Lourenco Goncalves - 05 Jan 2026 Form 4 Insider Report for CLEVELAND-CLIFFS INC. (CLF)

Signature
/s/ James D. Graham by Power of Attorney
Issuer symbol
CLF
Transactions as of
05 Jan 2026
Net transactions value
-$1,111,823
Form type
4
Filing time
07 Jan 2026, 18:54:12 UTC
Previous filing
21 Feb 2025
Next filing
11 Feb 2026

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
GONCALVES LOURENCO Chairman, President & CEO, Director 200 PUBLIC SQUARE, SUITE 3300, CLEVELAND /s/ James D. Graham by Power of Attorney 07 Jan 2026 0001236128

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CLF Common Shares Tax liability $1,111,823 -84,229 -2.7% $13.20 3,015,486 05 Jan 2026 Direct F1
holding CLF Common Shares 0 05 Jan 2026 By 2023 grantor retained annuity trust F2
holding CLF Common Shares 0 05 Jan 2026 By 2024 grantor retained annuity trust F3
holding CLF Common Shares 3,000,000 05 Jan 2026 By 2025 grantor retained annuity trust F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects the mandatory surrender of shares underlying restricted share units in payment of the related tax liability incurred on January 5, 2026 in connection with payout of the restricted share units.
F2 Reflects the exempt change in form of beneficial ownership of all previously-held Issuer common shares since the date of the Reporting Person's last filed Form 4. These Issuer common shares were previously reflected as being held indirectly through the 2023 grantor retained annuity trust.
F3 Reflects the exempt change in form of beneficial ownership of all previously-held Issuer common shares since the date of the Reporting Person's last filed Form 4. These Issuer common shares were previously reflected as being held indirectly through the 2024 grantor retained annuity trust.
F4 Reflects the Reporting Person's exempt contribution of 3,000,000 Issuer common shares to a 2025 grantor retained annuity trust since the date of the Reporting Person's last filed Form 4.