Steel Dynamics (STLD) director granted 712 deferred stock units as equity award

Rhea-AI Filing Summary

DOLAN TRACI M reported acquisition or exercise transactions in this Form 4 filing.

Steel Dynamics Inc. director Traci M. Dolan received a stock-based award of 712 common shares-equivalent on account of her director retainer. The award was issued as deferred stock units under the company’s 2023 Equity Incentive Plan and is treated as directly owned common stock.

After this grant, Dolan directly owns 58,868 shares of Steel Dynamics common stock. The deferred stock units vest in four equal installments: one-quarter on August 31, 2026, one-quarter on November 30, 2026, one-quarter on February 28, 2027, and one-quarter on May 31, 2027.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider DOLAN TRACI M

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	712	$0.00	--

Holdings After Transaction: Common Stock — 58,868 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Shares granted: 712 shares Price per share for grant: $0.00 per share Shares owned after transaction: 58,868 shares +4 more

7 metrics

Shares granted 712 shares Deferred stock units granted to director on June 1, 2026

Price per share for grant $0.00 per share Compensation grant, not market purchase or sale

Shares owned after transaction 58,868 shares Director’s direct holdings following the award

First vesting installment 1/4 of DSUs Vests on August 31, 2026

Second vesting installment 1/4 of DSUs Vests on November 30, 2026

Third vesting installment 1/4 of DSUs Vests on February 28, 2027

Fourth vesting installment 1/4 of DSUs Vests on May 31, 2027

Key Terms

deferred stock units (DSUs), 2023 Equity Incentive Plan, Section 16(b), Rule 16b-3(d)(1) and (3)

4 terms

deferred stock units (DSUs) financial

"Issued as deferred stock units (DSUs) in connection with reporting person's retainer as a director"

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.

2023 Equity Incentive Plan financial

"in connection with reporting person's retainer as a director under the Company's 2023 Equity Incentive Plan"

Section 16(b) regulatory

"and exempt from Section 16(b) 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

"and exempt from Section 16(b) by virtue of Rule 16b-3(d)(1) and (3)"

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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
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^*

DOLAN TRACI M

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/01/2026		A		712(1)	A	$0	58,868	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. Issued as deferred stock units (DSUs) in connection with reporting person's retainer as a director under the Company's 2023 Equity Incentive Plan and exempt from Section 16(b) by virtue of Rule 16b-3(d)(1) and (3). These DSUs are reportable, however, 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 common stock. See Lincoln National Corp. (March 20, 1992) (Q.3). The DSUs vest as follows: 1/4 on 8/31/2026, 1/4 on 11/30/2026, 1/4 on 2/28/2027 and 1/4 on 5/31/2027.

	/s/ Theresa E. Wagler by Power of Attorney	06/01/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did Steel Dynamics (STLD) director Traci Dolan report in this Form 4?

Director Traci M. Dolan reported receiving 712 shares-equivalent of Steel Dynamics common stock as a stock-based award. These were granted as deferred stock units tied to her director retainer under the 2023 Equity Incentive Plan and are treated as directly owned shares.

How many Steel Dynamics (STLD) shares does Traci Dolan hold after this transaction?

Following the reported grant, Traci M. Dolan directly owns 58,868 shares of Steel Dynamics common stock. This total includes the 712 shares-equivalent just awarded as deferred stock units under the company’s 2023 Equity Incentive Plan for her service as a director.

Was Traci Dolan’s Steel Dynamics (STLD) Form 4 a market purchase or sale?

The Form 4 shows a grant or award acquisition, not a market trade. Dolan received 712 shares-equivalent at a price of $0.00 per share as compensation in deferred stock units, rather than buying or selling shares on the open market.

How are the deferred stock units (DSUs) for Steel Dynamics (STLD) director Traci Dolan structured?

The DSUs are payable solely in Steel Dynamics common stock when settled, so they are reported as directly owned shares. They vest in four equal installments on August 31, 2026, November 30, 2026, February 28, 2027, and May 31, 2027, subject to plan terms.

Under what plan were Traci Dolan’s Steel Dynamics (STLD) DSUs granted?

The deferred stock units were granted under Steel Dynamics’ 2023 Equity Incentive Plan as part of Dolan’s director retainer. The filing notes that the award is exempt from Section 16(b) short-swing profit rules under Rule 16b-3(d)(1) and (3) of the securities regulations.