CRONIN JANE M. 4

What Happened
Jane M. Cronin, a director of Cleveland‑Cliffs Inc. (CLF), was granted 15,334 restricted shares on April 21, 2026. The shares were reported as acquired at a $0.00 per‑share price (typical for compensation awards) and reflect a director equity award rather than an open‑market purchase or sale.

Key Details

• Transaction date: 2026-04-21; Filing date (Form 4): 2026-04-23 — filing appears timely.
• Transaction type/code: A — Award/Grant of restricted shares.
• Shares granted: 15,334; acquisition price reported: $0.00.
• Shares owned after transaction: not specified in the filing.
• Footnote: Grant is the 2026 Director Restricted Shares issued under the 2021 Nonemployee Directors' Compensation Plan (see footnote F1).

Context
This was a compensation award for a nonemployee director, not a market purchase or sale. Restricted shares typically vest according to the company’s director compensation plan (check proxy or plan docs for vesting terms). Such grants are routine board compensation and do not, by themselves, indicate the director is buying or selling the stock in the open market.