Cornew Kenneth W. 4
4 · STEEL DYNAMICS INC · Filed Apr 13, 2026
Research Summary
AI-generated summary of this filing
Steel Dynamics Director Kenneth Cornew Receives 5-Share Award
What happened
Kenneth W. Cornew, a director of Steel Dynamics, received an award of 5 shares (recorded as 5 deferred stock units/DSUs) on April 10, 2026. The Form 4 shows the acquisition price as $0.00, so the reported transaction value is $0.00. This was an award/dividend-equivalent issuance tied to his director retainer — not an open-market purchase or sale.
Key Details
- Transaction date: April 10, 2026 — 5 shares acquired at $0.00 (total reported value $0.00).
- Filing date: April 13, 2026 (filed within required Form 4 timing).
- Shares owned after transaction: not specified in the provided filing.
- Footnotes:
- The 5 shares represent DSUs issued as dividend equivalents under the company’s 2023 Equity Incentive Plan and related dividend reinvestment features.
- The DSUs are reportable as directly owned common stock because they will be settled solely in shares when paid.
- The filing notes the issuance is treated as exempt from certain Section 16 reporting/provisions due to the dividend-reinvestment/Plan terms and Rule 16b-3 exemptions.
Context
DSUs are typically bookkeeping units that convert to shares when payable (often upon leave from the board or at a specified payment date). This award is a routine director compensation mechanism and does not reflect an open-market purchase or sale by the director. Because the grant is recorded at $0.00 and was issued as a dividend equivalent, it should not be interpreted as an active bullish or bearish trading signal.
Insider Transaction Report
- Award
Common Stock
[F1][F2][F3]2026-04-10+5→ 36,299 total
Footnotes (3)
- [F1]Represents the number of shares of common stock underlying additional deferred stock units (DSUs) issued to the reporting person as a dividend equivalent, in connection with this person's retainer as a director under the Company's 2023 Equity Incentive Plan (the "Plan"). This transaction is exempt from both the reporting requirements of Section 16(a), including Rule 16a-11, and the provisions of Section 16(b), by virtue of this dividend reinvestment feature of the Plan and the Company's existing Dividend Reinvestment Plan, as well as being exempt from Section 16(b) independently by virtue of Rule 16b-3(d)(1) and (3).
- [F2]Reportable as directly owned shares of common stock, rather than as a derivative security in Table II, because any and all underlying DSUs are payable, at such time as they are to be settled, solely in shares of common stock. (See Lincoln National Corp. (March 20, 1992) Q.3).
- [F3]Includes shares resulting from reinvestment of dividends on any underlying DSUs included in this total.