IRELAND JAMES D III 4
4 · CLEVELAND CLIFFS INC · Filed Dec 27, 2006
Insider Transaction Report
Form 4
IRELAND JAMES D III
Director
Transactions
- Sale
Common Stock
2006-12-22$46.31/sh−6,000$277,831→ 174,796 total(indirect: By Trust)
Holdings
- 11,336.399
Stock Units
→ Common Shares (11,336.399 underlying) - 15,608
Common Stock
Footnotes (6)
- [F1]On June 30, 2006, the common stock of Cleveland-Cliffs Inc split 2-for-1, resulting in the reporting person's acquisition of 90,398 additional shares.
- [F2]Shares are held in five trusts for the benefit of siblings and the Reporting Person who is a co-trustee of the trusts. The Reporting Person disclaims beneficial ownership of 127,947 of these shares. The Reporting Person has an interest in the income or corpus with respect to 46,849 shares.
- [F3]On June 30, 2006, the common stock of Cleveland-Cliffs Inc split 2-for-1, resulting in the reporting person's acquisition of 7,804 additional shares.
- [F4]Convertible into Common Shares on a 1-for-1 basis.
- [F5]Reflects number of Common Shares underlying deferred compensation credited to the account of the Reporting Person under the Plan. Each Stock Unit is generally distributable following termination of service as a Director.
- [F6]The total includes dividend reinvestment pursuant to the Nonemployee Directors' Compensation Plan (as Amended and Restated January 1, 2005) ("Plan"). The number of deferred dividend reinvestment equivalent shares ("Equivalent Shares") earned in the Plan is calculated using the closing market price at the end of each quarter for shares held in the Plan. The reporting person was credited with 17.7573 Equivalent Shares on 6/30/2006. On June 30, 2006 at the close of market, the common stock of Cleveland-Cliffs Inc split 2-for-1, resulting in the reporting person's acquisition of 5,649.6688 additional shares. The reporting person was also credited with a further 37.0617 Equivalent Shares on 9/29/2006 pursuant to the Plan.