secwatch.observer — SEC 8-K summary
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Issuer:     CLEVELAND-CLIFFS INC. (CLF)
CIK:        0000764065
Form:       8-K
Filed at:   2022-05-06T23:59:59+00:00
Accession:  0000764065-22-000101
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cleveland-Cliffs EVP Maurice Harapiak departs; severance $3.78M lump sum
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- Maurice D. Harapiak terminated without cause as EVP, HR & Chief Admin Officer; separation agreement signed May 5, 2022.
- Receives $3,780,000 lump sum cash severance plus up to 36 months of health insurance premiums.
- Prorated 2022 annual incentive based on full-year results; $45k cash for financial planning.
- Accelerated vesting of 50,628 RSUs (2020 grant); continued vesting of 50,628 target shares; prorated 2021/2022 awards.
- Two-year non-solicitation, non-disclosure, non-disparagement covenants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/764065/000076406522000101/0000764065-22-000101-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/764065/000076406522000101/clf-20220505.htm
  HTML page:      https://secwatch.observer/filing/0000764065-22-000101

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer