Steel Dynamics (STLD) CEO awarded 12,662 restricted stock units in equity grant

Rhea-AI Filing Summary

MILLETT MARK D reported acquisition or exercise transactions in this Form 4 filing.

Steel Dynamics Chairman and CEO Mark D. Millett received an equity award of 12,662 shares of common stock in the form of restricted stock units for no cash consideration. These units vest in three equal installments on February 20, 2028, February 20, 2029, and February 20, 2030, and will settle in the same number of common shares. Following this grant, Millett directly holds 3,001,919 common shares.

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

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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^*

MILLETT MARK D

(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
X	Officer (give title below)		Other (specify below)
	Chairman & CEO

3. Date of Earliest Transaction (Month/Day/Year)
02/20/2026

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	02/20/2026		A		12,662(1)	A	$0	3,001,919	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 units equal to the same number of underlying shares, received as an award under the Issuer's equity incentive plan, for no consideration, and exempt from Section 16(b) by virtue of Rule 16b-3(d)(1) and (3). The restricted units vest over a four year period as follows: 1/3 on 02/20/2028, 1/3 on 02/20/2029 and the final 1/3 on 02/20/2030, following which settlement is to be made solely in the same number of shares of the Issuer's common stock shown in Column 4.

	/s/ Mark D. Millett	02/24/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What did Steel Dynamics (STLD) report in this Form 4 filing?

Steel Dynamics reported that Chairman and CEO Mark D. Millett received an award of 12,662 restricted stock units. The award was granted for no cash consideration under the company’s equity incentive plan and will settle in common stock once vested.

How many Steel Dynamics (STLD) shares does Mark D. Millett own after this grant?

After the award, Mark D. Millett directly holds 3,001,919 shares of Steel Dynamics common stock. This total reflects the addition of 12,662 restricted stock units granted in the reported transaction, as disclosed in the Form 4 filing.

What type of equity award did Steel Dynamics (STLD) grant to its CEO?

Steel Dynamics granted its CEO restricted stock units representing 12,662 underlying common shares. The grant was made under the company’s equity incentive plan, for no consideration, and is exempt from Section 16(b) under Rule 16b-3(d)(1) and (3).

What is the vesting schedule for the new Steel Dynamics (STLD) restricted stock units?

The 12,662 restricted stock units vest over four years: one-third on February 20, 2028, one-third on February 20, 2029, and the final third on February 20, 2030. After vesting, settlement is in an equal number of common shares.

Did Mark D. Millett pay cash for the Steel Dynamics (STLD) restricted stock units?

No, Mark D. Millett did not pay cash for these units. The 12,662 restricted stock units were received as an award under Steel Dynamics’ equity incentive plan for no consideration, as clearly described in the Form 4 footnote.

Is the Steel Dynamics (STLD) Form 4 transaction a market buy or sell?

The transaction is not a market buy or sell. It is a grant or award acquisition of 12,662 restricted stock units to the CEO under the company’s equity incentive plan, classified as a grant under transaction code “A.”