Alvarez Miguel 4

What Happened

• Miguel Alvarez, Senior Vice President of Steel Dynamics (STLD), was granted 16,479 shares as an equity award on 2026-03-13 (code A). At the same time, 7,232 of those shares were withheld (disposed, code F) to satisfy his tax withholding obligation at a per-share value of $182.19, totaling $1,317,598. The award shares were granted at $0.00 per share (i.e., awarded, not purchased). Net from this grant, 9,247 shares remained after withholding.

Key Details

• Transaction dates: 2026-03-13 (grant and withholding); filing date: 2026-03-13 (filed same day).
• Award: 16,479 shares acquired at $0.00 (code A).
• Withholding: 7,232 shares disposed at $182.19 per share, total value $1,317,598 (code F).
• Net shares retained from this grant: 9,247 (16,479 awarded − 7,232 withheld).
• Shares owned after the transaction: not stated in the filing.
• Footnotes: F1 indicates the award was granted under the company’s Long‑Term Incentive Program and is exempt under Rule 16b‑3(d); F2 confirms the withheld shares were used to pay the reporting person’s tax withholding and are exempt under Rule 16b‑3(e).

Context

• This is a standard equity compensation event (award + share withholding to cover taxes), not an open‑market sale or purchase. Withholding of shares to satisfy taxes is common with vesting awards and does not necessarily indicate a change in the insider’s view of the company.