Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
STOCK EXCHANGE INFORMATION
Our common shares (ticker symbol CLF) are listed on the NYSE (New York Stock Exchange).
HOLDERS
At February 25, 2025, we had 2,458 shareholders of record.
SHAREHOLDER RETURN PERFORMANCE
The following graph shows changes over the past five-year period in the value of $100 invested in: (1) Cliffs' common shares; (2) S&P 500 Index; (3) S&P Metals and Mining Select Industry Index; and (4) S&P MidCap 400 Index. The values of each investment are based on price change plus reinvestment of all dividends reported to shareholders, based on monthly granularity.
2019 2020 2021 2022 2023 2024
Cleveland-Cliffs Inc. Return % — 77.46 49.52 (26.00) 26.75 (53.97)
Cumulative $ 100.00 177.46 265.34 196.35 248.87 114.55
S&P 500 Index Return % — 18.39 28.68 (18.13) 26.26 25.00
Cumulative $ 100.00 118.39 152.34 124.72 157.47 196.84
S&P Metals and Mining Select Industry Index Return % — 15.97 34.94 13.12 21.51 (4.55)
Cumulative $ 100.00 115.97 156.49 177.02 215.10 205.31
S&P MidCap 400 Index Return % — 13.65 24.73 (13.10) 16.39 13.89
Cumulative $ 100.00 113.65 141.76 123.19 143.38 163.30
43 | CLF 2024 FORM 10-K
Table of Contents
ISSUER PURCHASES OF EQUITY SECURITIES
The following table presents information with respect to repurchases by the Company of our common shares during the periods indicated:
Period Total Number of Shares (or Units) Purchased 1
Average Price Paid per Share
(or Unit) Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs Maximum Number (or Approximate Dollar Value) of Shares (or Units) that May Yet be Purchased Under the Plans or Programs 2
October 1 - 31, 2024 4,592 $ 12.43 — $ 1,375,931,379
November 1 - 30, 2024 353 12.58 — $ 1,375,931,379
December 1 - 31, 2024 730 12.31 — $ 1,375,931,379
Total 5,675 $ 12.42 —
1 All shares were delivered to us to satisfy tax withholding obligations due upon the vesting or payment of stock awards.
2 On April 22, 2024, we announced that our Board of Directors authorized a program to repurchase our outstanding common shares in the open market or in privately negotiated transactions, which may include purchases pursuant to Rule 10b5-1 plans or accelerated share repurchases, up to a maximum of $1.5 billion. We are not obligated to make any repurchases, and the program may be suspended or discontinued at any time. The share repurchase program does not have a specific expiration date.
ITEM 6. [Reserved]
44 | CLF 2024 FORM 10-K
Table of Contents
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.