CLEVELAND-CLIFFS INC. — Director's Dealing 2016

Jan 5, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CLIFFS NATURAL RESOURCES INC. (CLF)
CIK: 0000764065
Period of Report: 2015-12-31

Reporting Person: Graham James D (EVP, Chief Legal Officer & Sec)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-12-31	Common Shares	F	2646	$1.58	Disposed	115342.792	Direct

Footnotes

F1: Surrender of shares in payment of tax liability incurred on December 31, 2015, the date of restricted share units vesting in three equal annual installments to the Reporting Person granted on January 12, 2015.