Steel Dynamics (NASDAQ: STLD) director gets 712-share deferred stock grant
Rhea-AI Filing Summary
Sierra Luis Manuel reported acquisition or exercise transactions in this Form 4 filing.
STEEL DYNAMICS INC director Luis Manuel Sierra received a grant of 712 shares of common stock in the form of deferred stock units. The award was made at a stated price of $0.00 per share as part of his retainer under the company’s 2023 Equity Incentive Plan.
Following this grant, Sierra directly holds 11,516 shares of common stock. The deferred stock units vest in four equal installments: one-quarter on August 31, 2026, one-quarter on November 30, 2026, one-quarter on February 28, 2027, and the final quarter on May 31, 2027, and will be settled solely in common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 712 shares
Net Buy
1 txn
Insider
Sierra Luis Manuel
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 712 | $0.00 | $0.00 |
Holdings After Transaction:
Common Stock — 11,516 shares (Direct)
Footnotes (1)
- F1. 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 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 common stock. See Lincoln National Corp. (March 20, 1992) (Q.3). The DSUs vest as follows: 1/4 on 8/31/2026, 1/4 on 11/30/2026, 1/4 on 2/28/2027 and 1/4 on 5/31/2027.
Key Figures
Shares granted: 712 shares
Grant price: $0.00 per share
Shares after transaction: 11,516 shares
+1 more
4 metrics
Shares granted
712 shares
Deferred stock units grant to director on June 1, 2026
Grant price
$0.00 per share
Stated transaction price for DSU award
Shares after transaction
11,516 shares
Director’s direct holdings following the grant
Vesting schedule
4 equal installments
Vests on 8/31/2026, 11/30/2026, 2/28/2027, 5/31/2027
Key Terms
deferred stock units (DSUs), 2023 Equity Incentive Plan, Section 16(b), Rule 16b-3(d)(1) and (3)
4 terms
deferred stock units (DSUs) financial
"Issued as deferred stock units (DSUs) in connection with reporting person's retainer as a director"
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.
2023 Equity Incentive Plan financial
"in connection with reporting person's retainer as a director under the Company's 2023 Equity Incentive Plan"
Section 16(b) regulatory
"exempt from Section 16(b) by virtue of Rule 16b-3(d)(1) and (3)"
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) and (3) regulatory
"exempt from Section 16(b) by virtue of Rule 16b-3(d)(1) and (3)"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did director Luis Manuel Sierra receive in this STEEL DYNAMICS (STLD) Form 4 filing?
Director Luis Manuel Sierra received a grant of 712 deferred stock units, reportable as common shares. The award is part of his director retainer under Steel Dynamics’ 2023 Equity Incentive Plan and carries a stated grant price of $0.00 per share as disclosed.
How do the deferred stock units granted to the STEEL DYNAMICS (STLD) director vest?
The 712 deferred stock units vest in four equal installments. One-quarter vests on August 31, 2026, another quarter on November 30, 2026, the third quarter on February 28, 2027, and the final quarter on May 31, 2027, as specified in the footnote.
Will the STEEL DYNAMICS (STLD) director’s deferred stock units be settled in cash or stock?
The deferred stock units for director Luis Manuel Sierra are payable solely in Steel Dynamics common stock when settled. Because settlement is only in shares, they are reported as directly owned common stock rather than as a derivative security in the Form 4 tables.
What plan governs the STEEL DYNAMICS (STLD) director’s deferred stock unit grant?
The grant was made under Steel Dynamics’ 2023 Equity Incentive Plan. The Form 4 notes that the deferred stock units were issued in connection with Sierra’s director retainer and are exempt from Section 16(b) under Rule 16b-3(d)(1) and (3).