Form 4: Cleveland-Cliffs CFO Reports Future Tax-Related Share Sale

Cleveland-Cliffs' EVP and CFO, Celso L. Goncalves Jr., reported a future mandatory disposition of 18,775 common shares for tax liability related to restricted share unit payout.

Summary

• Celso L. Goncalves Jr., Executive Vice President and Chief Financial Officer of Cleveland-Cliffs Inc. (CLF), reported a transaction.
• The transaction involves the disposition of 18,775 common shares.
• This disposition is a mandatory surrender of shares to cover tax liability incurred on January 5, 2026, in connection with the payout of restricted share units.
• The shares were disposed of at a price of $13.2 per share.
• Following this transaction, Mr. Goncalves will beneficially own 398,849.613 common shares.
• The transaction date is January 5, 2026.

Sentiment

Score: 5

Explanation: The filing reports a routine, mandatory tax-related disposition of shares by an executive, which is a neutral event with no direct positive or negative implications for the company's operational or financial performance.

Future Outlook

The filing details a future transaction scheduled for January 5, 2026, which is a mandatory tax-related disposition of shares.

Industry Context

This is a routine insider transaction related to executive compensation and tax obligations, common across all industries for publicly traded companies with equity compensation plans.

Stakeholder Impact

• Shareholders: Minimal impact as this is a routine, mandatory tax-related transaction by an executive, not indicative of a change in company fundamentals or strategy.
• Employees (specifically the reporting person): The transaction reflects the payout of previously granted restricted share units and the associated tax obligations, a standard part of executive compensation.

Key Dates

Keywords

Cleveland-Cliffs, CLF, Insider Transaction, Form 4, Executive Compensation, Share Disposition, Tax Withholding, Restricted Share Units