Lourenco Goncalves - Aug 20, 2021 Form 4 Insider Report for CLEVELAND-CLIFFS INC. (CLF)

Role
Chairman, President & CEO, Director
Signature
/s/ James D. Graham by Power of Attorney
Stock symbol
CLF
Transactions as of
Aug 20, 2021
Transactions value $
$3,457,500
Form type
4
Date filed
8/20/2021, 10:02 AM
Next filing
Dec 1, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CLF Common Shares Options Exercise $3.46M +250K +5.75% $13.83 4.6M Aug 20, 2021 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CLF Employee Stock Options (right-to-buy) Options Exercise $0 -250K -100% $0.00* 0 Aug 20, 2021 Common Shares 250K $13.83 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This transaction represents the exempt exercise of compensatory stock options, the expiration date of which is November 17, 2021. The Reporting Person is exercising these stock options with cash and holding all 250,000 shares to avoid forfeiture of such stock options at their upcoming expiration.
F2 The option vested in three equal annual installments beginning on December 31, 2015.