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

Celso L. Goncalves Jr., EVP and CFO of Cleveland-Cliffs, sold 14,704 common shares to cover tax liabilities related to the payout of restricted share units.

Summary

• Celso L. Goncalves Jr., the Executive Vice President and Chief Financial Officer of Cleveland-Cliffs Inc., sold 14,704 common shares on January 3, 2025.
• The sale was executed at a price of $9.5 per share.
• This transaction was a mandatory surrender of shares to cover tax liabilities associated with the payout of restricted share units.
• Following the transaction, Mr. Goncalves directly owns 299,657.613 common shares.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, with no indication of positive or negative sentiment.

Industry Context

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

Comparison to Industry Standards

• Similar transactions are common among executives at publicly traded companies, particularly around the vesting of restricted stock units.
• The sale of shares to cover tax liabilities is a standard practice and does not indicate any unusual activity compared to other companies.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.

Key Dates

Keywords

Cleveland-Cliffs, CLF, insider trading, Form 4, share sale, executive compensation, restricted stock units, tax liability