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CLFCleveland-Cliffs Inc. · Insider ownership research

Cleveland-Cliffs Inc. insiders sold $42.2M in the past 12 months. How much of their stake is that?

0% was sold under disclosed trading plans, 100% with no plan disclosed. The largest seller, Lourenco Goncalves (Chairman, President & CEO, Director), sold $37.3M.Share-of-stake figures for this company are being verified and will be added when that check is finished. Why

Updated Oct 16, 2026 from SEC filings · covers Oct 17, 2025 to Oct 16, 2026
1
buyer among officers and directors (1 trade), past 12 months
0%
of sales were under disclosed trading plans, past 12 months
3 of 17
officers and directors sold shares, past 12 months
Is this normal? More than usual: $42.2M sold, after almost none in the past 5 years. 3 insiders sold; the average is 3 a year. Year by year
Latest filing: Filed Oct 2 for a stock award on Oct 1. Ron Bloom received an award of 3.5K shares. Filing
SEC ownership filings: 36 filed in the 12 months to Oct 16, 2026; 1,801 on record since Dec 30, 2002 · See the evidence

What stands out

Three officers sold $42.2M with no disclosed plan: Lourenco Goncalves ($37.3M), Celso Goncalves Jr. ($2.9M) and Clifford Smith ($2.1M). The filings don't state a reason.Lourenco Goncalves: largest such sale, Feb 11, 2026 · Celso Goncalves Jr.: largest such sale, Jun 5, 2026 · Clifford Smith: largest such sale, Feb 17, 2026
Edilson Camara bought 20K shares for $200K, first on Feb 13, 2026.Purchase, Feb 13, 2026

A share of stake is shown for 0 of the 3 officers and directors who sold. 17 are left out

i
Left out: Lourenco Goncalves, Clifford Smith, Terry Fedor, Keith Koci, James Graham, Celso Goncalves Jr., Gabriel Stoliar, Ralph Michael III, John Baldwin, Arlene Yocum, Douglas Taylor, Susan Green, Ron Bloom, Kimberly Floriani, Jane Cronin, Ben Oren and Edilson Camara (share of stake is being verified).
Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Their share of stake is being verified and is not shown yet; amounts and trading plans are below.

Lourenco Goncalves
Chairman, President & CEO, Director
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$37.3MNo plan disclosed
Celso Goncalves Jr.
EVP, CFO
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$2.9MNo plan disclosed
Clifford Smith
EVP & Chief Operating Officer
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$2.1MNo plan disclosed
Amounts, filings and trading plans for each seller

Selling by month

Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

No plan disclosedOne dollar scale for every month; the tallest bar is labeled
OctNovDecJanFeb 2026: $39.3M no plan disclosed$39.3MFebMarAprMayJun 2026: $2.9M no plan disclosedJunJulAugSepOct

Recent activity

Past 30 days, Sep 17, 2026 to Oct 16, 2026

No officer or director trades were reported for the past 30 days. The most recent before that:

Jun 5, 2026Celso Goncalves Jr. sold 214K shares ($2.9M) with no plan disclosed.
WhoSharesPrice% of total stakeTotal stake afterTrade dateFiled
Celso Goncalves Jr.
EVP, CFO
214,308$13.41n/an/aJun 5, 2026Jun 5, 2026

Common questions

Is the Cleveland-Cliffs Inc. CEO selling stock?

Yes. Lourenco Goncalves sold 3.00M shares ($37.3M) in the past 12 months, none of it under a trading plan disclosed in the filings.

Why are Cleveland-Cliffs Inc. insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 0% of sales by value ran under 10b5-1 trading plans disclosed in the filings and 100% had no disclosed plan. A trading plan schedules sales in advance.

Are any Cleveland-Cliffs Inc. insiders buying?

Yes. 1 officer or director reported 1 purchase in the past 12 months (Form 4 code P; rows the filings describe as reinvested dividends, plan purchases, private deals or moves into the person's own trust are not counted).

The evidence

Who sold3 officers and directors: amount, % of holdings, trading plan
Who soldAmount% of holdingsTrading plan
Lourenco Goncalves
Chairman, President & CEO, Director
$37.3M
3.00M shares
Not confirmed
share of stake is being verified. Why
No plan disclosed
Celso Goncalves Jr.
EVP, CFO
$2.9M
214K shares
Not confirmed
share of stake is being verified. Why
No plan disclosed
Clifford Smith
EVP & Chief Operating Officer
$2.1M
200K shares
Not confirmed
share of stake is being verified. Why
No plan disclosed
The full ownership picture0 of 17 officers and directors confirmed

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

InsiderHeld Oct 16, 2025SoldHeld Oct 16, 2026Still held
Lourenco Goncalves
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. See the filing Sales and other transactions for Lourenco Goncalves are complete.
Chairman, President & CEO, Director
n/a−3.00Mn/an/a
Vesting, gifts, unvested awards and holding lines for Lourenco Goncalves

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Lourenco Goncalves are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−84Kwithheld by the company for taxes
Clifford Smith
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Clifford Smith are complete.
EVP & Chief Operating Officer
n/a−200Kn/an/a
Vesting, gifts, unvested awards and holding lines for Clifford Smith

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Clifford Smith are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−19Kwithheld by the company for taxes
Terry Fedor
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Terry Fedor are complete.
EVP, Engineering & Technology
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Terry Fedor

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Terry Fedor are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−6.9Kwithheld by the company for taxes
Keith Koci
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Keith Koci are complete.
EVP & President, CC Services
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Keith Koci

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Keith Koci are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−16Kwithheld by the company for taxes
James Graham
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for James Graham are complete.
EVP Chief Legal Admin & Sec
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for James Graham

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for James Graham are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−14Kwithheld by the company for taxes
Celso Goncalves Jr.
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Celso Goncalves Jr. are complete.
EVP, CFO
n/a−214Kn/an/a
Vesting, gifts, unvested awards and holding lines for Celso Goncalves Jr.

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Celso Goncalves Jr. are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−19Kwithheld by the company for taxes
Gabriel Stoliar
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Gabriel Stoliar are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Gabriel Stoliar

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Gabriel Stoliar are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−1.2Kwithheld by the company for taxes
Ralph Michael III
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Ralph Michael III are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Ralph Michael III

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Ralph Michael III are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
John Baldwin
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for John Baldwin are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for John Baldwin

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for John Baldwin are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Arlene Yocum
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Arlene Yocum are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Arlene Yocum

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Arlene Yocum are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Douglas Taylor
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Douglas Taylor are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Douglas Taylor

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Douglas Taylor are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Susan Green
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Susan Green are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Susan Green

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Susan Green are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Ron Bloom
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Ron Bloom are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Ron Bloom

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Ron Bloom are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Kimberly Floriani
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Kimberly Floriani are complete.
SVP, Controller & CAO
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Kimberly Floriani

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Kimberly Floriani are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−3.2Kwithheld by the company for taxes
Jane Cronin
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Jane Cronin are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Jane Cronin

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Jane Cronin are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Ben Oren
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Ben Oren are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Ben Oren

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Ben Oren are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Edilson Camara
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Edilson Camara are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Edilson Camara

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Edilson Camara are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Holdings and share of stake for Cleveland-Cliffs Inc. are being verified, so no balances, unit counts or percentages are shown. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings.

What explains the selling$42.2M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $42.2M across 3,414,308 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

No plan disclosed · $42.2M

Sales with no 10b5-1 plan and no tax reference in the filing. $37.3M of it is Lourenco Goncalves. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Lourenco Goncalves, Feb 11, 2026

Taxes

163,363 shares ($2.2M) were withheld by the company for taxes, which isn't a market sale.

Purchases · 1 buyer (1 trade)

1 officer or director bought shares in this period, in 1 trade(Form 4 code P, leaving out rows the filings describe as reinvested dividends, plan purchases, private deals or moves into the person's own trust). Across all their filings on record there are 62 purchase trades.

SellerShares soldProceedsUnder a disclosed planShare of totalSales dates
Lourenco Goncalves
Chairman, President & CEO, Director
3.00M$37.3M0%88%Feb 11, 2026 to Feb 11, 2026
Celso Goncalves Jr.
EVP, CFO
214K$2.9M0%7%Jun 5, 2026 to Jun 5, 2026
Clifford Smith
EVP & Chief Operating Officer
200K$2.1M0%5%Feb 17, 2026 to Feb 17, 2026

Sales by month

MonthSale proceedsDisclosed planTo cover taxesNo plan disclosed
Oct 2025$0$0$0$0
Nov 2025$0$0$0$0
Dec 2025$0$0$0$0
Jan 2026$0$0$0$0
Feb 2026$39.3M$0$0$39.3M
Mar 2026$0$0$0$0
Apr 2026$0$0$0$0
May 2026$0$0$0$0
Jun 2026$2.9M$0$0$2.9M
Jul 2026$0$0$0$0
Aug 2026$0$0$0$0
Sep 2026$0$0$0$0
Oct 2026$0$0$0$0
Is this normal? Selling year by year5 earlier years to compare with

More than usual: $42.2M sold, after almost none in the past 5 years. 3 insiders sold; the average is 3 a year.

12 months endingShares soldInsiders who soldProceeds
Oct 16, 2026
Latest 12 months
3.41M3$42.2M
Oct 16, 2025
1 year earlier
122K2$840K
Oct 16, 2024
2 years earlier
309K6$6.0M
Oct 17, 2023
3 years earlier
51K2$1.1M
Oct 17, 2022
4 years earlier
50K2$1.2M
Oct 17, 2021
5 years earlier
38K2$837K

Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.

Known gaps and uncertainty17 officers and directors not confirmed

Holdings and share of stake are being verified. Balances, unit counts and every share-of-stake figure for Cleveland-Cliffs Inc. are held back until that check is finished. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings and are complete.

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology1,801 filings on record, 36 filed in the 12-month period, and how we read them

All 1,801 Forms 3, 4 and 5 on record for Cleveland-Cliffs Inc. (SEC CIK 764065), filed from Dec 30, 2002 to Oct 2, 2026; 36 of them were filed in the 12 months this page covers, retrieved from SEC EDGAR on Oct 16, 2026. Prices are the ones reported in each filing, often weighted averages. 40 older filings exist only on paper and could not be read.

Probable 2-for-1 stock split on or before Dec 31, 2004 (split date stated in a footnote). Splits aren't reported as transactions; 15 holding lines changed by exactly this ratio, so earlier share counts are restated.

Probable 2-for-1 stock split on or before Jun 30, 2006 (split date stated in a footnote). Splits aren't reported as transactions; 25 holding lines changed by exactly this ratio, so earlier share counts are restated.

Probable 4-for-1 stock split on or before Jun 30, 2006 (split date stated in a footnote). Splits aren't reported as transactions; 8 holding lines changed by exactly this ratio, so earlier share counts are restated.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

Former or inactive filers (64)No filing in 18 months; last reported balances, not in any total
NameLast filedLast reported balance
Traci ForresterFeb 21, 2025209,778 shares, last reported balance as of Feb 19, 2025
Janet MillerApr 26, 2024101,795 shares, last reported balance as of Apr 25, 2024
Robert Fisher Jr.Apr 3, 2024189,957 shares, last reported balance as of Apr 1, 2024
William GerberApr 28, 2023137,578 shares, last reported balance as of Apr 26, 2023
Maurice HarapiakFeb 28, 2022472,090 shares, last reported balance as of Feb 24, 2022
Eric RychelApr 30, 202128,830 shares, last reported balance as of Apr 22, 2020
Ann HarlanApr 30, 202172,102 shares, last reported balance as of Apr 28, 2021
ArcelorMittalFeb 25, 202138,186,671 shares, last reported balance as of Feb 11, 2021
Christopher CebulaMar 17, 2020104,234 shares, last reported balance as of Mar 13, 2020
Michael SiegalJan 6, 2020109,517 shares, last reported balance as of Jan 2, 2020
Joseph RutkowskiApr 26, 2019111,318 shares, last reported balance as of Apr 24, 2019
Terrence MeeFeb 21, 2019243,868 shares, last reported balance as of Feb 19, 2019
Timothy FlanaganMay 30, 2018207,043 shares, last reported balance as of May 26, 2018
Kelly TompkinsJan 3, 2018427,269 shares, last reported balance as of Dec 31, 2017
James SawyerApr 29, 201634,682 shares, last reported balance as of Nov 4, 2015
Terrance ParadieFeb 12, 201582,963 shares, last reported balance as of Feb 10, 2015
David WebbFeb 12, 201558,511 shares, last reported balance as of Feb 10, 2015
William BoorAug 13, 201486,340 shares, last reported balance as of Aug 6, 2014
James KirschFeb 12, 201439,975 shares, last reported balance as of Feb 10, 2014
James MichaudFeb 12, 201417,066 shares, last reported balance as of Feb 10, 2014
Ronald AderholdFeb 12, 201418,115 shares, last reported balance as of Feb 10, 2014
Gary HalversonFeb 12, 201497,560 shares, last reported balance as of Feb 10, 2014
Duke VetorFeb 7, 201447,873 shares, last reported balance as of Dec 31, 2013
Carolyn CheverineFeb 7, 20143,652 shares, last reported balance as of Dec 31, 2013
Donald GallagherNov 7, 2013151,270 shares, last reported balance as of Nov 5, 2013
Andres GluskiNov 7, 201312,049 shares, last reported balance as of Nov 5, 2013
Joseph CarrabbaNov 4, 2013211,284 shares, last reported balance as of Nov 1, 2013
Richard RiedererOct 3, 20132,521 shares, last reported balance as of Oct 1, 2013
Barry EldridgeOct 3, 201323,882 shares, last reported balance as of Oct 1, 2013
Susan CunninghamOct 3, 201320,232 shares, last reported balance as of Oct 1, 2013
Janice HenryOct 3, 201311,201 shares, last reported balance as of Oct 1, 2013
Timothy SullivanOct 3, 20135,823 shares, last reported balance as of Oct 1, 2013
Mark GaumondOct 3, 20135,047 shares, last reported balance as of Oct 1, 2013
Stephen JohnsonOct 3, 20132,728 shares, last reported balance as of Oct 1, 2013
David BlakeAug 20, 201329,158 shares, last reported balance as of Aug 16, 2013
Francis McAllisterMay 9, 201317,171 shares, last reported balance as of May 7, 2013
Richard RossApr 3, 20136,663 shares, last reported balance as of Apr 1, 2013
William HartMar 22, 2013No balance on record
Colin WilliamsMar 22, 2013No balance on record
Laurie BrlasMar 13, 2013103,989 shares, last reported balance as of Mar 11, 2013
Steven RaguzMar 13, 201321,670 shares, last reported balance as of Mar 11, 2013
Alan SchwartzApr 4, 201219,839 shares, last reported balance as of Apr 2, 2012
Duncan PriceMar 14, 201210,470 shares, last reported balance as of Mar 12, 2012
William McFaddenMar 14, 20127,781 shares, last reported balance as of Mar 12, 2012
Steve BaisdenMar 14, 20126,379 shares, last reported balance as of Mar 12, 2012
William BrakeFeb 29, 201264,932 shares, last reported balance as of Feb 27, 2012
Roger PhillipsMay 19, 201139,659 shares, last reported balance as of May 17, 2011
Gina GunningMar 10, 20111,120 shares, last reported balance as of Mar 8, 2011
William CalfeeMar 3, 201186,713 shares, last reported balance as of Mar 2, 2011
Richard MehanNov 8, 201015,814 shares, last reported balance as of Nov 4, 2010
Ronald CambreMay 13, 201024,349 shares, last reported balance as of May 11, 2010
George Hawk Jr.Mar 5, 201031,210 shares, last reported balance as of Mar 3, 2010
James Ireland IIIJan 5, 2010375,282 shares, last reported balance as of Dec 31, 2009
HARBINGER CAPITAL PARTNERS MASTER FUND I, LTD.Feb 4, 200924,401,985 shares, last reported balance as of Feb 3, 2009
Randy KummerMar 12, 200837,142 shares, last reported balance as of Mar 10, 2008
Robert LerouxMar 12, 200819,339 shares, last reported balance as of Mar 10, 2008
David GunningJun 4, 200767,992 shares, last reported balance as of May 31, 2007
James TretheweyMar 15, 200784,849 shares, last reported balance as of Mar 13, 2007
John BrinzoMar 2, 2007140,507 shares, last reported balance as of Mar 1, 2007
Edward DowlingFeb 13, 2007159,680 shares, last reported balance as of Sep 15, 2004
Ranko CucuzAug 3, 200519,782 shares, last reported balance as of Aug 3, 2005
Stephen OresmanApr 6, 200511,205 shares, last reported balance as of Mar 30, 2005
John MorleyDec 15, 2004No balance on record
Cynthia BezikNo balance on record

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