CRONIN JANE M. 4

What Happened

• Jane M. Cronin, a director of Cleveland-Cliffs Inc. (CLF), was issued 4,534 common shares as an award/retainer on 2026-04-01.
• The shares were valued at $8.27 each for a total reported value of $37,496. This was an award/acquisition (transaction code A) — shares issued in lieu of cash compensation, not an open-market purchase.

Key Details

• Transaction date: 2026-04-01; Price reported: $8.27 per share; Total value: $37,496.
• Transaction type: Award/Grant (A) — director retainer paid in shares.
• Footnote: Cronin elected 100% participation in the Cleveland‑Cliffs Nonemployee Director Retainer Share Election Program, receiving her quarterly retainer fully in shares.
• Shares owned after transaction: Not disclosed in this filing.
• Filing timing: Report filed 2026-04-02 for a 2026-04-01 transaction (appears timely).

Context

• This is routine director compensation (retainer paid in stock) rather than a personal cash purchase or sale, so it is not necessarily a direct signal of the director’s view on the stock.
• Such awards are common for nonemployee directors and reflect compensation policy rather than opportunistic trading.