Bloom Ron A. 4

What Happened

• Ron A. Bloom, a director of Cleveland‑Cliffs Inc. (CLF), was issued 4,246 common shares on July 1, 2026 as a non‑cash retainer. The shares were valued at $9.42 each, for a total of $39,997. This was an acquisition/award of shares (code A on the Form 4) rather than a market purchase or sale.

Key Details

• Transaction date: July 1, 2026; Filing date (Form 4): July 2, 2026.
• Shares issued: 4,246 at $9.42 per share; total value reported $39,997.
• Shares owned after transaction: not disclosed in the provided filing excerpt.
• Footnote (F1): Shares were issued in payment of Bloom’s quarterly nonemployee director retainer in lieu of cash under Cleveland‑Cliffs’ Nonemployee Director Retainer Share Election Program; Bloom elected 100% participation.
• Filing does not indicate a late report.

Context

• This transaction represents director compensation in the form of equity rather than a purchase signal by management; such retainer-share issuances are a routine way to compensate nonemployee directors and do not, by themselves, indicate the director’s view on the company’s stock.
• For retail investors watching insider activity, purchases can be more informative than routine awards; this filing documents compensation issuance rather than a discretionary buy or sell.