RYI Insider Update: Dividend-Equivalent RSUs Granted to COO Burbach

Rhea-AI Filing Summary

Ryerson Holding Corporation (RYI) – Form 4 insider filing

Chief Operating Officer Michael Burbach reported three separate awards of dividend-equivalent restricted stock units (RSUs) on 18 Jun 2025. These RSUs automatically accumulate when cash dividends are paid on previously granted, unvested RSUs and carry no cash cost to the insider.

• 37.201 RSUs tied to the March 31 2023 grant; vesting 31 Mar 2026.
• 51.974 RSUs tied to the March 31 2024 grant; vesting 31 Mar 2026-2027.
• 20.222 RSUs tied to the March 31 2025 grant; vesting 31 Mar 2026-2028.

Total additional RSUs: 109.397, increasing Burbach’s direct holdings within each referenced award tranche to 4,116.411; 5,750.995; and 2,237.529 units, respectively. No common shares were sold, and the transaction code is “A” (acquired) with a stated price of $0, indicating purely stock-settled, dividend-equivalent accruals.

The filing is routine, aligns management incentives with shareholders, and does not materially change Ryerson’s share count or insider ownership structure.

Insights

Corporate Governance Expert

TL;DR: Routine dividend-equivalent RSUs; no cash trades; neutral impact.

The Form 4 shows automatic accrual of 109.397 RSUs to COO Michael Burbach. Because these units stem from previously disclosed grants, there is no change to Ryerson’s fully-diluted share count beyond the de minimis incremental shares already contemplated in equity-compensation plans. Absence of dispositions suggests continued insider confidence, but the low magnitude (<0.001% of shares outstanding) renders the event immaterial for valuation or governance risk. Investors should treat this as standard maintenance reporting rather than an indicator of management sentiment.

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^*

Burbach Michael

(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)
	Chief Operating Officer

3. Date of Earliest Transaction (Month/Day/Year)
06/18/2025

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		37.201(2)		(3)	(3)	Common Stock	37.201	$0	4,116.411	D
Restricted Stock Units	(1)	06/18/2025		A		51.974(2)		(4)	(4)	Common Stock	51.974	$0	5,750.995	D
Restricted Stock Units	(1)	06/18/2025		A		20.222(2)		(5)	(5)	Common Stock	20.222	$0	2,237.529	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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