In 2023, Lourenco Goncalves earned $4.10M in total compensation at Cleveland-Cliffs, including $1.27M salary and $2.43M bonus. Most recently acquired 60,000 shares in May 2024. Currently holds stock worth $527.61M. Has led Cleveland-Cliffs for over 11 years.
Compensation History
Annual executive compensation data for Lourenco Goncalves, including salary, bonuses, and stock awards.
Year
2023
Total Compensation
$4.10M
Salary
$1.27M
Bonus
$2.43M
Other
$398.23K
Salary
$1.27MBoard Justification
The compensation philosophy is designed to align executive pay with company performance, with a significant portion of compensation being performance-based to motivate and retain key executives.
Bonus
$2.43MBoard Justification
Annual Incentive Plan (AIP) bonus based on corporate performance metrics achieved in 2023, paid in March 2024.
Other Compensation
$398.23KBoard Justification
Includes contributions to defined contribution plans, term life insurance, and other perquisites such as personal use of corporate aircraft.
Restricted Stock
Board Justification
No stock awards vested in 2023 as the focus is on cash compensation and performance-based bonuses.
Performance Metrics
The performance metrics for 2023 included Adjusted EBITDA, Fuel Volume, Fuel Margin Contribution, Merchandise Margin Contribution, and Coverage Ratio.
Lourenco Goncalves
CEO of Cleveland-Cliffs
Education
Master's degree in Business Administration from the University of Pennsylvania
Field of Expertise
Business & Management
Sector of Economy
Basic Materials
Born
January 1, 1968 - 57 years ago
CEO of Cleveland-Cliffs for
11 years 4 months (Aug 2014 - Present)
Previous Experience
Unknown
Other Cleveland-Cliffs CEOs
Holdings
Track Lourenco Goncalves's stock holdings and portfolio value over time.
Total Stock Sold
$3.76M
$3.76M
187,136 CLF shares
What if they kept their stock?
If Lourenco Goncalves didn't sell their stock, today they would have:
Extra CLF187,136 shares worth $2.39M.
This is -36.54% and $1.37M less than what they got when they sold the stock.
Insider Trading
Lourenco Goncalves's recent stock transactions, purchases, and sales filed with the SEC.
$1.01M
CLF at $16.76/share
May 1, 2024
Purchase
$3.78M
CLF at $20.19/share
Mar 6, 2024
Sale
229,851 shares
CLF
Feb 21, 2024
Received
137,670 shares
CLF
Jan 3, 2024
Received
$1.50M
CLF at $14.96/share
Apr 27, 2023
Purchase
229,320 shares
CLF
Feb 21, 2023
Received
563,864 shares
CLF
Jan 4, 2023
Received
193,488 shares
CLF
Feb 24, 2022
Received
398,724 shares
CLF
Jan 4, 2022
Received
$988.25K
CLF at $19.77/share
Dec 1, 2021
Purchase
Rivals
Compare Lourenco Goncalves with competitor CEOs and industry peers.