Steel Dynamics (STLD) director receives 99 deferred stock units as equity pay

Rhea-AI Filing Summary

Hamann Jennifer L reported acquisition or exercise transactions in this Form 4 filing.

Steel Dynamics Inc. director Jennifer L. Hamann reported an award of 99 shares of common stock equivalents on February 20, 2026. These were issued as deferred stock units under the company’s 2023 Equity Incentive Plan at a stated price of $0.00 per share. Following this grant, she directly owns 4,479 shares reported as common stock equivalents, which will be settled solely in common stock when paid.

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^*

Hamann Jennifer L

(Last) (First) (Middle)

555 RIVERFRONT PLZ #803

(Street)

OMAHA NE 68102

(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)

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

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		99(1)	A	$0	4,479	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. Issued as deferred stock units (DSUs) in connection with reporting person's retainer, as a director, under the Company's 2023 Equity Incentive Plan and exempt from Section 16(b) by virtue of Rule 16b-3(d)(1) and (3). These DSUs are reportable, however, as directly owned shares of common stock, rather than as derivative security in Table II, because any and all underlying DSUs are payable, at such time as they are to be settled, solely in common stock. (See Lincoln National Corp. (March 20, 1992) (Q.3)

	/s/ Theresa E. Wagler by Power of Attorney	02/23/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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** 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 insider transaction did Steel Dynamics (STLD) report for Jennifer L. Hamann?

Steel Dynamics reported that director Jennifer L. Hamann received an award of 99 deferred stock units on February 20, 2026. These units are tied to her director retainer and will be settled solely in common stock under the company’s 2023 Equity Incentive Plan.

How many Steel Dynamics (STLD) shares does Jennifer L. Hamann own after this Form 4?

After the February 20, 2026 award, Jennifer L. Hamann is reported as directly owning 4,479 shares of Steel Dynamics common stock equivalents. This total includes the 99 deferred stock units granted under the 2023 Equity Incentive Plan, which are payable only in common stock when settled.

What is the nature of the stock granted to Steel Dynamics (STLD) director Jennifer L. Hamann?

The grant to Jennifer L. Hamann consists of deferred stock units issued in connection with her director retainer under Steel Dynamics’ 2023 Equity Incentive Plan. These units are reportable as directly owned common stock since they are payable solely in common stock upon settlement, not in cash or other securities.

Was there a purchase price for Jennifer L. Hamann’s Steel Dynamics (STLD) stock award?

No purchase price was paid for this award; the transaction price per share is reported as $0.00. The 99 deferred stock units were issued as compensation under the 2023 Equity Incentive Plan in connection with her service as a director, rather than as an open-market stock purchase.

Is Jennifer L. Hamann’s Steel Dynamics (STLD) award exempt under Section 16(b)?

Yes. The award is described as exempt from Section 16(b) under Rule 16b-3(d)(1) and (3). It was issued as deferred stock units relating to her director retainer, and is structured so that all underlying units are payable solely in Steel Dynamics common stock when settled.