Lourenco Goncalves - Jan 4, 2023 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
Jan 4, 2023
Transactions value $
-$6,932,185
Form type
4
Date filed
1/6/2023, 04:10 PM
Previous filing
Feb 28, 2022
Next filing
Feb 23, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CLF Common Shares Award $0 +564K +28.55% $0.00 2.54M Jan 4, 2023 Direct F1
transaction CLF Common Shares Tax liability -$6.93M -403K -15.88% $17.20 2.14M Jan 4, 2023 Direct F2
holding CLF Common Shares 3M Jan 4, 2023 By grantor retained annuity trust F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects a payout of performance shares for the 2020-2022 performance period earned under the Issuer's 2015 Equity and Incentive Compensation Plan, as amended.
F2 Reflects the mandatory surrender of 255,713 shares underlying performance shares and 147,321 shares underlying restricted share units in payment of the related tax liability incurred on January 4, 2023.
F3 Reflects the Reporting Person's contribution of Issuer common shares to a grantor retained annuity trust since the date of the Reporting Person's last Section 16 report. These shares were previously reflected on the Reporting Person's Section 16 reports as being directly held.