MILLETT MARK D 4

What Happened

• Mark D. Millett, Chairman & CEO and a director of Steel Dynamics (STLD), was granted 12,662 restricted stock units (RSUs) on 2026-02-20. The award was issued for no cash consideration and is reported with a grant value of $0 at award.

Key Details

• Transaction date: 2026-02-20 (Form 4 filed 2026-02-24).
• Transaction type: A = Award/Grant of RSUs; reported acquisition of 12,662 shares at $0.00.
• Vesting schedule (footnote): RSUs vest in three equal installments — 1/3 on 02/20/2028, 1/3 on 02/20/2029, and the final 1/3 on 02/20/2030; settlement will be in shares.
• Rule/Exemption: Award is made under the issuer’s equity incentive plan and is exempt from Section 16(b) under Rule 16b-3(d)(1) and (3).
• Shares owned after transaction: Not specified in the provided excerpt of the filing.
• Timeliness: Form 4 was filed on 2026-02-24 for a 2026-02-20 grant — this falls within the standard two business‑day reporting window and appears timely.

Context

• This is a compensation grant (RSUs), not an open-market purchase or sale. RSUs do not represent immediately tradable shares until they vest and are settled; therefore this grant is routine executive compensation rather than an immediate market signal.