CLEVELAND-CLIFFS INC.

For the period ended Dec 31, 2025. Filed Apr 2, 2026.

About 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, 2025 · Filed Apr 2, 2026

CLF$11.46+1.7%Stored close · as of Nov 6, 2026

See the whole filing, with its images and exhibits

Contents

55 | CLF 2026 PROXY STATEMENT

CLIFFORD T. SMITH
BENEFIT	DEATH ($)	DISABILITY ($)	RETIREMENT ($)	VOLUNTARY TERMINATION ($)	INVOLUNTARY (WITHOUT CAUSE) TERMINATION ($)	CHANGE IN CONTROL WITHOUT TERMINATION ($)	TERMINATION WITHOUT CAUSE AFTER CHANGE IN CONTROL ($)
Cash Severance	—	—	—	—	—	—	3,929,200
Non-Equity Incentive Plan Compensation	1,366,300	1,366,300	2,180,700	1,366,300	1,366,300	—	3,804,200
Equity	2,335,700	2,335,700	2,335,700	2,335,700	2,335,700	—	5,149,400
Retirement Benefits	2,474,300	2,474,300	2,474,300	2,474,300	2,474,300	—	2,670,800
Non-Qualified Deferred Compensation	279,300	279,300	279,300	279,300	279,300	279,300	279,300
Other (Health & Welfare, Outplacement, Perquisites)	—	—	—	—	—	—	82,700
TOTAL	6,455,600	6,455,600	7,270,000	6,455,600	6,455,600	279,300	15,915,600

KEITH A. KOCI
BENEFIT	DEATH ($)	DISABILITY ($)	RETIREMENT ($)	VOLUNTARY TERMINATION ($)	INVOLUNTARY (WITHOUT CAUSE) TERMINATION ($)	CHANGE IN CONTROL WITHOUT TERMINATION ($)	TERMINATION WITHOUT CAUSE AFTER CHANGE IN CONTROL ($)
Cash Severance	—	—	—	—	—	—	3,247,200
Non-Equity Incentive Plan Compensation	1,129,100	1,129,100	1,802,200	1,129,100	1,129,100	—	3,143,900
Equity	1,930,300	1,930,300	1,930,300	1,930,300	1,930,300	—	4,255,600
Retirement Benefits	666,300	666,300	—	666,300	666,300	—	799,000
Non-Qualified Deferred Compensation	541,600	541,600	541,600	541,600	541,600	541,600	541,600
Other (Health & Welfare, Outplacement, Perquisites)	—	—	—	—	—	—	80,600
TOTAL	4,267,300	4,267,300	4,274,100	4,267,300	4,267,300	541,600	12,067,900

JAMES D. GRAHAM
BENEFIT	DEATH ($)	DISABILITY ($)	RETIREMENT ($)	VOLUNTARY TERMINATION ($)	INVOLUNTARY (WITHOUT CAUSE) TERMINATION ($)	CHANGE IN CONTROL WITHOUT TERMINATION ($)	TERMINATION WITHOUT CAUSE AFTER CHANGE IN CONTROL ($)
Cash Severance	—	—	—	—	—	—	2,880,000
Non-Equity Incentive Plan Compensation	979,200	979,200	1,526,400	979,200	979,200	—	2,678,400
Equity	1,674,000	1,674,000	1,674,000	1,674,000	1,674,000	—	3,690,500
Retirement Benefits	1,535,000	1,535,000	1,535,000	1,535,000	1,535,000	—	1,671,800
Non-Qualified Deferred Compensation	152,300	152,300	152,300	152,300	152,300	152,300	152,300
Other (Health & Welfare, Outplacement, Perquisites)	—	—	—	—	—	—	80,400
TOTAL	4,340,500	4,340,500	4,887,700	4,340,500	4,340,500	152,300	11,153,400

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.