Steel Dynamics director acquires 7 dividend shares
The underlying DSUs are payable solely in common stock when settled, and are reported as direct common-stock ownership.
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Form Type
4
Rhea-AI Filing Summary
Steel Dynamics Inc. director Luis Manuel Sierra acquired 7 shares of common stock on October 9, 2026. The shares reflect additional deferred stock units (DSUs) issued as a dividend equivalent in connection with his director retainer under the 2023 Equity Incentive Plan. His reported direct holdings afterward were 11,530 shares, including shares resulting from dividend reinvestment on underlying DSUs.
Insider Trade Summary
Grant/Award: 7 shares
Grant/Award
1 txn
Insider
Sierra Luis Manuel
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock F1, F2, F3 | 7 | $0.00 | $0.00 |
Holdings After Transaction:
Common Stock — 11,530 shares (Direct)
Footnotes (3)
- F1. 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).
- F2. 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).
- F3. Includes shares resulting from reinvestment of dividends on any underlying DSUs included in this total.
Key Figures
Shares acquired: 7 shares
Reported direct holdings after transaction: 11,530 shares
Reported price per share: $0.0000 per share
+1 more
4 metrics
Shares acquired
7 shares
October 9, 2026; dividend-equivalent DSUs
Reported direct holdings after transaction
11,530 shares
Includes shares resulting from reinvestment of dividends on underlying DSUs
Reported price per share
$0.0000 per share
Acquisition of shares underlying additional DSUs
Transaction date
October 9, 2026
Common stock acquisition
Key Terms
deferred stock units (DSUs), dividend equivalent, Dividend Reinvestment Plan, Section 16(b)
4 terms
deferred stock units (DSUs) financial
"additional deferred stock units (DSUs) issued as a dividend equivalent"
Deferred stock units (DSUs) are a form of long-term pay that promises an employee or director future company shares or cash equal to the share value at a later date, usually after leaving the company or at a set vesting time. Think of them as a delayed paycheck tied to the stock: they align recipients’ interests with long-term share performance and matter to investors because they create potential future dilution and signal how management is rewarded and incentivized.
dividend equivalent financial
"issued as a dividend equivalent"
A dividend equivalent is a payment someone receives that matches the cash dividends paid on a stock, even though they don’t actually hold the shares. It often shows up in stock-based pay or certain derivatives, and matters to investors because it preserves the income value and alters the after-tax return and timing of payouts — think of it like getting a paycheck for the dividends you would have earned if you owned the stock directly.
Dividend Reinvestment Plan financial
"the Company's existing Dividend Reinvestment Plan"
A dividend reinvestment plan lets shareholders automatically use cash dividends to buy more shares of the same company instead of receiving the money. It matters to investors because it turns regular payouts into a steady way to grow ownership and take advantage of compound returns—like having your savings automatically buy additional slices of a pie over time—while often reducing transaction costs and smoothing purchase timing.
Section 16(b) regulatory
"exempt from Section 16(b)"
A federal rule that requires company insiders—like officers, directors and large shareholders—to return any profits made from buying and selling the company’s stock within a six-month window. It matters to investors because it discourages short-term trades that could exploit non-public information and helps protect outside shareholders by creating a simple, enforceable way to recover unfair gains, much like a rule stopping someone from flipping a limited-edition item for quick profit after getting early access.
FAQ
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