[Form 4] STEEL DYNAMICS INC Insider Trading Activity

Rhea-AI Filing Summary

Steel Dynamics (STLD) director Richard P. Teets, Jr. reported acquiring 244 shares of common stock at $0 on 11/06/2025. The award was issued as deferred stock units under the company’s 2023 Equity Incentive Plan and is reported as common stock because the units settle solely in shares.

Following this transaction, beneficial ownership stands at 4,979,879 shares held directly, plus 93,119 shares held indirectly by spouse and 73,000 shares held indirectly by the Teets Family Foundation, over which the reporting person 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	244	$0.00	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 4,979,879 shares (Direct); Common Stock — 93,119 shares (Indirect, By spouse)

Footnotes (1)

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 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) 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
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^*

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)
11/06/2025

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	11/06/2025		A		244(1)	A	$0	4,979,879	D
Common Stock								93,119	I	By spouse
Common Stock								73,000	I	By Teets Family Foundation(2)

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 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)

2. 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.	11/06/2025
	** 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 did STLD’s director report on Form 4?

Acquisition of 244 shares at $0 on 11/06/2025, issued as deferred stock units under the 2023 Equity Incentive Plan.

How many STLD shares does the reporting person own after the transaction?

Direct ownership is 4,979,879 shares; indirect holdings include 93,119 shares by spouse and 73,000 shares by the Teets Family Foundation.

Why are the DSUs reported as common stock for STLD?

Because the DSUs are payable solely in common stock upon settlement, they are reported as directly owned shares.

What is the relationship of the reporting person to STLD?

The reporting person is a Director of Steel Dynamics, Inc.

What indirect holdings are reported for STLD?

93,119 shares held by spouse and 73,000 shares held by the Teets Family Foundation, with voting and investment power held by the reporting person.