Steel Dynamics (STLD) director granted 125 share units via plan award

Rhea-AI Filing Summary

Steel Dynamics, Inc. director Traci M. Dolan reported acquiring 125 shares of common stock on 01/09/2026 at a price of $0 per share. These shares reflect common stock underlying additional deferred stock units issued as dividend equivalents in connection with the director retainer under the company’s 2023 Equity Incentive Plan and its dividend reinvestment features.

Following this transaction, Dolan beneficially owns 58,036 shares of Steel Dynamics common stock directly, which includes shares resulting from the reinvestment of dividends on underlying deferred stock units.

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^*

DOLAN TRACI M

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
01/09/2026

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	01/09/2026		A		125(1)(2)	A	$0	58,036(3)	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 the number of shares of common stock underlying additional deferred stock units (DSUs) issued to the reporting person as a dividend equivalent, in connection with this person's retainer as a director under the Company's 2023 Equity Incentive Plan (the "Plan"). This transaction is exempt from both the reporting requirements of Section 16(a), including Rule 16a-11, and the provisions of Section 16(b), by virtue of this dividend reinvestment feature of the Plan and the Company's existing Dividend Reinvestment Plan, as well as being exempt from Section 16(b) independently by virtue of Rule 16b-3(d)(1) and (3).

2. Reportable as directly owned shares of common stock, rather than as a derivative security in Table II, because any and all underlying DSUs are payable, at such time as they are to be settled, solely in shares of common stock. (See Lincoln National Corp. (March 20, 1992) Q.3).

3. Includes shares resulting from reinvestment of dividends on any underlying DSUs included in this total.

	/s/ Theresa E. Wagler by Power of Attorney	01/12/2026
	** 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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FAQ

What insider transaction did STLD director Traci M. Dolan report?

Director Traci M. Dolan reported acquiring 125 shares of Steel Dynamics, Inc. common stock on 01/09/2026 at a price of $0 per share.

How did Traci M. Dolan receive the 125 Steel Dynamics (STLD) shares?

The 125 shares represent common stock underlying additional deferred stock units issued as dividend equivalents in connection with Dolan’s director retainer under the company’s 2023 Equity Incentive Plan and its dividend reinvestment features.

How many Steel Dynamics (STLD) shares does Traci M. Dolan own after this transaction?

After the reported acquisition, Traci M. Dolan beneficially owns 58,036 shares of Steel Dynamics common stock directly.

Are the deferred stock units for the Steel Dynamics director settled in stock or cash?

The filing states that the underlying deferred stock units are payable, when settled, solely in shares of common stock, which is why the holdings are reported as directly owned common shares.

Is the reported Steel Dynamics (STLD) insider transaction part of a compensation plan?

Yes. The additional shares arise from deferred stock units and dividend equivalents tied to the director’s retainer under Steel Dynamics’ 2023 Equity Incentive Plan and the company’s Dividend Reinvestment Plan.

Does the Steel Dynamics director transaction involve any cash payment?

The reported acquisition price is $0 per share, indicating that the 125 shares were issued as part of equity and dividend-related compensation rather than a cash purchase.