Steel Dynamics (STLD) director receives 712-share equity award as DSUs

Rhea-AI Filing Summary

Seaman Bradley S reported acquisition or exercise transactions in this Form 4 filing.

Steel Dynamics Inc. director Bradley S. Seaman received an award of 712 shares of common stock-equivalent units as director compensation. The grant was issued as deferred stock units under the company’s 2023 Equity Incentive Plan at no cash cost to him.

The units are payable solely in common stock when settled and are reported as directly owned shares. They vest in four equal installments on 8/31/2026, 11/30/2026, 2/28/2027, and 5/31/2027. Following this award, Seaman directly holds 51,491 shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Seaman Bradley S

Role null

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

Holdings After Transaction: Common Stock — 51,491 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Equity award size: 712 shares Grant price: $0.0000 per share Post-transaction holdings: 51,491 shares +2 more

5 metrics

Equity award size 712 shares Deferred stock units granted as director retainer

Grant price $0.0000 per share Equity compensation, not a market purchase

Post-transaction holdings 51,491 shares Common stock directly owned after award

First vesting date 8/31/2026 1/4 of DSUs vest

Final vesting date 5/31/2027 Last 1/4 of DSUs vest

Key Terms

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

5 terms

deferred stock units financial

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

Deferred stock units are promises from a company to give an employee shares of stock at a future date, often after certain conditions are met or after leaving the company. They function like a form of delayed compensation, allowing employees to earn shares over time. For investors, they represent potential future ownership in the company, but do not provide immediate voting rights or dividends until the shares are actually received.

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)"

derivative security financial

"rather than as a derivative security in Table II, because any and all underlying DSUs"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

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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^*

Seaman Bradley S

(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	51,491	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 Bradley Seaman report in this Form 4?

Bradley S. Seaman reported receiving 712 common stock-equivalent deferred stock units as a director retainer. The grant was made under Steel Dynamics’ 2023 Equity Incentive Plan and is treated as directly owned common stock for reporting because it will be settled solely in shares.

Was the Steel Dynamics (STLD) Form 4 transaction a market purchase or sale?

The Form 4 shows a grant of 712 shares at a price of $0.0000 per share, not a market trade. It reflects equity compensation awarded to director Bradley S. Seaman rather than an open-market buy or sell transaction involving Steel Dynamics common stock.

How and when do Bradley Seaman’s Steel Dynamics (STLD) deferred stock units vest?

The 712 deferred stock units vest in four equal installments. Vesting occurs 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, aligning the award with Seaman’s ongoing service as a director.

How many Steel Dynamics (STLD) shares does Bradley Seaman hold after this award?

After the grant of 712 deferred stock units, Bradley S. Seaman is reported as directly owning 51,491 shares of Steel Dynamics common stock. This total includes the newly awarded units, which are treated as directly owned shares for reporting purposes.

What plan governs the Steel Dynamics (STLD) equity grant to director Bradley Seaman?

The equity grant was issued under Steel Dynamics’ 2023 Equity Incentive Plan as deferred stock units. These units are payable solely in common stock upon settlement, so they are reported in the Form 4 as directly owned shares rather than as derivative securities in a separate table.