CLEVELAND-CLIFFS INC. — Director's Dealing 2018

Apr 26, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CLEVELAND-CLIFFS INC. (CLF)
CIK: 0000764065
Period of Report: 2018-04-24

Reporting Person: Rychel Eric M (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-04-24	Deferred Shares	$	A	13736	Acquired		Common Shares (13736.0)	Direct

Footnotes

F1: The Reporting Person has elected to defer a portion of his 2018 Director Restricted Shares (the "Deferred Shares").

F2: Each Deferred Share is the economic equivalent of one Issuer common share. The Deferred Shares become payable, in cash or common stock, at the election of the Issuer's Governance and Nominating Committee, in accordance with the Reporting Person's deferral election and the terms of the Amended and Restated 2014 Nonemployee Directors' Compensation Plan.