Greiff Andrew S 4

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.