PRICE DUNCAN 4
4 · CLIFFS NATURAL RESOURCES INC. · Filed Sep 11, 2009
Insider Transaction Report
Form 4
PRICE DUNCAN
SVP,Managing Director Asia-Pac
Transactions
- Award
Retention Units 2009-2011
2009-09-01+1,425→ 2,150 total→ Common Shares (1,425 underlying)
Footnotes (2)
- [F1]Convertible into Common Shares on a 1-for-1 basis.
- [F2]The number represents an additional grant of Retention Units to the Reporting Person by the Board of Directors of the Company under the Cliffs Natural Resources Inc. 2007 Incentive Equity Plan ("Plan") covering the period January 1, 2009 through December 31, 2011 (Incentive Period). Payment of the Retention Units is 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, 2011 pursuant to the Plan.