Greiff Andrew S 4
4 · OLYMPIC STEEL INC · Filed Feb 17, 2026
Research Summary
AI-generated summary of this filing
Olympic Steel (ZEUS) President Andrew Greiff Converts/Sells Shares in Merger
What Happened
Andrew S. Greiff, President and Chief Operating Officer of Olympic Steel (ZEUS), disposed of a total of 63,984 company-related units on Feb 13, 2026. That total includes 19,863 issued shares of common stock and 44,121 RSU/derivative units. These dispositions were not open-market sales but transfers to the issuer in connection with the Company’s merger; each share of Olympic Steel common stock was converted under the Merger Agreement into the right to receive 1.7105 shares of Ryerson Holding Corporation (Parent) common stock (rounded down) plus cash in lieu of fractional shares. Some fully vested RSUs were converted and then cancelled in exchange for a cash payment based on Parent’s Feb 13, 2026 closing price (less applicable taxes).
Key Details
- Transaction date: February 13, 2026 (reported on Form 4 filed Feb 17, 2026) — filing appears timely under the two-business-day rule.
- Transaction type: Disposition to issuer (Code D) pursuant to the Agreement and Plan of Merger.
- Shares/units disposed: 19,863 common shares; 26,267 + 5,997 + 6,000 + 5,857 RSU/derivative units (total derivatives = 44,121); aggregate = 63,984.
- Price / value: Not reported on Form 4 for the common-share conversion (N/A). Certain vested RSUs were cancelled for cash equal to the number of Parent shares underlying the award multiplied by Parent’s Feb 13, 2026 closing price (amount not shown on this Form 4).
- Shares owned after transaction: Not specified on the filing.
- Notable footnotes: Merger conversion multiplier = 1.7105; RSUs were converted into Parent RSUs for time‑vested awards and some fully vested awards were cashed out per the Merger Agreement.
Context
These disposals reflect the mechanical conversion and settlement of equity awards and shares under a corporate merger, not a routine trading decision. RSUs are contingent rights to receive shares; under the merger some awards were converted into equivalent Parent RSUs (using the 1.7105 multiplier) while fully vested awards were settled for cash. Because this is a merger-related disposition, it should not be interpreted as a conventional insider “sell” signal from open-market selling.
Insider Transaction Report
- Disposition to Issuer
Common Stock
[F1]2026-02-13−19,863→ 0 total - Disposition to Issuer
Restricted Share Units
[F2][F3]2026-02-13−26,267→ 0 total→ Common Stock (26,267 underlying) - Disposition to Issuer
Restricted Share Units
[F2][F4]2026-02-13−5,997→ 0 total→ Common Stock (5,997 underlying) - Disposition to Issuer
Restricted Share Units
[F2][F5]2026-02-13−6,000→ 0 total→ Common Stock (6,000 underlying) - Disposition to Issuer
Restricted Share Units
[F2][F6]2026-02-13−5,857→ 0 total→ Common Stock (5,857 underlying)
Footnotes (6)
- [F1]Disposed of pursuant to the Agreement and Plan of Merger ("Merger Agreement"), dated as of October 28, 2025, by and among Olympic Steel, Inc. (the "Company"), Ryerson Holding Corporation ("Parent"), and Crimson MS Corp. At the effective time of the merger, each share of the Company's common stock, without par value ("Company common stock"), that was issued and outstanding immediately prior to the effective time of the merger was converted into the right to receive a number of shares of common stock, $0.01 par value per share, of Parent ("Parent common stock"), multiplied by 1.7105 (rounded down to the nearest whole share), plus a cash payment (rounded down to the nearest cent) in lieu of any fractional shares as determined pursuant to the Merger Agreement.
- [F2]Each restricted share unit ("RSU") represents the contingent right to receive one share of Company common stock.
- [F3]These RSUs are fully vested and will generally be settled upon the Reporting Person's separation from service. Pursuant to the Merger Agreement, these RSUs were converted into RSUs with respect to Parent common stock by multiplying the number of shares of Company common stock underlying the award by 1.7105 (rounded down to the nearest whole share).
- [F4]These RSUs generally vest on December 31, 2026, subject to the Reporting Person's continued employment and will be settled within 90 days following the applicable vesting date. Pursuant to the Merger Agreement, these RSUs were converted into RSUs with respect to Parent common stock by multiplying the number of shares of Company common stock underlying the award by 1.7105 (rounded down to the nearest whole share).
- [F5]These RSUs generally vest on December 31, 2027, subject to the Reporting Person's continued employment and will be settled within 90 days following the applicable vesting date. Pursuant to the Merger Agreement, these RSUs were converted into RSUs with respect to Parent common stock by multiplying the number of shares of Company common stock underlying the award by 1.7105 (rounded down to the nearest whole share).
- [F6]These RSUs are fully vested. Pursuant to the Merger Agreement, these RSUs were converted into RSUs with respect to Parent common stock by multiplying the number of shares of Company common stock underlying the award by 1.7105 (rounded down to the nearest whole share) and then cancelled in exchange for a cash payment equal to the number of shares of Parent common stock underlying the award, multiplied by the closing price per share of Parent common stock on February 13, 2026 (less applicable taxes), payable within 30 days of such date.