Director Michael Siegal gains 1.83M Ryerson (RYI) shares in Olympic Steel merger

Rhea-AI Filing Summary

Ryerson Holding Corp director Michael D. Siegal reported acquiring 1,825,226 shares of Ryerson common stock on February 13, 2026. The Form 4 shows this as a non-cash acquisition at a price of $0.00 per share, held directly after the transaction.

According to the footnote, Siegal received these shares in connection with the merger between Olympic Steel, Inc. and Ryerson. He exchanged 1,067,072 Olympic Steel shares, which were cancelled and converted into the right to receive 1.7105 Ryerson shares for each Olympic Steel share, with cash paid instead of fractional shares.

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

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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^*

SIEGAL MICHAEL D

(Last) (First) (Middle)

C/O RYERSON HOLDING CORPORATION

227 W. MONROE ST., 27TH FLOOR

(Street)

CHICAGO IL 60606

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Ryerson Holding Corp [ RYI ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
02/13/2026

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

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

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

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 Stock (par value $0.01 per share)	02/13/2026		A		1,825,226	A	(1)	1,825,226	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. The Reporting Person received 1,825,226 shares of the Issuer's common stock in exchange for 1,067,072 shares of common stock, without par value, of Olympic Steel, Inc. ("Olympic Steel") in connection with the merger between Olympic Steel and the Issuer (the "Merger") pursuant to the terms of the Agreement and Plan of Merger, dated as of October 28, 2025 (the "Merger Agreement"), by and among the Issuer, Olympic Steel and Crimson MS Corp. In accordance with the Merger Agreement, each share of Olympic Steel's common stock was cancelled and converted into the right to receive 1.7105 shares of the Issuer's common stock, with cash paid in lieu of fractional shares.

	s/ Camilla Rykke Merrick, attorney-in-fact	02/13/2026
	** Signature of Reporting Person	Date
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FAQ

What insider transaction did RYI director Michael D. Siegal report?

Michael D. Siegal reported acquiring 1,825,226 shares of Ryerson Holding Corp common stock. The shares were received on February 13, 2026 and are held directly, according to the Form 4 insider transaction filing.

How did Michael D. Siegal acquire 1,825,226 RYI shares?

Siegal acquired 1,825,226 Ryerson shares through a share exchange in a merger. He surrendered 1,067,072 Olympic Steel shares, which were cancelled and converted into Ryerson stock under the merger agreement.

What was the exchange ratio between Olympic Steel and RYI shares in this Form 4?

Each share of Olympic Steel common stock was converted into the right to receive 1.7105 shares of Ryerson common stock. Fractional share amounts were settled in cash instead of issuing partial Ryerson shares.

Was cash paid to Michael D. Siegal for his RYI share acquisition?

No cash price was paid for the Ryerson shares themselves; the Form 4 lists a price of $0.00 per share. The footnote states that cash was paid only in lieu of fractional shares created by the exchange ratio.

What merger is referenced in Michael D. Siegal’s RYI Form 4 filing?

The Form 4 references a merger between Olympic Steel, Inc. and Ryerson Holding Corp. The transaction was carried out under an Agreement and Plan of Merger dated October 28, 2025, involving Olympic Steel, Ryerson, and Crimson MS Corp.

Is Michael D. Siegal’s ownership in RYI direct or indirect after this transaction?

The filing shows direct ownership of all 1,825,226 Ryerson shares following the transaction. The ownership code is listed as “D” for direct, and no indirect ownership structure is indicated in the footnotes.