Bloom Ron A. 4

What Happened

• Ron A. Bloom, a director of Cleveland-Cliffs Inc. (CLF), was issued 4,837 common shares on 2026-04-01. The shares were recorded at $8.27 each for a total value of $40,002. The Form 4 transaction code is A (award/grant or other acquisition) — these shares were issued as payment of his director retainer, not an open-market purchase.

Key Details

• Transaction date: 2026-04-01; filing date: 2026-04-02 (filed the next day, appears timely).
• Price per share: $8.27; total value: $40,002.
• Shares acquired: 4,837.
• Shares owned after transaction: not disclosed in the provided excerpt.
• Footnote: Bloom elected to receive his quarterly non-employee director retainer in shares (100% election) under the Cleveland-Cliffs Nonemployee Director Retainer Share Election Program.
• Transaction code: A (award/grant or other acquisition).

Context

• This issuance reflects routine compensation for a non-employee director (retainer paid in stock). Such director retainer share issuances are common and represent compensation rather than a market purchase that would signal a personal bullish bet.