EVP & COO Smith Clifford T sold 200,000 shares at $10.46; stock down 24.6% in 30 days, company unprofitable with -3.0% revenue growth.
Smith Clifford T, EVP & Chief Operating Officer, sold 200,000 shares (200.0K shares) at $10.46 on 2026-02-17, reducing his holdings from 760,529 shares to 560,529 shares (-26.3% reduction). The sale occurred as Cleveland-Cliffs faced significant operational headwinds: the company reported a net loss of -$251,000,000 over its most recent full fiscal year, annual revenue declined -3.0% year-over-year, and the stock has fallen -24.6% over the 30 days prior to this filing. At the transaction price of $10.46, the stock was already -34.8% from its 52-week high of $16.18. Across his cross-ticker history, this insider's prior sells were well-timed 100% of the time at the 90-day mark, including a prior sale at CLF on 2024-03-06 that returned -18.3% over 90 days (a favorable outcome for a seller). The scale of this disposition—liquidating over one quarter of his holdings amid deteriorating fundamentals and downward price momentum—warrants attention given his operational responsibilities and the demonstrated pattern of favorable sell timing.