Cornew Kenneth W. 4

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.