Hamann Jennifer L 4

What Happened

• Jennifer L. Hamann, a director of Steel Dynamics, was issued 18 shares (reported as an acquisition, code A) on 2026-07-10. The filing shows an acquisition price of $0 because these shares represent deferred stock units (DSUs) issued as dividend equivalents under the company's 2023 Equity Incentive Plan and dividend reinvestment arrangements.

Key Details

• Transaction date: 2026-07-10; Filing date: 2026-07-14.
• Transaction type/code: Award/Acquisition (A); 18 shares; reported acquisition price $0.
• Shares owned after transaction: Not specified in the provided report.
• Footnotes: F1 states these are DSUs issued as dividend equivalents and that the transaction is exempt from Section 16(a) reporting requirements and Section 16(b) by virtue of the Plan and the Company’s Dividend Reinvestment Plan and Rule 16b-3(d)(1) & (3). F2 notes the DSUs are payable solely in shares and thus are reported as direct common stock. F3 notes the total includes reinvested dividends on underlying DSUs.
• Timeliness: Form filed 4 days after the transaction (check: filing lists exemption from Section 16(a) reporting).

Context

• These DSUs are a form of director compensation/dividend reinvestment (not a cash purchase) and are typically routine. Because they are dividend-equivalent awards payable in shares, they’re reported as direct shares rather than derivatives and do not imply an immediate market buy or sell. The small size (18 shares) suggests a routine grant rather than a material insider market signal.