Form 4: Cleveland-Cliffs Director Ben Oren Receives Pro Rata Grant of Restricted Shares

Director Ben Oren acquired 7,467 common shares of Cleveland-Cliffs Inc. on May 16, 2024, as part of the 2024 Director Restricted Shares program.

Summary

• On May 16, 2024, Ben Oren, a director of Cleveland-Cliffs Inc., acquired 7,467 common shares.
• The acquisition was a grant of restricted shares under the 2021 Nonemployee Directors' Compensation Plan.
• The shares were granted on a pro rata basis as part of the 2024 Director Restricted Shares program.
• Following the transaction, Oren directly owns 7,467 common shares.

Sentiment

Score: 7

Explanation: The document reflects a routine director compensation transaction, which is generally neutral to positive as it aligns director interests with shareholders.

Positives

• The grant of restricted shares aligns the director's interests with those of the shareholders.

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

• Many companies use restricted stock grants as part of their director compensation packages.
• The size of the grant is typical for director compensation at companies of similar size and industry to Cleveland-Cliffs.

Stakeholder Impact

• The grant of restricted shares aligns the director's interests with those of the shareholders, potentially encouraging decisions that benefit the company's long-term value.

Key Dates