DOLAN TRACI M 4

What Happened
Traci M. Dolan, a director of Steel Dynamics, received an award of 712 shares (reported as deferred stock units) on 2026-06-01. The grant is reported at $0.00 per share (total reported value $0) and was issued under the company's 2023 Equity Incentive Plan as director compensation. The DSUs vest in four equal installments: 1/4 on 8/31/2026, 1/4 on 11/30/2026, 1/4 on 2/28/2027 and 1/4 on 5/31/2027. Because the DSUs will be settled solely in common stock when paid, they are reported as directly owned shares rather than as a derivative.

Key Details

• Transaction date: 2026-06-01; transaction type: Award/Grant (code A)
• Price reported: $0.00; shares granted: 712 DSUs
• Shares owned after transaction: Not specified in this Form 4 filing
• Footnote: DSUs issued as director retainer under the 2023 Equity Incentive Plan; exempt from Section 16(b) per Rule 16b-3(d)(1) and (3) (see F1)
• Filing timeliness: Reported with period and filing date of 2026-06-01 (no late filing indicated)

Context
Deferred stock units are a common form of director compensation and represent future payments in shares when vested/settled; a $0 grant price reflects a compensation award (not an open-market purchase). Such awards are generally routine and do not by themselves indicate the director is buying or selling stock in the market.