DOLAN TRACI M 4

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.