Form 4: Cleveland-Cliffs Executive Sells Shares for Tax Liability

Cleveland-Cliffs EVP & President, CC Services, Keith Koci, disposed of 15,947 common shares to cover tax liabilities related to restricted share unit payouts.

Summary

• Keith Koci, Executive Vice President & President, CC Services at CLEVELAND-CLIFFS INC. (CLF), reported a transaction on January 5, 2026.
• The transaction involved the mandatory surrender of 15,947 common shares.
• These shares were disposed of to satisfy tax liabilities incurred in connection with the payout of restricted share units.
• The shares were valued at $13.2 per share for the purpose of this transaction.
• Following this transaction, Keith Koci beneficially owns 527,528 common shares directly.

Sentiment

Score: 5

Explanation: The transaction is a mandatory surrender of shares to cover tax liabilities from restricted share unit payouts, which is a routine and neutral event for an insider. It does not reflect discretionary buying or selling based on confidence in the company's performance.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This insider transaction is a routine event related to executive compensation and tax obligations, and it does not provide specific insights into broader industry trends or competitive landscape for the steel and mining sector.

Stakeholder Impact

• Shareholders: Minimal impact as this is a routine, non-discretionary transaction for tax purposes and does not signal a change in management's confidence or company fundamentals.

Key Dates

Keywords

Cleveland-Cliffs, CLF, Insider Transaction, Form 4, Stock Sale, Tax Liability, Restricted Share Units, Executive Compensation