Cleveland-Cliffs (NYSE: CLF) director buys 19,700 common shares

Rhea-AI Filing Summary

Cleveland-Cliffs Inc. director Edilson Camara bought 19,700 common shares in an open-market transaction. The purchase took place on February 13, 2026 at a weighted average price of $10.1333 per share, with individual trade prices ranging from $10.12 to $10.14.

Following this transaction, Camara directly owns 41,983 Cleveland-Cliffs common shares. The filing notes that detailed trade-by-trade pricing within the reported range is available upon request to the company, its shareholders, or the SEC staff.

Insider Trade Summary

Net Buyer: 19,700 shares ($199,626)

Net Buy 1 txn

Insider Camara Edilson

Role Director

Bought 19,700 shs ($200K)

Type	Security	Shares	Price	Value
Purchase	Common Shares	19,700	$10.1333	$200K

Holdings After Transaction: Common Shares — 41,983 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Camara Edilson

(Last) (First) (Middle)

200 PUBLIC SQUARE

SUITE 3300

(Street)

CLEVELAND OH 44114

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CLEVELAND-CLIFFS INC. [ CLF ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/13/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares	02/13/2026		P		19,700	A	$10.1333(1)	41,983	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported in column four is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $10.12 to $10.14, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the Staff of the Securities and Exchange Commission, upon request, with full information regarding the number of shares purchased at each separate price within this range.

Remarks:

	/s/ James D. Graham by Power of Attorney	02/13/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Cleveland-Cliffs (CLF) report for Edilson Camara?

Cleveland-Cliffs reported that director Edilson Camara purchased 19,700 common shares in an open-market transaction. The trade occurred on February 13, 2026, reflecting a direct increase in his equity stake in the company.

At what price did Edilson Camara buy Cleveland-Cliffs (CLF) shares?

Edilson Camara bought Cleveland-Cliffs shares at a weighted average price of $10.1333 per share. Individual trades were executed in multiple transactions, with prices ranging from $10.12 to $10.14, according to the Form 4 disclosure.

How many Cleveland-Cliffs (CLF) shares does Edilson Camara own after this trade?

After the reported transaction, Edilson Camara beneficially owns 41,983 Cleveland-Cliffs common shares directly. This total reflects his holdings immediately following the February 13, 2026 open-market purchase of 19,700 additional shares disclosed in the Form 4.

What does the Form 4 say about how the Cleveland-Cliffs (CLF) trade was executed?

The Form 4 describes the transaction as an open-market purchase coded as “P.” It notes that the 19,700 shares were acquired in multiple transactions across a price range of $10.12 to $10.14 on February 13, 2026.

Can investors see the exact trade prices for each Cleveland-Cliffs (CLF) lot Camara purchased?

Yes. The footnote states the reporting person will provide full information on the number of shares purchased at each separate price within the $10.12 to $10.14 range to the issuer, any security holder, or SEC staff upon request.