Director at Steel Dynamics (STLD) receives 158 deferred share units
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
TEETS RICHARD P JR reported acquisition or exercise transactions in this Form 4 filing.
Steel Dynamics Inc. director Richard P. Teets Jr. received 158 deferred stock units as part of his director retainer under the company’s 2023 Equity Incentive Plan. These units are payable solely in common stock and are reported as directly owned shares.
Following this grant, he directly holds 4,980,252 shares of common stock. Indirectly, 73,000 shares are held through the Teets Family Foundation, over which he has voting and investment power, and 93,119 shares are held by his spouse.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
TEETS RICHARD P JR
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 158 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 4,980,252 shares (Direct, null);
Common Stock — 93,119 shares (Indirect, By spouse)
Footnotes (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.
Key Figures
Director share grant: 158 shares
Direct holdings after grant: 4,980,252 shares
Teets Family Foundation holdings: 73,000 shares
+3 more
6 metrics
Director share grant
158 shares
Deferred stock units granted as part of director retainer
Direct holdings after grant
4,980,252 shares
Common stock directly owned after DSU grant
Teets Family Foundation holdings
73,000 shares
Indirect common stock ownership via Teets Family Foundation
Spouse holdings
93,119 shares
Indirect common stock ownership held by spouse
Transaction code
Code A
Grant, award, or other acquisition of common stock
Grant price
$0.00 per share
Deferred stock units issued with no cash price per share
Key Terms
deferred stock units (DSUs), 2023 Equity Incentive Plan, Section 16(b), Rule 16b-3(d)(1) and (3), +1 more
5 terms
deferred stock units (DSUs) financial
"Issued as deferred stock units (DSUs) in connection with reporting person's retainer"
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
"under the Company's 2023 Equity Incentive Plan and exempt from Section 16(b)"
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)"
Teets Family Foundation financial
"Represents securities held by the Teets Family Foundation, a charitable foundation"
FAQ
What did Steel Dynamics (STLD) director Richard P. Teets Jr. receive in this Form 4?
He received 158 deferred stock units as part of his director retainer. These units are issued under Steel Dynamics’ 2023 Equity Incentive Plan and are payable solely in common stock, so they are reported as directly owned common shares.
What are deferred stock units (DSUs) in the Steel Dynamics (STLD) filing?
Deferred stock units are share-based awards that convert into common stock at settlement. In this case, the DSUs granted to the director under the 2023 Equity Incentive Plan are payable only in Steel Dynamics common stock, so they are reported as directly owned shares.