Steel Dynamics (STLD) SVP awarded 16,479 shares, 7,232 withheld

Rhea-AI Filing Summary

Steel Dynamics Inc. Senior Vice President Christopher A. Graham received a grant of 16,479 shares of Common Stock on March 13, 2026 under the company’s 2023 Equity Incentive Plan. This is a stock award from the issuer, not an open-market purchase.

On the same date, 7,232 shares were withheld by the company at a price of $182.19 per share to cover his tax liability related to the award. After these compensation-related transactions, Graham directly holds 77,747 shares of Steel Dynamics common stock.

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

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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^*

Graham Christopher A

(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)
	Senior Vice President

3. Date of Earliest Transaction (Month/Day/Year)
03/13/2026

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	03/13/2026		A		16,479(1)	A	$0	84,979	D
Common Stock	03/13/2026		F		7,232(2)	D	$182.19	77,747	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. Acquisition from Issuer: Shares awarded under Long-Term Incentive Program adopted by Compensation Committee composed of three or more independent non-employee directors pursuant to the Company's 2023 Equity Incentive Plan approved by Compensation Committee and Stockholders and exempt from Section 16(b) of Exchange Act pursuant to Rule 16b-3(d).

2. Disposition to Issuer: Shares withheld by Issuer in payment of reporting person's withholding tax liability in connection with such person's receipt or vesting of an equity security, and either approved in advance by Compensation Committee or mandated by the express terms of the Plan and exempt from Section 16(b) of Exchange Act in accordance with Exchange Act Rule 16b-3(e).

	/s/ Christopher A. Graham	03/13/2026
	** 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).
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FAQ

What did Steel Dynamics (STLD) disclose about Christopher A. Graham’s latest Form 4?

Steel Dynamics reported that Senior Vice President Christopher A. Graham received a stock grant of 16,479 common shares on March 13, 2026. This award came directly from the company under its equity incentive plan and was not an open-market purchase or sale.

How many Steel Dynamics shares were granted to Christopher A. Graham in this Form 4?

Christopher A. Graham was granted 16,479 shares of Steel Dynamics common stock on March 13, 2026. The shares were awarded under the company’s 2023 Equity Incentive Plan as part of its long‑term incentive program approved by the compensation committee and stockholders.

Why were some of Christopher A. Graham’s Steel Dynamics shares disposed of in this filing?

The filing shows 7,232 shares were withheld by Steel Dynamics at $182.19 per share to cover Graham’s withholding tax obligations. This tax-withholding disposition is a transfer back to the issuer and not an open-market sale, occurring in connection with the equity award.

How many Steel Dynamics shares does Christopher A. Graham hold after these transactions?

After the March 13, 2026 grant and related tax withholding, Christopher A. Graham directly holds 77,747 shares of Steel Dynamics common stock. This figure reflects his updated ownership position following the compensation-related award and the shares returned to the company for taxes.

Is Christopher A. Graham’s Form 4 transaction at Steel Dynamics a market trade?

No, the Form 4 transactions are compensation-related. Graham received 16,479 shares as an equity award from Steel Dynamics, and 7,232 shares were withheld by the company to satisfy tax liabilities, meaning there was no open-market buying or selling activity disclosed.