Steel Dynamics (STLD) VP Matthew Bell granted 609 shares, 58 withheld for taxes

Rhea-AI Filing Summary

Steel Dynamics, Inc. vice president Matthew Lane Bell reported stock-based compensation activity. On February 2, 2026, he was awarded 609 shares of common stock at $0 under the 2018 Executive Incentive Plan, increasing his directly held stake to 1,299 shares.

On the same date, 58 shares of common stock were withheld at $179.57 per share to cover withholding taxes tied to the vesting of a prior equity award, leaving 1,241 directly held shares. He also indirectly holds 17 shares through a Roth IRA. The incentive award vests in three equal annual installments.

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^*

Bell Matthew Lane

(Last) (First) (Middle)

7575 W. JEFFERSON BLVD.

(Street)

FORT WAYNE IN 46804

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
STEEL DYNAMICS INC [ STLD ]

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

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

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

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	02/02/2026		A		609(1)	A	$0	1,299	D
Common Stock	02/02/2026		F		58(2)	D	$179.57	1,241	D
Common Stock								17	I	By Roth IRA

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. Shares awarded pursuant to 2018 Executive Incentive Plan approved by Board of Directors and Stockholders and exempt from Section 16(b) of Exchange Act pursuant to Rule 16b-3 thereunder. One-third of shares granted vest on date of grant, one-third vest one year from grant, and final one-third vest two years from grant.

2. Payment of withholding tax liability by issuer's withholding of securities incident to the reporting person's vesting of a security in accordance with Rule 16b-3.

	/s/ Matthew Lane Bell	02/03/2026
	** 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.
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FAQ

What insider transaction did Steel Dynamics (STLD) report for Matthew Lane Bell?

The company reported that vice president Matthew Lane Bell received an award of 609 Steel Dynamics (STLD) common shares on February 2, 2026. These shares were granted at $0 under the company’s 2018 Executive Incentive Plan as stock-based compensation.

How many Steel Dynamics (STLD) shares does Matthew Lane Bell hold after this Form 4?

After the reported transactions, Matthew Lane Bell directly owns 1,241 Steel Dynamics (STLD) common shares. He also has an additional 17 shares held indirectly through a Roth IRA, reflecting both his incentive grant and tax withholding activity.

What is the vesting schedule for Matthew Lane Bell’s 609-share Steel Dynamics (STLD) award?

The 609-share award vests in three equal parts. One-third vests on the grant date, another third vests one year after the grant, and the final third vests two years after the grant, as described in the incentive plan.

Why were 58 Steel Dynamics (STLD) shares withheld from Matthew Lane Bell?

The filing states that 58 shares of Steel Dynamics (STLD) common stock were withheld at $179.57 per share. This was to pay the withholding tax liability related to the vesting of an equity award, in accordance with Rule 16b-3.

What compensation plan governs Matthew Lane Bell’s Steel Dynamics (STLD) stock grant?

The stock grant was made under the 2018 Executive Incentive Plan, which was approved by the company’s Board of Directors and stockholders. The filing notes the transaction is exempt from Section 16(b) of the Exchange Act under Rule 16b-3.

Does Matthew Lane Bell have indirect ownership of Steel Dynamics (STLD) shares?

Yes. In addition to his directly held shares, Matthew Lane Bell has 17 Steel Dynamics (STLD) common shares reported as held indirectly through a Roth IRA. This is disclosed separately from his direct holdings in the Form 4.