Hamann Jennifer L 4

What Happened
Jennifer L. Hamann, a director of Steel Dynamics (STLD), was granted 99 deferred stock units (DSUs) on February 20, 2026. The grant is reported as an acquisition of 99 shares at $0.00 per share (total reported value $0). This was an award/retainer grant, not an open-market purchase or sale.

Key Details

• Transaction date: 2026-02-20; Form 4 filed: 2026-02-23 (timely).
• Reported price: $0.00 per share; reported total value: $0.
• Shares acquired: 99 DSUs (reported as directly owned common shares). Post-transaction total holdings not specified in the filing.
• Footnote: DSUs issued under the Company’s 2023 Equity Incentive Plan and exempt from Section 16(b) under Rule 16b-3(d)(1) & (3). DSUs are payable solely in common stock at settlement and therefore are reported as direct share ownership (see footnote referencing Lincoln Nat’l guidance).

Context
Deferred stock units are a form of director retainer compensation and are paid out later (here, in common stock), so they represent deferred pay rather than an active market buy or sell. Such routine grants are common for non-employee directors and do not by themselves indicate management trading sentiment.