1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security |
5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
Date Exercisable |
Expiration Date |
Title |
Amount or Number of Shares |
Retention Units 2007-2009
|
Â
(2)
|
Â
(2)
|
Common Shares
|
600
|
$
(3)
|
D
|
Â
|
Retention Units 2008-2010
|
Â
(4)
|
Â
(4)
|
Common Shares
|
800
|
$
(3)
|
D
|
Â
|
Retention Units 2009-2011
|
Â
(5)
|
Â
(5)
|
Common Shares
|
1,225
|
$
(3)
|
D
|
Â
|
* |
If the form is filed by more than one reporting person, see Instruction 5(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). |
(1) |
The number of securities held by the reporting person consists of 18,604 common shares previously acquired through the Cleveland-Cliffs Inc 1992 Incentive Equity Plan (as Amended and Restated May 13, 1997). |
(2) |
Retention Units granted to Reporting Person under the Cleveland-Cliffs Inc 2007 Incentive Equity Plan ("2007 Plan") covering the period of January 1, 2007 to December 31, 2009 (Retention Period). Retention units are paid out to the Reporting Person in cash based on the market value price of the Common Shares of the Issuer on the last day of the Retention Period. |
(3) |
Convertible into Common Shares on a 1-for-1 basis. |
(4) |
Retention Units granted to Reporting Person under the 2007 Plan covering the period of January 1, 2008 to December 31, 2010 (Retention Period). Retention units are paid out to the Reporting Person in cash based on the market value price of the Common Shares of the Issuer on the last day of the Retention Period. |
(5) |
Retention Units granted to Reporting Person under the 2007 Plan covering the period of January 1, 2009 to December 31, 2011 (Retention Period). Retention units are paid out to the Reporting Person in cash based on the market value price of the Common Shares of the Issuer on the last day of the Retention Period. |