Form 4: Cleveland-Cliffs Director Ralph S. Michael III Awarded Restricted Shares

Director Ralph S. Michael III receives 18,567 restricted shares of Cleveland-Cliffs Inc. as part of the 2025 Director Restricted Shares plan.

Summary

• Ralph S. Michael III, a director of Cleveland-Cliffs Inc., received 18,567 restricted shares on April 23, 2025.
• The shares were granted as part of the 2025 Director Restricted Shares under the 2021 Nonemployee Directors' Compensation Plan.
• Following the transaction, Michael directly owns 218,086 common shares.

Sentiment

Score: 7

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

Positives

• The grant of restricted shares aligns the director's interests with those of the shareholders.
• The director's compensation plan is formalized and in place.

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 are a typical component of director compensation packages in publicly traded companies, such as US Steel (X) and Nucor (NUE).
• The size of the grant is likely determined by company performance, industry benchmarks, and internal compensation policies.

Stakeholder Impact

• Shareholders may view the grant of restricted shares positively as it aligns the director's interests with the company's long-term performance.
• Employees are unlikely to be directly impacted by this transaction.

Key Dates

Keywords

Cleveland-Cliffs, Director, Restricted Shares, Compensation Plan, Ownership, CLF