Maurice Harapiak - 10 Dec 2021 Form 4 Insider Report for CLEVELAND-CLIFFS INC. (CLF)

Role: EVP, HR & Chief Admin Officer
Signature: /s/ James D. Graham by Power of Attorney
Issuer symbol: CLF
Transactions as of: 10 Dec 2021
Net transactions value: $0
Form type: 4
Filing time: 13 Dec 2021, 08:19:28 UTC
Next filing: 06 Jan 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CLF	Common Shares	Options Exercise	$195,457	+25,384	+6.5%	$7.70	415,153	10 Dec 2021	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CLF	Employee Stock Options (right-to-buy)	Options Exercise	$195,457	-25,384	-100%	$7.70	0	10 Dec 2021	Common Shares	25,384	$7.70	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	This transaction represents the exempt exercise of compensatory stock options. The Reporting Person is exercising these stock options with cash and holding all 25,384 shares.