Steel Dynamics (NASDAQ: STLD) director logs small dividend stock unit grant

Rhea-AI Filing Summary

Steel Dynamics Inc. director Richard P. Teets Jr. reported the acquisition of 9 shares of common stock on January 9, 2026. These shares represent common stock underlying additional deferred stock units issued as a dividend equivalent in connection with his director retainer under the company’s 2023 Equity Incentive Plan, and were recorded at a price of $0 per share. Following this transaction, he beneficially owned 4,979,888 shares of Steel Dynamics common stock directly, which include shares from dividend reinvestment on existing deferred stock units. He also reported indirect ownership of 93,119 shares held by his spouse and 73,000 shares held by the Teets Family Foundation, where he has voting and investment power.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider TEETS RICHARD P JR

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	9	$0.00	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 4,979,888 shares (Direct); Common Stock — 93,119 shares (Indirect, By spouse)

Footnotes (1)

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). 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). Includes shares resulting from reinvestment of dividends on any underlying DSUs included in this total. Represents securities held by the Teets Family Foundation, a charitable foundation of which the reporting person is a member and director. The reporting person has voting and investment power over all securities owned by the foundation.

Form 4 Insider Transactions: What Each Field Means →

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

OMB APPROVAL

OMB Number:			3235-0287
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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^*

TEETS RICHARD P JR

(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		9(1)(2)	A	$0	4,979,888(3)	D
Common Stock								93,119	I	By spouse
Common Stock								73,000	I	By Teets Family Foundation(4)

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.

4. Represents securities held by the Teets Family Foundation, a charitable foundation of which the reporting person is a member and director. The reporting person has voting and investment power over all securities owned by the foundation.

	/s/ Richard P. Teets, Jr.	01/12/2026
	** Signature of Reporting Person	Date
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.

FAQ

What insider transaction did Steel Dynamics (STLD) disclose for Richard P. Teets Jr.?

The filing shows that director Richard P. Teets Jr. acquired 9 shares of Steel Dynamics Inc. common stock on January 9, 2026, representing dividend-equivalent deferred stock units tied to his director retainer.

At what price were the new Steel Dynamics (STLD) shares reported for Richard P. Teets Jr.?

The 9 newly reported shares of Steel Dynamics common stock tied to dividend-equivalent deferred stock units were recorded at a price of $0 per share.

How many Steel Dynamics (STLD) shares does Richard P. Teets Jr. now own directly?

After the reported transaction, Richard P. Teets Jr. beneficially owned 4,979,888 shares of Steel Dynamics common stock directly, including shares from dividend reinvestment on existing deferred stock units.

What indirect Steel Dynamics (STLD) holdings are associated with Richard P. Teets Jr.?

The filing lists indirect ownership of 93,119 shares of Steel Dynamics common stock held by his spouse, and 73,000 shares held by the Teets Family Foundation, where he has voting and investment power.

Why are the dividend-equivalent shares for Steel Dynamics (STLD) treated as common stock on this Form 4?

The additional deferred stock units are reported as directly owned common stock because any underlying deferred stock units are payable solely in shares of common stock when settled, so they are shown in the non-derivative table.

Under what plan were the additional Steel Dynamics (STLD) shares for Richard P. Teets Jr. issued?

The 9 shares representing dividend-equivalent deferred stock units were issued in connection with his director retainer under the company’s 2023 Equity Incentive Plan, which includes a dividend reinvestment feature.