Steel Dynamics director gets 5-share stock award
Steel Dynamics Inc. director Kenneth W. Cornew received a grant of 5 shares of common stock as a dividend-equivalent award tied to deferred stock units under the company’s 2023 Equity Incentive Plan.
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Form Type
4
Rhea-AI Filing Summary
Steel Dynamics Inc. director Kenneth W. Cornew received a grant of 5 shares of common stock as a dividend-equivalent award tied to deferred stock units under the company’s 2023 Equity Incentive Plan. Following this compensation-related acquisition, he directly holds 36,299 shares of common stock.
Insider Trade Summary
Grant/Award: 5 shares
Grant/Award
1 txn
Insider
Cornew Kenneth W.
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 5 | $0.00 | $0.00 |
Holdings After Transaction:
Common Stock — 36,299 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 granted: 5 shares of common stock
Shares held after transaction: 36,299 shares
Grant price per share: $0.0000 per share
3 metrics
Shares granted
5 shares of common stock
Dividend-equivalent award on deferred stock units on 2026-04-10
Shares held after transaction
36,299 shares
Direct ownership of Steel Dynamics common stock following grant
Grant price per share
$0.0000 per share
Non-cash award under 2023 Equity Incentive Plan
Key Terms
deferred stock units (DSUs), Dividend Reinvestment Plan, Section 16(b), Rule 16b-3(d)(1) and (3), +1 more
5 terms
deferred stock units (DSUs) financial
"underlying additional deferred stock units (DSUs) issued to the reporting person 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 Reinvestment Plan financial
"by virtue of this dividend reinvestment feature of the Plan and 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) independently by virtue of Rule 16b-3(d)(1) and (3)"
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.
Rule 16b-3(d)(1) and (3) regulatory
"being exempt from Section 16(b) independently by virtue of Rule 16b-3(d)(1) and (3)"
2023 Equity Incentive Plan financial
"in connection with this person's retainer as a director under the Company's 2023 Equity Incentive Plan"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Steel Dynamics (STLD) director Kenneth W. Cornew report in this Form 4?
Kenneth W. Cornew reported receiving 5 shares of Steel Dynamics common stock. The shares represent dividend-equivalent awards on deferred stock units under the 2023 Equity Incentive Plan, and are reported as directly owned common stock rather than as derivative securities.
Was Kenneth W. Cornew’s April 2026 Steel Dynamics transaction an open-market stock purchase?
No, the transaction was not an open-market purchase. The 5 shares reflect dividend-equivalent common stock issued on deferred stock units under Steel Dynamics’ 2023 Equity Incentive Plan and Dividend Reinvestment Plan, and were reported at a price per share of 0.0000 on the Form 4.
Why are Kenneth W. Cornew’s deferred stock units reported as directly owned common stock for STLD?
They are reported as directly owned common stock because all underlying deferred stock units are payable solely in Steel Dynamics common shares when settled. As explained in the footnotes, this treatment leads to reporting them in the common stock table rather than as separate derivative securities.
Is Kenneth W. Cornew’s Steel Dynamics Form 4 transaction exempt from certain Section 16 rules?
Yes, the transaction is described as exempt from Section 16(a) reporting requirements and from Section 16(b) under specific SEC rules. The exemption is tied to the dividend reinvestment feature of the company’s plans and the treatment of these dividend-equivalent deferred stock unit awards.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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