Form 4: Cleveland-Cliffs Executive Exercises and Sells Shares
SEC Form 4
Clifford T. Smith, EVP & President, CC Steel at Cleveland-Cliffs Inc., exercised stock options and sold shares on March 6, 2024.
Summary
- On March 6, 2024, Clifford T. Smith, an executive at Cleveland-Cliffs Inc., exercised 27,430 stock options at a price of $7.7.
- Following the exercise, Smith sold 27,430 common shares at a weighted average price of $20.19, with prices ranging from $20.00 to $20.36.
- After these transactions, Smith directly owns 770,109 common shares.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of stock transactions. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Industry Context
This filing is a routine disclosure of insider trading activity, which is common for executives who receive stock options as part of their compensation. It provides transparency into the executive's transactions in the company's stock.
Stakeholder Impact
- The transaction provides transparency to shareholders regarding executive stock transactions.
Key Dates
| Date | Description |
|---|---|
| 12/31/2017 | Date exercisable for employee stock options |
| 01/11/2025 | Expiration date of the stock options exercised. |
| 03/06/2024 | Date of the stock option exercise and share sale. |
| 03/08/2024 | Date of the Form 4 filing. |
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