Hamann Jennifer L 4

What Happened

• Jennifer L. Hamann, a director of Steel Dynamics (STLD), was granted 712 shares in the form of deferred stock units (DSUs) on 2026-06-01. The units were issued at $0.00 per share (aggregate initial value $0) as part of her director retainer under the Company's 2023 Equity Incentive Plan. This is a grant of compensation rather than an open-market purchase or sale.

Key Details

• Transaction date and price: 2026-06-01 — 712 shares at $0.00 per share.
• Shares owned after transaction: Not specified in the Form 4 filing.
• Footnote summary: DSUs issued as director retainer under the 2023 Equity Incentive Plan; exempt from Section 16(b) under Rule 16b-3(d)(1) and (3). DSUs are reportable as directly owned common stock because they will be settled solely in common stock. Vesting schedule: 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.
• Filing timeliness: Form 4 filed 2026-06-01 (same date as transaction), indicating a timely report.

Context

• DSUs are deferred compensation: they represent an entitlement to receive common stock in the future according to the vesting and settlement terms, not an immediate cash transaction. Grants to non-employee directors are common and are typically routine compensation; they do not by themselves indicate insider buying or selling sentiment.