CLEVELAND-CLIFFS INC.
For the period ended Dec 31, 2024. Filed Apr 2, 2025.
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, 2024 · Filed Apr 2, 2025
Contents
45 | CLF 2025 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 guid elines. Moreover, our CEO has achieved ownership materially over what is required - over 41 times share ownership compared to base salary, refl ecting 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, 2024.
| 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, 2024 | ||||||
|---|---|---|---|---|---|---|
| # OF SHARES OWNED DIRECTLY · # OF RESTRICTED STOCK UNITS · # OF TOTAL SHARES | ||||||
| Goncalves | $80,630,530 | $10,305,486 | $90,936,016 | 6x | 13,206,000 | 41.3x |
| 5,106,430 | 652,659 | 5,759,089 | ||||
| C. Goncalves | $2,234,964 | $2,728,812 | $4,963,776 | 3x | 2,550,000 | 5.8x |
| 141,543 | 172,819 | 314,362 | ||||
| Smith | $9,173,137 | $2,986,884 | $12,160,021 | 3x | 2,679,000 | 13.6x |
| 580,946 | 189,163 | 770,109 | ||||
| Koci | $4,507,429 | $2,538,953 | $7,046,382 | 3x | 2,214,000 | 9.5x |
| 285,461 | 160,795 | 446,256 | ||||
| Graham | $6,293,041 | $2,140,445 | $8,433,486 | 3x | 2,160,000 | 11.7x |
| 398,546 | 135,557 | 534,103 | ||||
| (1)Value is calculated based on the one-year average closing price per share of our shares as of December 31, 2024, which was $15.79. | ||||||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.