Steel Dynamics VP uses shares to cover tax bill

Steel Dynamics Inc. vice president Chad Bickford had 166 shares of Common Stock withheld on May 1, 2026 to cover taxes due on the vesting of previously granted restricted stock units.

Rhea-AI Filing Summary

Steel Dynamics Inc. vice president Chad Bickford had 166 shares of Common Stock withheld on May 1, 2026 to cover taxes due on the vesting of previously granted restricted stock units. The shares were delivered back to the company under Rule 16b-3 and were not sold on the open market. After this tax-withholding disposition, Bickford directly holds 24,025 shares of Steel Dynamics common stock.

Insider Trade Summary

Exercise Price or Tax Liability: 166 shares

Exercise Price or Tax Liability 1 txn

Insider Bickford Chad

Role Vice President

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common Stock	166	$228.66	$38K

Holdings After Transaction: Common Stock — 24,025 shares (Direct)

Footnotes (1)

1. F1. Represents disposition to issuer to cover taxes payable upon vesting of previously issued and reported restricted stock units, exempt pursuant to Rule 16b-3.

Key Figures

Tax-withholding shares: 166 shares Per-share valuation: $228.66 per share Post-transaction holdings: 24,025 shares

3 metrics

Tax-withholding shares 166 shares Common Stock disposed to issuer for taxes on RSU vesting

Per-share valuation $228.66 per share Value used for the 166-share tax-withholding disposition

Post-transaction holdings 24,025 shares Common Stock directly owned after tax-withholding transaction

Key Terms

restricted stock units, Rule 16b-3, tax-withholding disposition

3 terms

restricted stock units financial

"upon vesting of previously issued and reported restricted stock units"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Rule 16b-3 regulatory

"exempt pursuant to Rule 16b-3"

Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.

tax-withholding disposition financial

"transaction_action: tax-withholding disposition"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Steel Dynamics (STLD) vice president Chad Bickford report on this Form 4?

Chad Bickford reported a tax-withholding disposition of 166 Steel Dynamics common shares. These shares were surrendered to the company to pay taxes owed when previously granted restricted stock units vested, and were not sold in the open market.

How many Steel Dynamics (STLD) shares did Chad Bickford dispose of for taxes?

He disposed of 166 shares of Steel Dynamics common stock to cover tax liabilities. The shares were delivered to the issuer in connection with vesting restricted stock units, as described as a transaction exempt under Rule 16b-3 in the filing footnote.

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

The 166 shares were valued at $228.66 per share for the tax-withholding transaction. This value reflects the price used to determine how many shares were needed to satisfy the tax obligation upon vesting of restricted stock units.

How many Steel Dynamics (STLD) shares does Chad Bickford hold after this Form 4 transaction?

Following the tax-withholding disposition, Chad Bickford directly holds 24,025 shares of Steel Dynamics common stock. This figure represents his remaining direct ownership after surrendering 166 shares back to the company for tax purposes related to vested restricted stock units.

Was Chad Bickford’s Steel Dynamics (STLD) Form 4 transaction an open-market sale?

No, the transaction was not an open-market sale. The filing identifies it as a tax-withholding disposition to the issuer, used to cover taxes on vested restricted stock units, and notes it is exempt under Rule 16b-3 rather than a discretionary sale.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/04/2026 - 12:40 PM EDT Learn about SEC filing dates

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^*

Bickford Chad

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/01/2026

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	05/01/2026		F		166(1)	D	$228.66	24,025	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 disposition to issuer to cover taxes payable upon vesting of previously issued and reported restricted stock units, exempt pursuant to Rule 16b-3.

	/s/ Chad Bickford	05/04/2026
	** 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)