CLF · Cleveland-Cliffs Inc.

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$9.25 +0.27 (+3.01%) At close · Jul 21

Market Cap

$5.28B

Shares

570.41M

Named-executive compensation from the company's DEF 14A proxy statements — salary, bonus, stock and option awards, non-equity incentive, and the company-reported total per executive per fiscal year, exactly as disclosed in the Summary Compensation Table.

Fiscal 2025

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Lourenco Goncalves	CEO	$2,201,000	—	$12,874,374	—	$3,345,520	$105,647	$19,023,041
Clifford T. Smith	COO	$893,000	—	$3,917,585	—	$814,416	$51,331	$5,870,032
Celso L. Goncalves Jr	CFO	$850,000	—	$3,728,937	—	$775,200	$73,718	$5,535,355
Keith A. Koci	EVP & President, Cleveland-Cliffs Services	$738,000	—	$3,237,591	—	$673,056	$43,568	$4,774,415
James D. Graham	EVP, Chief Legal and Administrative Officer & Secretary 2025 amounts in columns (c) and (e) reflect the salary and non-equity incentive plan compensation for each NEO, respectively, before pre-tax reductions for contributions to the 401(k) Savings Plan, the NQDC Plan and certain other benefit plans. The 2025 salary for each of the NEOs includes his base salary before the employee's contributions to the 401(k) Savings Plan. The following table summarizes salary contributions for the 401(k) Savings Plan for our NEOs in 2025: Goncalves	$720,000	—	$2,807,663	—	$547,200	$46,320	$4,272,083

Fiscal 2024

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Lourenco Goncalves	CEO	$2,201,000	—	$11,469,565	—	$880,400	$121,632	$15,248,897
Clifford T. Smith	COO	$893,000	—	$3,490,106	—	$214,320	$52,660	$4,771,686
Celso L. Goncalves Jr	CFO	$850,000	—	$3,322,043	—	$204,000	$62,339	$4,494,082
Keith A. Koci	EVP & President, Cleveland-Cliffs Services	$738,000	—	$2,884,320	—	$177,120	$47,305	$3,945,645
James D. Graham	EVP, Chief Legal and Administrative Officer & Secretary 2025 amounts in columns (c) and (e) reflect the salary and non-equity incentive plan compensation for each NEO, respectively, before pre-tax reductions for contributions to the 401(k) Savings Plan, the NQDC Plan and certain other benefit plans. The 2025 salary for each of the NEOs includes his base salary before the employee's contributions to the 401(k) Savings Plan. The following table summarizes salary contributions for the 401(k) Savings Plan for our NEOs in 2025: Goncalves	$720,000	—	$2,501,338	—	$144,000	$45,740	$3,502,178

Fiscal 2023

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Lourenco Goncalves	CEO	$2,116,000	—	$11,860,431	—	$10,150,235	$112,655	$26,183,928
Clifford T. Smith	COO	$859,000	—	$3,611,091	—	$2,479,086	$50,930	$7,808,307
Keith A. Koci	EVP & President, Cleveland-Cliffs Services	$710,000	—	$2,984,710	—	$1,921,479	$41,700	$5,897,389
Celso L. Goncalves Jr	CFO	$750,000	—	$3,152,903	—	$1,555,254	$72,357	$5,740,614
James D. Graham	EVP, Chief Legal and Administrative Officer & Secretary 2025 amounts in columns (c) and (e) reflect the salary and non-equity incentive plan compensation for each NEO, respectively, before pre-tax reductions for contributions to the 401(k) Savings Plan, the NQDC Plan and certain other benefit plans. The 2025 salary for each of the NEOs includes his base salary before the employee's contributions to the 401(k) Savings Plan. The following table summarizes salary contributions for the 401(k) Savings Plan for our NEOs in 2025: Goncalves	$681,000	—	$2,544,728	—	$1,598,460	$43,810	$5,383,273

Fiscal 2022

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Lourenco Goncalves	CEO	$2,035,000	—	$9,260,335	—	$6,924,868	$236,575	$18,457,351
Maurice D. Harapiak	EVP, HR & Chief Administration Officer	$196,875	—	$1,733,872	—	$733,956	$4,426,247	$7,091,054
Clifford T. Smith	COO	$826,000	—	$2,364,331	—	$1,699,684	$62,659	$4,952,674
Keith A. Koci	EVP & President, Cleveland-Cliffs Services	$683,000	—	$2,167,293	—	$1,103,769	$49,839	$4,003,901
Celso L. Goncalves Jr	CFO	$660,000	—	$2,167,293	—	$714,669	$71,197	$3,613,159
James D. Graham	EVP, Chief Legal and Administrative Officer & Secretary 2025 amounts in columns (c) and (e) reflect the salary and non-equity incentive plan compensation for each NEO, respectively, before pre-tax reductions for contributions to the 401(k) Savings Plan, the NQDC Plan and certain other benefit plans. The 2025 salary for each of the NEOs includes his base salary before the employee's contributions to the 401(k) Savings Plan. The following table summarizes salary contributions for the 401(k) Savings Plan for our NEOs in 2025: Goncalves	$647,083	—	$1,733,872	—	$948,324	$48,614	$3,378,033

Fiscal 2021

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Lourenco Goncalves	CEO	$1,938,000	$3,876,000	$7,060,185	—	$10,760,320	$439,333	$24,494,731
Clifford T. Smith	EVP, COO	$765,000	$918,000	$1,741,806	—	$2,521,100	$84,870	$6,116,476
Keith A. Koci	EVP & President, Cleveland-Cliffs Services	$590,667	$780,000	$1,021,860	—	$1,645,636	$34,976	$4,192,839
Terry G. Fedor	EVP, Operations	$600,000	$600,000	$1,092,923	—	$1,602,410	$114,191	$4,034,224
Maurice D. Harapiak	EVP, HR & Chief Administration Officer	$561,000	$561,000	$1,021,860	—	$1,532,210	$77,899	$3,817,840
Celso L. Goncalves Jr	CFO	$404,667	$550,000	$453,563	—	$862,493	$46,229	$2,359,852
James D. Graham	EVP, Chief Legal and Administrative Officer & Secretary 2025 amounts in columns (c) and (e) reflect the salary and non-equity incentive plan compensation for each NEO, respectively, before pre-tax reductions for contributions to the 401(k) Savings Plan, the NQDC Plan and certain other benefit plans. The 2025 salary for each of the NEOs includes his base salary before the employee's contributions to the 401(k) Savings Plan. The following table summarizes salary contributions for the 401(k) Savings Plan for our NEOs in 2025: Goncalves	—	—	—	—	—	—	—

Fiscal 2020

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Lourenco Goncalves	CEO	$1,810,016	$3,800,000	$4,127,534	—	$7,472,000	$616,957	$18,511,405
Clifford T. Smith	EVP, COO	$706,218	$900,000	$1,018,304	—	$1,406,940	$65,180	$4,330,842
Terry G. Fedor	EVP, Operations	$531,699	$550,000	$597,410	—	$1,056,940	$208,629	$3,165,278
Maurice D. Harapiak	EVP, HR & Chief Administration Officer	$531,699	$550,000	$597,410	—	$1,056,940	$59,305	$2,958,623
Keith A. Koci	EVP & President, Cleveland-Cliffs Services	$489,006	$500,000	$543,095	—	$500,000	$28,110	$2,225,711
Celso L. Goncalves Jr	CFO	—	—	—	—	—	—	—
James D. Graham	EVP, Chief Legal and Administrative Officer & Secretary 2025 amounts in columns (c) and (e) reflect the salary and non-equity incentive plan compensation for each NEO, respectively, before pre-tax reductions for contributions to the 401(k) Savings Plan, the NQDC Plan and certain other benefit plans. The 2025 salary for each of the NEOs includes his base salary before the employee's contributions to the 401(k) Savings Plan. The following table summarizes salary contributions for the 401(k) Savings Plan for our NEOs in 2025: Goncalves	—	—	—	—	—	—	—

Fiscal 2019

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Lourenco Goncalves	CEO	$1,391,000	—	$5,891,147	—	$7,367,984	$255,931	$16,066,089
Clifford T. Smith	EVP, COO	$511,000	—	$1,352,622	—	$1,392,921	$38,881	$3,714,724
Terry G. Fedor	EVP, Operations	$439,000	—	$813,422	—	$1,110,020	$32,737	$2,749,779
Maurice D. Harapiak	EVP, HR & Chief Administration Officer	$439,000	—	$813,422	—	$1,096,592	$39,489	$2,637,785
Timothy K. Flanagan	CFO	$53,000	—	—	—	$266,428	$1,964,283	$2,468,984
Keith A. Koci	EVP & President, Cleveland-Cliffs Services	$378,413	—	$787,478	—	$611,517	$224,843	$2,002,251
Celso L. Goncalves Jr	CFO	—	—	—	—	—	—	—

Fiscal 2018

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Lourenco Goncalves	CEO	$1,350,000	—	$4,776,554	—	$8,280,000	$697,352	$15,443,927
Maurice D. Harapiak	EVP, HR & Chief Administration Officer	$426,000	—	$659,422	—	$1,243,866	$40,680	$2,411,740
Terry G. Fedor	COO	$426,000	—	$659,422	—	$1,275,466	$36,442	$2,405,930
Clifford T. Smith	COO	$426,000	—	$659,422	—	$1,275,466	$31,455	$2,392,343
Timothy K. Flanagan	CFO	$412,000	—	$637,763	—	$1,014,800	$31,435	$2,095,998
Keith A. Koci	CFO	—	—	—	—	—	—	—

Fiscal 2017

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Lourenco Goncalves	CEO	$1,300,000	$4,650,000	$11,858,417	—	$4,565,940	$536,946	$23,561,505
Clifford T. Smith	COO	$414,000	$673,350	$787,575	—	$588,939	$36,888	$2,658,552
Terry G. Fedor	EVP, Operations	$414,000	$673,350	$787,575	—	$588,939	$24,258	$2,627,922
Maurice D. Harapiak	EVP, HR & Chief Administration Officer	$400,000	$623,100	$760,951	—	$566,791	$39,124	$2,390,031
Timothy K. Flanagan	CFO	$400,000	$318,000	$760,951	—	$540,829	$30,553	$2,194,333
Keith A. Koci	CFO	—	—	—	—	—	—	—

Key facts CIK 764065 CUSIP 185899101 13F (30d) 91 filings 90 filers Visit website Investor relations