Form 4: Cleveland-Cliffs Executive Keith Koci Sells Shares to Cover Tax Obligations

Executive Vice President and President of CC Services at Cleveland-Cliffs, Keith Koci, sold 14,704 common shares to cover tax liabilities related to the payout of restricted share units.

Summary

• Keith Koci, an Executive Vice President and President of CC Services at Cleveland-Cliffs, sold 14,704 common shares on January 3, 2025.
• The sale was executed to cover the tax liability incurred from the payout of restricted share units.
• The shares were sold at a price of $9.5 per share.
• Following the transaction, Koci directly owns 431,552 common shares.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, which is neither positive nor negative for the company's overall performance.

Industry Context

This is a routine transaction related to executive compensation and tax obligations, which is common in publicly traded companies.

Comparison to Industry Standards

• Executive share sales to cover tax obligations are a standard practice across publicly listed companies.
• Similar transactions are frequently seen in filings of other companies with equity-based compensation plans, such as US Steel, Nucor, and ArcelorMittal.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it involves a small number of shares compared to the total outstanding shares.

Key Dates

Keywords

Cleveland-Cliffs, Keith Koci, share sale, restricted share units, tax liability, executive transaction, Form 4