Steel Dynamics SVP reports restricted stock grant and tax withholding

Rhea-AI Filing Summary

Steel Dynamics, Inc. (STLD) reported an insider equity transaction by a Senior Vice President. On 11/21/2025, the officer received a grant of 341 shares of common stock for no cash consideration, structured as restricted stock subject to a two-year holding period. On the same date, 149 shares were surrendered back to the company at $153.11 per share to cover taxes due on the grant. After these transactions, the officer directly owned 66,930 shares of Steel Dynamics common stock.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Graham Christopher A

Role Senior Vice President

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	341	$0.00	--
Tax Withholding	Common Stock	149	$153.11	$23K

Holdings After Transaction: Common Stock — 67,079 shares (Direct)

Footnotes (1)

1. Represents grant of restricted stock, in lieu of restricted stock units because of reporting person's age, for no consideration, and exempt from Section 16(b) by virtue of Rule 16b-3(d)(1) and (3), subject, however, to a two year holding period. Represents disposition to issuer to cover taxes payable upon issuance of shares reported in footnote (1), exempt pursuant to Rule 16b-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^*

Graham Christopher A

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
11/21/2025

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	11/21/2025		A		341(1)	A	$0	67,079	D
Common Stock	11/21/2025		F		149(2)	D	$153.11	66,930	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. Represents grant of restricted stock, in lieu of restricted stock units because of reporting person's age, for no consideration, and exempt from Section 16(b) by virtue of Rule 16b-3(d)(1) and (3), subject, however, to a two year holding period.

2. Represents disposition to issuer to cover taxes payable upon issuance of shares reported in footnote (1), exempt pursuant to Rule 16b-3.

	/s/ Christopher A. Graham	11/25/2025
	** 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) report in this Form 4?

A Senior Vice President of Steel Dynamics (STLD) reported a grant of 341 shares of restricted common stock and a related tax share withholding of 149 shares on 11/21/2025.

How many Steel Dynamics (STLD) shares does the reporting officer own after this transaction?

Following the reported transactions, the officer directly owns 66,930 shares of Steel Dynamics common stock.

What is the nature of the 341-share grant reported for Steel Dynamics (STLD)?

The 341 shares represent a grant of restricted stock, issued for no cash consideration, in lieu of restricted stock units because of the reporting person's age, and are subject to a two-year holding period.

Why were 149 Steel Dynamics (STLD) shares disposed of in this Form 4?

The 149 shares were disposed of back to the issuer to cover taxes payable upon issuance of the restricted shares reported in the grant.

At what price were the 149 Steel Dynamics (STLD) shares valued for tax withholding?

The 149 shares used to cover taxes were valued at $153.11 per share in the reported transaction.

What is the reporting person’s role at Steel Dynamics (STLD)?

The reporting person is an Officer of Steel Dynamics, serving as a Senior Vice President.