DOLAN TRACI M 4
4 · STEEL DYNAMICS INC · Filed Apr 13, 2026
Research Summary
AI-generated summary of this filing
Steel Dynamics (STLD) Director Traci Dolan Receives Award
What Happened
Traci M. Dolan, a director of Steel Dynamics, received an award of 120 deferred stock units (DSUs) on April 10, 2026. The filing reports the acquisition as 120 shares at $0.00 (reflecting a dividend-equivalent issuance rather than a cash purchase). These DSUs are payable solely in common stock when settled.
Key Details
- Transaction date: 2026-04-10; Form 4 filed 2026-04-13.
- Reported transaction: 120 shares (DSUs) acquired @ $0.00 (reported value $0).
- Shares owned after transaction: not specified in the information provided on this filing.
- Footnotes:
- F1: These 120 shares represent DSUs issued as dividend equivalents under the Company’s 2023 Equity Incentive Plan and the Company’s Dividend Reinvestment Plan; the issuance is exempt from certain Section 16(a) reporting requirements and Section 16(b) short-swing profit rules.
- F2: The DSUs are reported as directly owned shares because they are payable solely in common stock upon settlement.
- F3: Total includes any shares from reinvested dividends on underlying DSUs.
Context
DSUs are a common form of director compensation that defer payment until a later settlement date and are typically paid in shares; they are not open-market purchases or sales and therefore do not directly signal a director’s trading sentiment. The award was issued as a dividend-equivalent credit and treated as an acquisition for reporting purposes.
Insider Transaction Report
- Award
Common Stock
[F1][F2][F3]2026-04-10+120→ 58,156 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.