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Steel Dynamics (STLD) SVP sells 4,825 shares in open-market trades

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Steel Dynamics Senior Vice President Miguel Alvarez sold 4,825 shares of common stock in open-market transactions. The sales occurred on April 23, 2026 at weighted average prices of $225.11, $226.36 and $227.82 per share, with actual trades executed within narrow price ranges.

After these transactions, Alvarez directly owns 122,257 shares of Steel Dynamics common stock. The filing notes that detailed trade-by-trade price information within each reported range is available upon request from the company, its securityholders, or the SEC staff.

Positive

  • None.

Negative

  • None.
Insider Alvarez Miguel
Role Senior Vice President
Sold 4,825 shs ($1.09M)
Type Security Shares Price Value
Sale Common Stock 3,825 $225.11 $861K
Sale Common Stock 300 $226.36 $68K
Sale Common Stock 700 $227.82 $159K
Holdings After Transaction: Common Stock — 123,257 shares (Direct, null)
Footnotes (1)
  1. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $225.00 to $225.53, inclusive. The reporting person undertakes to provide to Steel Dynamics, Inc., any securityholder of Steel Dynamics, Inc. or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (1) to this Form 4. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $226.13 to $226.81, inclusive. The reporting person undertakes to provide to Steel Dynamics, Inc., any securityholder of Steel Dynamics, Inc. or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (2) to this Form 4. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $227.57 to $228.38, inclusive. The reporting person undertakes to provide to Steel Dynamics, Inc., any securityholder of Steel Dynamics, Inc. or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (3) to this Form 4.
Shares sold 4,825 shares Total common stock sold on April 23, 2026
Sale price (block 1) $227.82 per share Weighted average price for 700-share sale
Sale price (block 2) $226.36 per share Weighted average price for 300-share sale
Sale price (block 3) $225.11 per share Weighted average price for 3,825-share sale
Shares owned after transactions 122,257 shares Direct common stock holdings after April 23, 2026 sales
weighted average price financial
"The price reported in column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
open-market sale financial
"transaction_action": "open-market sale""
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
Form 4 regulatory
"within the ranges set forth in footnote (1) to this Form 4."
Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.
Senior Vice President financial
"officer_title": "Senior Vice President""
A senior vice president is a high-ranking executive within a company who oversees large parts of the organization and helps shape its overall strategy. They are often just below top leadership, making important decisions that can impact the company's success. For investors, this role indicates a person with significant responsibility and influence, which can affect the company's stability and growth prospects.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
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*
Alvarez Miguel
(Last)(First)(Middle)
7575 W. JEFFERSON BLVD.
(Street)
FORT WAYNE INDIANA 46804
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
STEEL DYNAMICS INC [ STLD ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
Senior Vice President
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/23/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Common Stock04/23/2026S3,825D$225.11(1)123,257D
Common Stock04/23/2026S300D$226.36(2)122,957D
Common Stock04/23/2026S700D$227.82(3)122,257D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $225.00 to $225.53, inclusive. The reporting person undertakes to provide to Steel Dynamics, Inc., any securityholder of Steel Dynamics, Inc. or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (1) to this Form 4.
2. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $226.13 to $226.81, inclusive. The reporting person undertakes to provide to Steel Dynamics, Inc., any securityholder of Steel Dynamics, Inc. or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (2) to this Form 4.
3. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $227.57 to $228.38, inclusive. The reporting person undertakes to provide to Steel Dynamics, Inc., any securityholder of Steel Dynamics, Inc. or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (3) to this Form 4.
/s/ Miguel Alvarez04/24/2026
** Signature of Reporting PersonDate
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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Steel Dynamics (STLD) report for Miguel Alvarez?

Steel Dynamics reported that Senior Vice President Miguel Alvarez sold 4,825 shares of common stock in open-market transactions. The trades occurred on April 23, 2026, at weighted average prices between about $225 and $228 per share, reducing but not eliminating his direct share ownership.

At what prices did Miguel Alvarez sell Steel Dynamics (STLD) shares?

Miguel Alvarez’s reported sale prices were weighted averages of $225.11, $226.36 and $227.82 per share. Each average reflects multiple trades executed within narrow ranges between roughly $225.00 and $228.38, as disclosed in the transaction footnotes for this Form 4 filing.

How many Steel Dynamics (STLD) shares does Miguel Alvarez hold after the sale?

After the reported sales, Miguel Alvarez directly holds 122,257 shares of Steel Dynamics common stock. This post-transaction balance reflects all three April 23, 2026 open-market sales combined and represents his remaining direct ownership position as disclosed in the Form 4.

What is Miguel Alvarez’s role at Steel Dynamics (STLD) in this Form 4?

In this Form 4, Miguel Alvarez is identified as a Senior Vice President of Steel Dynamics. His officer status means these transactions are insider trades that must be reported, providing investors transparency into equity activity by a key company executive.

Were Miguel Alvarez’s Steel Dynamics (STLD) trades single sales or multiple executions?

Each reported price in the Form 4 is a weighted average reflecting multiple executions. The filing explains that individual trades occurred within tight ranges around each average price, and detailed breakdowns are available upon request from Steel Dynamics, its securityholders, or SEC staff.