CLEVELAND-CLIFFS INC. — Director's Dealing 2020

Jan 27, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CLEVELAND-CLIFFS INC. (CLF)
CIK: 0000764065
Period of Report: 2020-01-23

Reporting Person: Cebula R Christopher (VP, Corporate Controller & CAO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-01-23	Common Shares	A	14529	—	Acquired	88261.6468	Direct
2020-01-23	Common Shares	F	7916	$7.45	Disposed	80345.6468	Direct

Footnotes

F1: Reflects a payout of performance shares for the 2017-2019 performance period earned under the Issuer's 2015 Equity and Incentive Compensation Plan, as amended.

F2: Reflects the mandatory surrender of 5,180 shares underlying performance shares and 2,736 shares underlying restricted stock units in payment of the related tax liability incurred on January 23, 2020.