Form 4: Cleveland-Cliffs Director Arlene M. Yocum Receives Restricted Stock Grant

Director Arlene M. Yocum acquired 18,567 common shares of Cleveland-Cliffs Inc. as restricted stock on April 23, 2025, under the company's 2021 Nonemployee Directors' Compensation Plan.

Summary

• On April 23, 2025, Arlene M. Yocum, a director of Cleveland-Cliffs Inc., acquired 18,567 common shares.
• These shares were granted as restricted stock under the 2021 Nonemployee Directors' Compensation Plan.
• Following this transaction, Yocum directly owns 121,133 common shares of Cleveland-Cliffs Inc.

Sentiment

Score: 7

Explanation: The document reflects a routine director compensation event, which is generally viewed neutrally to positively as it aligns director and shareholder interests.

Positives

• The grant of restricted stock aligns the director's interests with those of the shareholders.
• The 2021 Nonemployee Directors' Compensation Plan is being utilized to compensate directors.

Industry Context

Director compensation through stock grants is a common practice in publicly traded companies to align the interests of directors with those of shareholders.

Comparison to Industry Standards

• Stock grants to directors are a standard component of compensation packages in publicly traded companies, often used to incentivize performance and align interests with shareholders.
• The size of the grant (18,567 shares) would need to be compared to grants given to directors at comparably sized companies in the steel and mining industry to assess its relative value.
• Companies like US Steel (X) and Nucor (NUE) also utilize stock-based compensation for their directors, and their compensation structures could serve as benchmarks.

Stakeholder Impact

• The stock grant to a director can have a minor positive impact on shareholder confidence by aligning management's interests with theirs.

Key Dates

Keywords

Cleveland-Cliffs, Director, Restricted Stock, Common Shares, Beneficial Ownership, Compensation Plan