CLEVELAND-CLIFFS INC. — Director's Dealing 2021

Aug 20, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CLEVELAND-CLIFFS INC. (CLF)
CIK: 0000764065
Period of Report: 2021-08-20

Reporting Person: GONCALVES LOURENCO (Director, Chairman, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-08-20	Common Shares	M	250000	$13.83	Acquired	4598592	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-08-20	Employee Stock Options (right-to-buy)	$13.83	M	250000	Disposed	2021-11-17	Common Shares (250000.0)	Direct

Footnotes

F1: This transaction represents the exempt exercise of compensatory stock options, the expiration date of which is November 17, 2021. The Reporting Person is exercising these stock options with cash and holding all 250,000 shares to avoid forfeiture of such stock options at their upcoming expiration.

F2: The option vested in three equal annual installments beginning on December 31, 2015.