Form 4: Greiff Andrew S reports disposition transactions in ZEUS

Rhea-AI Filing Summary

Greiff Andrew S reported disposition transactions in a Form 4 filing for ZEUS. The filing lists transactions totaling 63,984 shares.

Insights

Equity compensation and M&A specialist

Officer’s Olympic Steel equity is converted or cashed out as merger closes.

The transactions show Andrew S. Greiff, President and Chief Operating Officer of Olympic Steel, disposing of common shares and RSUs on February 13, 2026. This aligns with the merger terms under which Olympic Steel shares convert into Ryerson Holding Corporation stock.

Each Olympic Steel common share is exchanged for 1.7105 Ryerson shares, plus cash for fractional shares. RSU awards are similarly adjusted: most become Ryerson-based RSUs with existing vesting schedules, while one fully vested RSU grant is converted and then exchanged for cash using Ryerson’s closing price on February 13, 2026.

These are non‑open‑market, issuer-related dispositions labeled as "disposition to issuer" rather than discretionary sales. They primarily reflect implementation of the merger consideration mechanics rather than a directional bet by the officer. Actual economic impact depends on the Ryerson share value and future vesting of the converted RSUs.

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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X

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^*

Greiff Andrew S

(Last) (First) (Middle)

C/O OLYMPIC STEEL, INC.

22901 MILL CREEK BLVD., SUITE 650

(Street)

HIGHLAND HILLS OH 44122

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
OLYMPIC STEEL INC [ ZEUS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	See Remarks

3. Date of Earliest Transaction (Month/Day/Year)
02/13/2026

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	02/13/2026		D		19,863	D	(1)	0	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
Restricted Share Units	(2)	02/13/2026		D			26,267	(3)	(3)	Common Stock	26,267	(3)	0	D
Restricted Share Units	(2)	02/13/2026		D			5,997	(4)	(4)	Common Stock	5,997	(4)	0	D
Restricted Share Units	(2)	02/13/2026		D			6,000	(5)	(5)	Common Stock	6,000	(5)	0	D
Restricted Share Units	(2)	02/13/2026		D			5,857	(6)	(6)	Common Stock	5,857	(6)	0	D

Explanation of Responses:

1. Disposed of pursuant to the Agreement and Plan of Merger ("Merger Agreement"), dated as of October 28, 2025, by and among Olympic Steel, Inc. (the "Company"), Ryerson Holding Corporation ("Parent"), and Crimson MS Corp. At the effective time of the merger, each share of the Company's common stock, without par value ("Company common stock"), that was issued and outstanding immediately prior to the effective time of the merger was converted into the right to receive a number of shares of common stock, $0.01 par value per share, of Parent ("Parent common stock"), multiplied by 1.7105 (rounded down to the nearest whole share), plus a cash payment (rounded down to the nearest cent) in lieu of any fractional shares as determined pursuant to the Merger Agreement.

2. Each restricted share unit ("RSU") represents the contingent right to receive one share of Company common stock.

3. These RSUs are fully vested and will generally be settled upon the Reporting Person's separation from service. Pursuant to the Merger Agreement, these RSUs were converted into RSUs with respect to Parent common stock by multiplying the number of shares of Company common stock underlying the award by 1.7105 (rounded down to the nearest whole share).

4. These RSUs generally vest on December 31, 2026, subject to the Reporting Person's continued employment and will be settled within 90 days following the applicable vesting date. Pursuant to the Merger Agreement, these RSUs were converted into RSUs with respect to Parent common stock by multiplying the number of shares of Company common stock underlying the award by 1.7105 (rounded down to the nearest whole share).

5. These RSUs generally vest on December 31, 2027, subject to the Reporting Person's continued employment and will be settled within 90 days following the applicable vesting date. Pursuant to the Merger Agreement, these RSUs were converted into RSUs with respect to Parent common stock by multiplying the number of shares of Company common stock underlying the award by 1.7105 (rounded down to the nearest whole share).

6. These RSUs are fully vested. Pursuant to the Merger Agreement, these RSUs were converted into RSUs with respect to Parent common stock by multiplying the number of shares of Company common stock underlying the award by 1.7105 (rounded down to the nearest whole share) and then cancelled in exchange for a cash payment equal to the number of shares of Parent common stock underlying the award, multiplied by the closing price per share of Parent common stock on February 13, 2026 (less applicable taxes), payable within 30 days of such date.

Remarks:

President and Chief Operating Officer

	/s/ Lisa K. Christen, as Attorney-In-Fact	02/17/2026
	** 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).
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FAQ

What insider transaction did Olympic Steel (ZEUS) report for Andrew S. Greiff?

Olympic Steel reported that President and COO Andrew S. Greiff disposed of common shares and several restricted share unit awards on February 13, 2026. These transactions were issuer-related dispositions tied to the closing of the merger with Ryerson Holding Corporation, not open-market sales or purchases.

How many Olympic Steel (ZEUS) common shares did Andrew S. Greiff dispose of?

Andrew S. Greiff disposed of 19,863 shares of Olympic Steel common stock on February 13, 2026. Each of these shares was converted into the right to receive 1.7105 shares of Ryerson Holding Corporation common stock, plus a small cash payment for any resulting fractional shares.

How were Olympic Steel (ZEUS) restricted share units treated in the Ryerson merger?

Each restricted share unit represented one Olympic Steel share and was adjusted under the merger. Most RSUs were converted into RSUs tied to Ryerson Holding Corporation stock using a 1.7105 exchange ratio, preserving vesting terms, while one fully vested RSU grant was converted and then cashed out based on Ryerson’s closing share price.

Was Andrew S. Greiff’s Form 4 for Olympic Steel (ZEUS) an open-market sale?

No. The Form 4 classifies all transactions under code D as dispositions to the issuer. The movements reflect mandatory treatment of common shares and RSUs under the merger agreement with Ryerson Holding Corporation, rather than elective open-market selling or buying by the officer.

What exchange ratio applied to Olympic Steel (ZEUS) shares in the Ryerson merger?

Each share of Olympic Steel common stock outstanding immediately before the merger’s effective time was converted into 1.7105 shares of Ryerson Holding Corporation common stock. Any fractional shares created by this 1.7105 ratio were settled with a separate cash payment rounded to the nearest cent.

How was one fully vested Olympic Steel (ZEUS) RSU grant settled after the merger?

One fully vested RSU award first became RSUs referencing Ryerson Holding Corporation shares using the 1.7105 factor. Those RSUs were then cancelled for cash equal to the underlying Ryerson shares multiplied by Ryerson’s February 13, 2026 closing price, minus applicable taxes, paid within 30 days.