Ryerson (RYI) Form 4: CEO accrues 604.31 RSUs; vesting through 2028
Rhea-AI Filing Summary
Ryerson Holding Corp (RYI) director and President & CEO Edward J. Lehner reported acquisitions on 09/18/2025 of dividend-equivalent rights associated with three separate restricted stock unit awards. The filings show additions of 104.412, 204.232, and 295.666 restricted stock units (RSUs) at $0 price, reflecting accrued dividend equivalents; following these transactions the filings list beneficial ownership amounts of 13,040.261, 25,507.19, and 36,926.71 common shares respectively. The RSUs vest on future dates: the 2023 grant vests March 31, 2026; the 2024 grant vests March 31, 2026 and March 31, 2027; the 2025 grant vests March 31, 2026, March 31, 2027, and March 31, 2028. The Form 4 was signed by an attorney-in-fact on 09/22/2025.
Positive
- Dividend-equivalent RSUs were credited to the CEO/director, increasing his long-term equity stake without cash outlay
- Vesting schedules remain disclosed with clear future dates (March 31, 2026; March 31, 2027; March 31, 2028), preserving alignment with shareholder interests
Negative
- None.
Insights
TL;DR: Routine accrual and vesting of dividend-equivalent RSUs for CEO/director; no cash purchase or sale reported.
The Form 4 documents dividend-equivalent rights credited to existing restricted stock units for the reporting person, treated as acquisitions at $0. These are compensation-related adjustments rather than open-market purchases or sales, and vest across 2026–2028 according to original grant schedules. For governance review, this is consistent with equity-based compensation practices and does not indicate a change in role or an immediate liquidity event.
TL;DR: Equity compensation increased by 604.31 RSUs total via dividend equivalents; vesting remains tied to original award schedules.
The filing lists three separate dividend-equivalent accruals (104.412; 204.232; 295.666 RSUs), which together total 604.31 RSUs credited on 09/18/2025. Each accrual is linked to previously granted RSUs (2023, 2024, 2025 grants) and will vest on specified future dates. This is a non-cash accrual reflecting dividend treatment and preserves the original vesting timeline and retention incentives for the executive.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 104.412 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 204.232 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 295.666 | $0.00 | -- |
Footnotes (1)
- Each restricted stock unit represents a contingent right to receive one share of common stock of Ryerson Holding Corporation (the "Company"). Represents dividend equivalent rights that accrued on the underlying award of restricted stock units. Dividend equivalent rights accrue when and as dividends are paid on the common shares underlying the applicable restricted share units and vest proportionately with and are subject to settlement and expiration upon the same terms as the restricted stock units to which they relate. The dividend equivalent rights accrued on restricted stock units that were granted on March 31, 2023 and outstanding as of September 18, 2025. These unvested restricted stock units, and the dividend equivalent rights related to such unvested restricted stock units, will vest on March 31, 2026. The dividend equivalent rights accrued on restricted stock units that were granted on March 31, 2024 and outstanding as of September 18, 2025. These unvested restricted stock units, and the dividend equivalent rights related to such unvested restricted stock units, will vest on March 31, 2026 and March 31, 2027. The dividend equivalent rights accrued on restricted stock units that were granted on March 31, 2025 and outstanding as of September 18, 2025. These unvested restricted stock units, and the dividend equivalent rights related to such unvested restricted stock units, will vest on March 31, 2026, March 31, 2027 and March 31, 2028.
