Cleveland-Cliffs EVP and CFO Celso L Jr Goncalves sold 214,308 shares. The transaction occurred on June 5, 2026. The sale generated approximately $2.87 million.
Goncalves sold the shares at an average price of $13.41. This transaction reduced the CFO's ownership by more than 53%. Cleveland-Cliffs' stock fell 6.1% following the disclosure.
Large-scale insider selling by high-level executives can raise concerns about future company performance.