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CLEVELAND-CLIFFS INC. Director's Dealing 2011

Feb 23, 2011

30881_dirs_2011-02-23_dce25681-eb8b-4c6f-8b5c-899498581565.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CLIFFS NATURAL RESOURCES INC. (CLF)
CIK: 0000764065
Period of Report: 2011-02-23

Reporting Person: Baisden Steve R. (VP, Investor Relations & Comm.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-23	Common Stock	A	630	$0.00	Acquired	3543.709	Direct
2011-02-23	Common Stock	F	292	$92.67	Disposed	3251.709	Direct

Footnotes

F1: Reflects a payout of performance shares for the 2008-2010 performance period earned under the Issuer's 2007 Incentive Equity Plan.

F2: Reflects the surrender of 227 performance shares and 65 restricted share units from the 2008-2010 performance period in payment of the related tax liability incurred by the Reporting Person as a result of the award.