Cornew Kenneth W. 4

4 · STEEL DYNAMICS INC · Filed Jul 14, 2026

AI-generated summary of this filing

Updated Jul 14, 2026

Steel Dynamics (STLD) Director Kenneth W. Cornew Receives 2-Share Award

What Happened

Kenneth W. Cornew, a director of Steel Dynamics, received an award of 2 shares on July 10, 2026. The transaction is reported as an acquisition (grant/award) at $0.00 per share (total reported value $0). This reflects shares issued as dividend equivalents tied to deferred stock units (DSUs) related to his director retainer.

Key Details

Transaction date: 2026-07-10; Filing date: 2026-07-14.
Transaction type/code: Award/Grant (A).
Shares acquired: 2 shares; Price per share: $0.00; Total reported value: $0.
Shares owned after transaction: Not specified in the provided filing excerpt.
Footnotes: The shares represent dividend-equivalent DSUs issued under the company's 2023 Equity Incentive Plan and were reported as directly owned shares because the DSUs are payable solely in common stock. The issuance is noted as exempt from certain Section 16 reporting and short-swing profit provisions due to the dividend reinvestment feature and applicable Rule 16b-3 exemptions. The total includes any reinvested dividends on underlying DSUs.

Context

This is a routine director compensation event (dividend-equivalent DSUs), not an open-market purchase or sale. Such small, zero-cash awards are common for board retainer payments and generally do not by themselves signal a change in insider sentiment.

Form 4

Period: 2026-07-10

Director

Transactions

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.

Signature

/s/ Theresa E. Wagler by Power of Attorney|2026-07-14

1 file