Units⁽¹⁾	⁽²⁾	07/17/2003		A⁽¹⁾		25.96		⁽⁴⁾	⁽⁴⁾	Common Shares	25.96	$38.515	6,307.77	D
Deferred Share Units⁽¹⁾	⁽²⁾	09/02/2003		A⁽¹⁾		41.81		⁽⁴⁾	⁽⁴⁾	Common Shares	41.81	$47.835	6,349.58	D
Deferred Share Units⁽¹⁾	⁽²⁾	09/03/2003		A⁽¹⁾		256.41		⁽⁴⁾	⁽⁴⁾	Common Shares	256.41	$48.75	6,605.99	D
Deferred Share Units⁽¹⁾	⁽²⁾	10/01/2003		A⁽¹⁾		41.85		⁽⁴⁾	⁽⁴⁾	Common Shares	41.85	$47.785	6,647.84	D
Deferred Share Units⁽¹⁾	⁽²⁾	10/20/2003		A⁽¹⁾		17.62		⁽⁴⁾	⁽⁴⁾	Common Shares	17.62	$56.755	6,665.46	D
Deferred Share Units⁽¹⁾	⁽²⁾	11/17/2003		A⁽¹⁾		16.61		⁽⁴⁾	⁽⁴⁾	Common Shares	16.61	$60.195	6,682.07	D
Deferred Share Units⁽¹⁾	⁽²⁾	12/02/2003		A⁽¹⁾		15.28		⁽⁴⁾	⁽⁴⁾	Common Shares	15.28	$65.45	6,697.35	D
Deferred Share Units⁽¹⁾	⁽²⁾	12/03/2003		A⁽¹⁾		191.97		⁽⁴⁾	⁽⁴⁾	Common Shares	191.97	$65.115	6,889.32	D
Deferred Share Units⁽¹⁾	⁽²⁾	02/03/2004		A⁽¹⁾		26.81		⁽⁴⁾	⁽⁴⁾	Common Shares	26.81	$74.61	6,916.13	D
Deferred Share Units⁽¹⁾	⁽²⁾	02/04/2004		A⁽¹⁾		27.51		⁽⁴⁾	⁽⁴⁾	Common Shares	27.51	$72.71	6,943.64	D

Explanation of Responses:

1. Acquisition of deferred share units through the Deferred Compensation Plan for the Directors of Phelps Dodge Corporation, exempt pursuant to Rule 16b-3(d). Share numbers and prices do not reflect two-for-one stock split effected on March 13, 2006.

2. Each deferred share unit represents the right to receive one Phelps Dodge Corporation common share or the cash value thereof.

3. Deferred share units were acquired on various dates beginning 1/28/2002 through 8/12/2002, based on pre-March 13, 2006 two-for-one split market values of Phelps Dodge Corporation common shares ranging from $31.865 to $40.605 per share.

4. Deferred share units are exercisable by the reporting person at any time.

Remarks:

For each transaction reported herein, the responses to Items 5 and 9, "Number of Derivative Securities", Item 7, "Title and Amount of Underlying Securities" and Item 8, "Price of Derivative Security," have not been adjusted to reflect the two-for-one stock split effected on March 13, 2006.

	/s/ S. David Colton, Attorney-in-fact for Archie W. Dunham	04/13/2006
	** Signature of Reporting Person	Date
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