RYI Insider Activity: CAO Reports Automatic RSU Accruals

Rhea-AI Filing Summary

Key takeaway: On 23 June 2025, Ryerson Holding Corporation (ticker RYI) filed a Form 4 disclosing routine equity accruals for its Chief Accounting Officer & Corporate Controller, Molly D. Kannan.

Transaction details

• Date of transaction: 18 June 2025
• Securities involved: Restricted Stock Units (RSUs) stemming from dividend-equivalent rights. These rights automatically accumulate additional RSUs whenever Ryerson pays a cash dividend on the common stock underlying previously granted, unvested RSUs.
• RSUs credited: 18.601, 36.384 and 60.190 units, respectively – a combined 115.175 shares.
• Cost basis: $0 per unit; the accrual occurs under the original award terms rather than an open-market purchase.
• Total derivative holdings post-transaction: 2,058.206; 4,026.001; and 6,660.190 RSUs across the three grant vintages.

Vesting schedule

• 2023 grant & related dividend equivalents vest in full on 31 Mar 2026.
• 2024 grant vest in two tranches on 31 Mar 2026 and 31 Mar 2027.
• 2025 grant vest in three tranches on 31 Mar 2026, 2027 and 2028.

Investor relevance This filing reflects non-market, routine compensation accruals tied to previously disclosed long-term incentive plans. It neither changes insider ownership meaningfully nor signals a directional view on Ryerson’s valuation. No cash changed hands, and the aggregate 115 additional RSUs represent an immaterial fraction of Ryerson’s ~34 million outstanding shares. Consequently, the filing is best viewed as standard administrative disclosure rather than a catalyst for the stock.

Insights

Securities Analyst

TL;DR Routine dividend-equivalent RSU accrual; immaterial share count; no directional signal; neutral impact.

The Form 4 shows Ms. Kannan received 115.175 RSUs at no cost, triggered automatically by Ryerson’s dividend on prior equity awards. Such dividend equivalents are common in executive pay structures and do not involve open-market buying or selling. The post-transaction RSU totals are still de-minimis versus the public float, so dilution risk is negligible. Because the grant schedule and vesting dates were previously disclosed in proxy materials, today’s filing adds no new strategic or financial information for investors. I therefore classify the impact on RYI’s valuation as neutral.

Corporate Governance Specialist

TL;DR Standard Section 16 compliance; confirms ongoing alignment incentives; no governance red flags detected.

The transaction complies with Section 16(a) timely-filing requirements and reflects Ryerson’s practice of crediting dividend-equivalent rights on unvested RSUs. Such mechanisms align executives with shareholder returns by mirroring dividend income while deferring settlement until vesting. No 10b5-1 plan is referenced, implying automatic credit under existing award terms. There are no indications of opportunistic timing, option back-dating, or unusual acceleration clauses. Governance risk therefore remains unchanged, and investors should interpret the filing as administrative rather than strategically significant.

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
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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^*

Kannan Molly 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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CAO & Corporate Controller

3. Date of Earliest Transaction (Month/Day/Year)
03/18/2025

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

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
Restricted Stock Units	(1)	06/18/2025		A		18.601(2)		(3)	(3)	Common Stock	18.601	$0	2,058.206	D
Restricted Stock Units	(1)	06/18/2025		A		36.384(2)		(4)	(4)	Common Stock	36.384	$0	4,026.001	D
Restricted Stock Units	(1)	06/18/2025		A		60.19(2)		(5)	(5)	Common Stock	60.19	$0	6,660.19	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of common stock of Ryerson Holding Corporation (the "Company").

2. 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.

3. The dividend equivalent rights accrued on restricted stock units that were granted on March 31, 2023 and outstanding as of June 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.

4. The dividend equivalent rights accrued on restricted stock units that were granted on March 31, 2024 and outstanding as of June 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.

5. The dividend equivalent rights accrued on restricted stock units that were granted on March 31, 2025 and outstanding as of June 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.

	/s/ Camilla Rykke Merrick, attorney-in-fact	06/23/2025
	** Signature of Reporting Person	Date
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FAQ

What insider activity did Ryerson Holding (RYI) disclose on 23 June 2025?

A Form 4 showing CAO Molly D. Kannan received 115.175 restricted stock units via dividend-equivalent accruals dated 18 June 2025.

How many RSUs did Molly D. Kannan acquire in the latest Form 4?

18.601, 36.384, and 60.190 units, totaling 115.175 RSUs.

Were the RSUs purchased on the open market?

No. They were automatic dividend-equivalent rights credited at a cost of $0 per unit.

When will the newly credited RSUs vest?

Between 31 Mar 2026 and 31 Mar 2028, matching the vesting schedules of the underlying 2023-2025 RSU grants.

Does the filing indicate any change in Ryerson’s outlook or strategy?

No. It is an administrative disclosure of routine equity accruals and carries no strategic implications.