Smith Clifford T. - 05 Jan 2026 Form 4 Insider Report for CLEVELAND-CLIFFS INC. (CLF)

Role: EVP & Chief Operating Officer
Signature: /s/ James D. Graham by Power of Attorney
Issuer symbol: CLF
Transactions as of: 05 Jan 2026
Net transactions value: -$252,648
Form type: 4
Filing time: 07 Jan 2026, 18:54:18 UTC
Previous filing: 21 Feb 2025
Next filing: 18 Feb 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Smith Clifford T	EVP & Chief Operating Officer	200 PUBLIC SQUARE, SUITE 3300, CLEVELAND	/s/ James D. Graham by Power of Attorney	07 Jan 2026	0001510253

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CLF	Common Shares	Tax liability	$252,648	-19,140	-2.5%	$13.20	760,529	05 Jan 2026	Direct	F1, F2
holding	CLF	Common Shares						100,106	05 Jan 2026	By grantor retained annuity trust	F2

* 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 for 99,894 shares received by the Reporting Person from the grantor retained annuity trust in direct holdings, with 100,106 shares remaining in the grantor retained annuity trust, since the date of the Reporting Person's last filed Form 4.