STLD executive reports restricted stock award and tax share disposals

Rhea-AI Filing Summary

Steel Dynamics, Inc. (STLD)11/21/2025, he received a grant of 341 shares of common stock for no cash consideration, structured as restricted stock instead of restricted stock units because of his age and subject to a two-year holding period.

On the same date, he surrendered 149, 205, and 159 shares of common stock to the company at $153.11 per share to cover taxes due on new and previously granted restricted stock and restricted stock units. After these transactions, he directly beneficially owned 141,178 shares of Steel Dynamics common stock.

11/25/2025 - 08:19 AM

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^*

Pushis Glenn

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
11/21/2025

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	11/21/2025		A		341(1)	A	$0	141,691	D
Common Stock	11/21/2025		F		149(2)	D	$153.11	141,542	D
Common Stock	11/21/2025		F		205(3)	D	$153.11	141,337	D
Common Stock	11/21/2025		F		159(4)	D	$153.11	141,178	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, in lieu of restricted stock units because of reporting person's age, for no consideration, and exempt from Section 16(b) by virtue of Rule 16b-3(d)(1) and (3), subject, however, to a two year holding period.

2. Represents disposition to issuer to cover taxes payable upon issuance of shares reported in footnote (1), exempt pursuant to Rule 16b-3.

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

4. Represents disposition to issuer to cover taxes payable upon issuance of restricted shares required to be issued to reporting person by reason of his age, in advance of the otherwise applicable second year of the two-year vesting requirement of previously issued restricted stock units; subject however, to an additional one-year holding period.

	/s/ Glenn Pushis	11/25/2025
	** 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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** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What insider transaction did Steel Dynamics (STLD) report on this Form 4?

The Form 4 reports that Senior Vice President Glenn Pushis received a grant of 341 shares of Steel Dynamics common stock on 11/21/2025 and surrendered several small share amounts to cover taxes.

How many Steel Dynamics (STLD) shares did the SVP receive and on what terms?

He received 341 shares of restricted common stock for no cash consideration, granted in lieu of restricted stock units because of his age and subject to a two-year holding period.

Why did the Steel Dynamics SVP dispose of some shares on 11/21/2025?

He disposed of 149, 205, and 159 shares of common stock back to the issuer at $153.11 per share to cover taxes payable on the issuance or vesting of restricted stock and restricted stock units, as described in the footnotes.

How many Steel Dynamics (STLD) shares does the reporting person own after these transactions?

Following the reported transactions, Senior Vice President Glenn Pushis directly beneficially owned 141,178 shares of Steel Dynamics common stock.

Are the reported Steel Dynamics transactions exempt under Section 16 rules?

Yes. The grant of restricted stock and the dispositions to cover taxes are described as exempt from Section 16(b) under Rule 16b-3, as noted in the explanatory footnotes.

What role does the reporting person hold at Steel Dynamics (STLD)?

The reporting person, Glenn Pushis, is identified as an Officer of Steel Dynamics with the title Senior Vice President.