CRONIN JANE M. 4

What Happened

• Jane M. Cronin, a non-employee director of Cleveland‑Cliffs Inc. (CLF), was issued 4,246 common shares on 2026-07-01 as an award/acquisition (transaction code A).
• The shares were valued at $9.42 each, for a total reported value of $39,997. This issuance was in lieu of cash as payment of her quarterly director retainer.

Key Details

• Transaction date and price: 2026-07-01 at $9.42 per share (4,246 shares; total ~$39,997).
• Transaction type: Award/Grant (A) — issuance of shares as compensation, not an open‑market purchase.
• Shares owned after transaction: Not disclosed in this filing.
• Footnote: The shares were issued under the Cleveland‑Cliffs Nonemployee Director Retainer Share Election Program; Cronin elected 100% of her quarterly retainer to be paid in shares.
• Filing timeliness: Report covers 2026-07-01 and was filed 2026-07-02 — appears timely.

Context

• This was a standard director compensation issuance (retainer paid in shares), a routine non-cash award rather than a personal cash purchase or sale. Such retainer-share issuances are common and reflect compensation choices, not necessarily a buy/sell signal about company prospects.