Hawk George W Jr 4
4 · CLIFFS NATURAL RESOURCES INC. · Filed Mar 6, 2009
Insider Transaction Report
Form 4
Hawk George W Jr
General Counsel & Secretary
Transactions
- Award
Common Stock
2009-03-05$15.43/sh+8,670$133,778→ 18,881 total - Tax Payment
Common Stock
2009-03-05$15.43/sh−2,893$44,639→ 15,988 total - Disposition to Issuer
Retention Units 2006-2008
2009-03-05$25.61/sh−1,020$26,122→ 0 total→ Common Shares (1,020 underlying)
Footnotes (5)
- [F1]Reflects payout in Common Stock of Performance Shares earned under the Cleveland-Cliffs Inc 1992 Equity Plan (as Amended and Restated as of May 13, 1997) as amended ("Plan"), for the 2006-2008 Performance Period.
- [F2]Surrender of Performance Shares represented in footnote (1) in payment of the related tax liability incurred by the reporting person.
- [F3]Convertible into Common Shares on a 1-for-1 basis.
- [F4]Represents a payout of Retention Units to the Reporting Person under the Cleveland-Cliffs Inc Long-Term Incentive Program of the Plan covering the period January 1, 2006 through December 31, 2008 (Incentive Period). Payment of the Retention Units was made in cash after the completion of the Incentive Period based upon the employment by the Company of the Reporting Person and the market value of a Common Share of the Company on December 31, 2008 pursuant to the Plan.
- [F5]Total ownership reflects the 2-for-1 stock split on May 15, 2008, which resulted in the reporting person's receiving 510 additional retention units.