Steel Dynamics (STLD) CFO awarded 5,932 restricted stock units in Form 4

Rhea-AI Filing Summary

Wagler Theresa E reported acquisition or exercise transactions in this Form 4 filing.

Steel Dynamics Inc. Executive Vice President and CFO Theresa E. Wagler received an equity award of 5,932 shares of common stock in the form of restricted stock units, granted for no cash consideration under the company’s equity incentive plan.

The restricted stock units vest over four years, with one-third vesting on 02/20/2028, one-third on 02/20/2029, and the final third on 02/20/2030. After each vesting date, the award is to be settled solely in the same number of 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

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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^*

Wagler Theresa E

(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)
	Executive Vice President & CFO

3. Date of Earliest Transaction (Month/Day/Year)
02/20/2026

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	02/20/2026		A		5,932(1)	A	$0	488,287	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. Represents grant of restricted stock units equal to the same number of underlying shares, received as an award under the Issuer's equity incentive plan, for no consideration, and exempt from Section 16(b) by virtue of Rule 16b-3(d)(1) and (3). The restricted units vest over a four year period as follows: 1/3 on 02/20/2028, 1/3 on 02/20/2029 and the final 1/3 on 02/20/2030, following which settlement is to be made solely in the same number of shares of the Issuer's common stock shown in Column 4.

	/s/ Theresa E. Wagler	02/24/2026
	** 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 STLD report for CFO Theresa Wagler?

Steel Dynamics reported that CFO Theresa E. Wagler received an award of 5,932 restricted stock units. These units were granted for no cash consideration under the company’s equity incentive plan and will settle in common stock upon vesting.

Is the Steel Dynamics (STLD) CFO Form 4 a stock purchase or an award?

The Form 4 reflects a stock award, not an open-market purchase. Theresa Wagler received 5,932 restricted stock units granted under Steel Dynamics’ equity incentive plan, with no cash paid for the shares by the executive.

How many shares did the STLD CFO acquire in the latest Form 4 filing?

The CFO of Steel Dynamics acquired 5,932 restricted stock units representing the same number of underlying common shares. This equity award increases her direct stake through time as the units vest and are settled in shares.

What is the vesting schedule for the Steel Dynamics CFO’s 5,932 RSUs?

The 5,932 restricted stock units vest over four years. One-third vests on February 20, 2028, another third on February 20, 2029, and the remaining third on February 20, 2030, after which they settle in common stock.

Did Steel Dynamics (STLD) CFO pay for the 5,932 RSU award reported on Form 4?

No, the CFO did not pay cash for this award. The 5,932 restricted stock units were granted for no consideration as part of Steel Dynamics’ equity incentive plan, consistent with typical executive compensation practices.