Steel Dynamics director gets 129-share stock award
Steel Dynamics director Bradley S. Seaman reported a stock-based award, not an open-market trade.
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Form Type
4
Rhea-AI Filing Summary
Steel Dynamics director Bradley S. Seaman reported a stock-based award, not an open-market trade. He acquired 129 shares of common stock on a grant/award basis at a stated price of $0.0000 per share.
The shares represent dividend-equivalent deferred stock units issued in connection with his director retainer under Steel Dynamics’ 2023 Equity Incentive Plan and the company’s Dividend Reinvestment Plan. After this award, Seaman directly holds 50,779 shares of common stock, including shares from reinvested dividends on underlying deferred stock units.
Insider Trade Summary
Grant/Award: 129 shares
Grant/Award
1 txn
Insider
Seaman Bradley S
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 129 | $0.00 | $0.00 |
Holdings After Transaction:
Common Stock — 50,779 shares (Direct)
Footnotes (3)
- F1. 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).
- F2. 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).
- F3. Includes shares resulting from reinvestment of dividends on any underlying DSUs included in this total.
Key Figures
Stock award: 129 shares
Direct holdings after award: 50,779 shares
Award price per share: $0.0000 per share
3 metrics
Stock award
129 shares
Dividend-equivalent DSU award of common stock
Direct holdings after award
50,779 shares
Common stock directly owned following the transaction
Award price per share
$0.0000 per share
Stated transaction price on the Form 4 for the grant
Key Terms
deferred stock units (DSUs), Dividend Reinvestment Plan, Section 16(b), Rule 16b-3(d)(1)
4 terms
deferred stock units (DSUs) financial
"underlying additional deferred stock units (DSUs) issued to the reporting person"
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.
Dividend Reinvestment Plan financial
"the Company’s existing Dividend Reinvestment Plan, as well as being exempt"
A dividend reinvestment plan lets shareholders automatically use cash dividends to buy more shares of the same company instead of receiving the money. It matters to investors because it turns regular payouts into a steady way to grow ownership and take advantage of compound returns—like having your savings automatically buy additional slices of a pie over time—while often reducing transaction costs and smoothing purchase timing.
Section 16(b) regulatory
"exempt from Section 16(b) independently by virtue of Rule 16b-3(d)(1)"
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) regulatory
"exempt from Section 16(b) independently by virtue of Rule 16b-3(d)(1) and (3)"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Steel Dynamics (STLD) director Bradley S. Seaman report?
Bradley S. Seaman reported acquiring 129 Steel Dynamics common shares through a stock-based award. The award reflects dividend-equivalent deferred stock units tied to his director retainer, rather than an open-market purchase, and increases his directly held common stock position.
Was Bradley Seaman’s Steel Dynamics Form 4 a stock purchase or a compensation award?
The Form 4 reflects a compensation-related award, not an open-market stock purchase. Seaman received 129 dividend-equivalent deferred stock units payable in common shares under Steel Dynamics’ 2023 Equity Incentive Plan and Dividend Reinvestment Plan, reported as directly owned common stock.
What is the significance of deferred stock units (DSUs) in Bradley Seaman’s Steel Dynamics filing?
The filing shows Seaman’s award is based on deferred stock units, which are payable only in common shares when settled. These DSUs generate dividend-equivalent shares that are reported as directly owned common stock, aligning director compensation with Steel Dynamics’ share performance.
Why does the Steel Dynamics insider award mention Section 16(b) and Rule 16b-3?
The footnotes state this dividend-equivalent DSU award is exempt from Section 16(b) and certain Section 16(a) rules. The exemption arises from the plan’s dividend reinvestment feature, the company’s Dividend Reinvestment Plan, and specific relief under Rule 16b-3(d)(1) and (3).
AI-generated analysis. How Rhea-AI works. Not financial advice.
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