CLEVELAND-CLIFFS INC
For the period ended Dec 31, 2023. Filed Apr 3, 2024.
View on SEC.govAbout this filing
What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Dec 31, 2023 · Filed Apr 3, 2024
Contents
48 | CLF 2024 PROXY STATEMENT
For purposes of determining share ownership levels, only the following forms of our equity interests are taken into account:
shares owned directly (including restricted shares); and
unvested restricted stock units.
Currently, all NEOs are in compliance with our guidelines. Moreover, our CEO has achieved over 44 times share ownership compared to base salary, reflecting ownership not only from LTI awards but from significant after-tax open-market purchases during his tenure. The following table summarizes NEO ownership of our common shares as of December 31, 2023.
| VALUE OF SHARES OWNED DIRECTLY ($) · VALUE OF RESTRICTED STOCK UNITS ($) · TOTAL SHARE VALUE ($) (1) · REQUIRED MULTIPLE OF BASE SALARY · REQUIRED VALUE ($) · APPROXIMATE OWNERSHIP RELATIVE TO BASE SALARY AS OF DECEMBER 31, 2023 | ||||||
|---|---|---|---|---|---|---|
| # OF SHARES OWNED DIRECTLY · # OF RESTRICTED STOCK UNITS · # OF TOTAL SHARES | ||||||
| Goncalves | $83,292,849 | $10,102,036 | $93,394,885 | 6x | 12,696,000 | 44.1x |
| 4,873,777 | 591,108 | 5,464,885 | ||||
| C. Goncalves | $2,062,250 | $2,000,504 | $4,062,754 | 3x | 2,250,000 | 5.4x |
| 120,670 | 117,057 | 237,727 | ||||
| Smith | $9,139,339 | $2,747,081 | $11,886,420 | 3x | 2,577,000 | 13.8x |
| 534,777 | 160,742 | 695,519 | ||||
| Koci | $4,375,143 | $2,176,446 | $6,551,589 | 3x | 2,130,000 | 9.2x |
| 256,006 | 127,352 | 383,358 | ||||
| Graham | $6,302,689 | $1,876,294 | $8,178,983 | 3x | 2,043,000 | 12.0x |
| 368,794 | 109,789 | 478,583 | ||||
| (1)Value is calculated based on the one-year average closing price per share of our shares as of December 31, 2023, which was $17.09. | ||||||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.