Smith Clifford T 4

What Happened
Clifford T. Smith, COO of Cleveland-Cliffs Inc. (CLF), sold 200,000 shares in an open-market transaction on February 17, 2026. The weighted-average sale price reported was $10.46 per share, for total proceeds of $2,092,080. This was a sale (S), not a purchase or option exercise.

Key Details

• Transaction date: 2026-02-17; Filing date: 2026-02-18 (timely filing).
• Price: weighted average $10.46 per share; reported range across multiple trades was $10.10 to $10.67 (footnote F1).
• Shares sold: 200,000; total proceeds ≈ $2,092,080.
• Shares owned after transaction: not specified in the information provided in your summary.
• Footnote: The filer says the $10.46 is a weighted average and will provide a breakdown of the number of shares sold at each price in the $10.10–$10.67 range upon request (per F1).
• Transaction type: Open-market sale (Form 4 code S). No 10b5-1 plan, gift, option exercise, or tax-withholding information was reported in the provided data.

Context
Insider sales are common and can reflect many reasons (diversification, personal liquidity, tax planning) and are not by themselves proof of company prospects. This sale by the COO generated roughly $2.1M in proceeds. Retail investors should consider this alongside other insider activity, recent company news, and fundamentals before drawing conclusions.