SEC Form 4 · accession 0000764065-15-000133
CLEVELAND-CLIFFS INC. · CLF
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Douglas C Taylor
Director
Period of report
Oct 1, 2015
Accepted (ET)
Oct 5, 2015 · 4:16 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000764065
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common SharesF1 | Oct 1, 2015 | A | 7,945 | $2.36 | A | 7,940,979 | D | |
| Common SharesF2 | holding | — | — | — | 14,400 | I | Douglas C. Taylor 2005 Family Trust |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On July 13, 2015 the Board of Directors of Cliffs Natural Resources Inc. (the "Company") approved the Nonemployee Director Retainer Share Election Program (the "Retainer Election Program") pursuant to which the nonemployee directors may elect to receive all or any portion of their annual retainer and any other fees earned in cash in common shares of the Company beginning with the fourth quarter 2015 payment. The number of shares reported reflect the reporting person's election to participate in the Retainer Election Program at 50%.
- F2These shares are held in a trust for the benefit of the reporting person's children. The reporting person's spouse is a trustee of the trust. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.