Cleveland-Cliffs director receives 3,487 shares

Rhea-AI Filing Summary

Cleveland-Cliffs Inc. director Jane M. Cronin acquired 3,487 common shares on October 1, 2026; the shares were issued in payment of her fourth-quarter retainer in lieu of cash under the Cleveland-Cliffs Inc. Nonemployee Director Retainer Share Election Program. Cronin elected 100% participation. The shares were reported at $11.47 per share, bringing her directly held position to 81,843 common shares.

Insider Trade Summary

Grant/Award: 3,487 shares

Grant/Award 1 txn

Insider CRONIN JANE M.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Shares F1	3,487	$11.47	$40K

Holdings After Transaction: Common Shares — 81,843 shares (Direct)

Footnotes (1)

1. F1. Reflects the number of common shares issued to the Reporting Person in payment of the Reporting Person's quarterly retainer in lieu of cash for the fourth quarter pursuant to the Reporting Person's election to participate in the Cleveland-Cliffs Inc. Nonemployee Director Retainer Share Election Program. The Reporting Person elected to participate in the Retainer Election Program at 100%.

Key Figures

Common shares acquired: 3,487 shares Reported per-share price: $11.47 per share Direct common shares after transaction: 81,843 shares +1 more

4 metrics

Common shares acquired 3,487 shares October 1, 2026; payment of fourth-quarter retainer

Reported per-share price $11.47 per share Shares issued for the fourth-quarter retainer

Direct common shares after transaction 81,843 shares Jane M. Cronin's reported position

Retainer share election 100% Jane M. Cronin's participation election

Key Terms

Nonemployee Director Retainer Share Election Program, quarterly retainer, in lieu of cash

3 terms

Nonemployee Director Retainer Share Election Program financial

"Cleveland-Cliffs Inc. Nonemployee Director Retainer Share Election Program"

quarterly retainer financial

"in payment of the Reporting Person's quarterly retainer"

in lieu of cash financial

"in payment of the Reporting Person's quarterly retainer in lieu of cash"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many CLF shares did director Jane M. Cronin receive?

Jane M. Cronin received 3,487 common shares on October 1, 2026, issued as payment for her fourth-quarter retainer in lieu of cash. She elected 100% participation in the Cleveland-Cliffs Inc. Nonemployee Director Retainer Share Election Program.

How many CLF shares did Jane M. Cronin hold after the transaction?

Jane M. Cronin directly held 81,843 common shares after the transaction.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/02/2026 - 07:18 PM Accepted by SEC EDGAR 10/02/2026 - 07:17 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

CRONIN JANE M.

(Last) (First) (Middle)

200 PUBLIC SQUARE

SUITE 3300

(Street)

CLEVELAND OHIO 44114

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
CLEVELAND-CLIFFS INC. [ CLF ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares	10/01/2026		A		3,487(1)	A	$11.47	81,843	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Reflects the number of common shares issued to the Reporting Person in payment of the Reporting Person's quarterly retainer in lieu of cash for the fourth quarter pursuant to the Reporting Person's election to participate in the Cleveland-Cliffs Inc. Nonemployee Director Retainer Share Election Program. The Reporting Person elected to participate in the Retainer Election Program at 100%.

Remarks:

	/s/ James D. Graham by Power of Attorney	10/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)