BARGABOS SHEREE L 4

What Happened
Sheree L. Bargabos, a director of Steel Dynamics, received an award of 197 deferred stock units (DSUs) on February 20, 2026. The reported acquisition price is $0.00 because these DSUs are compensation, not an open‑market purchase; there was no cash exchanged at grant.

Key Details

• Transaction date: 2026-02-20; Form 4 filed: 2026-02-23 (timely filing).
• Amount: 197 DSUs granted; reported acquisition price $0.00 (compensation award).
• Shares owned after transaction: not specified in the public filing.
• Footnote: DSUs were issued as a director retainer under the Company’s 2023 Equity Incentive Plan and are exempt from Section 16(b) under Rule 16b‑3(d)(1) and (3). The DSUs are reportable as directly owned shares because they will be settled solely in common stock when paid.

Context
Director DSU grants are routine compensation and do not reflect an open‑market buy or sell. These deferred units convert to common stock when settled, so they are reported as direct share holdings for disclosure purposes. Purchases by insiders often attract more attention for sentiment; routine awards mainly reflect compensation policies.