Alvarez Miguel 4

What Happened Miguel Alvarez, Senior Vice President of Steel Dynamics Inc. (STLD), was granted 4,187 restricted stock units (RSUs) on 2026-02-20. The award has a grant price of $0 (no cash paid) and therefore a reported acquisition value of $0. This is a compensation grant (not an open‑market purchase or sale) and is commonly part of executive equity pay.

Key Details

• Transaction date: 2026-02-20; Form 4 filed: 2026-02-24 (timely — within two business days).
• Transaction type: Award/Grant (Code A). Shares granted: 4,187; price: $0; total reported value: $0.
• Vesting: RSUs vest in three equal installments — 1/3 on 02/20/2028, 1/3 on 02/20/2029, and 1/3 on 02/20/2030. Upon vesting, settlement will be made solely in the same number of common shares.
• Footnote: Grant is under the issuer’s equity incentive plan and is exempt from Section 16(b) per Rule 16b‑3(d)(1) and (3).
• Shares owned after the transaction: not specified in the filing.

Context RSUs are a promise to deliver stock in the future if vesting conditions are met; they are not an immediate market purchase and do not by themselves signal buying or selling sentiment. Such awards are routine forms of executive compensation and become meaningful to the market only when vested shares are delivered or sold.