Alvarez Miguel 4

4 · STEEL DYNAMICS INC · Filed Mar 13, 2026

AI-generated summary of this filing

Updated Mar 13, 2026

Steel Dynamics SVP Miguel Alvarez Receives Award; 7,232 Shares Withheld

What Happened

Miguel Alvarez, Senior Vice President of Steel Dynamics (STLD), was granted 16,479 shares as an equity award on 2026-03-13 (code A). At the same time, 7,232 of those shares were withheld (disposed, code F) to satisfy his tax withholding obligation at a per-share value of $182.19, totaling $1,317,598. The award shares were granted at $0.00 per share (i.e., awarded, not purchased). Net from this grant, 9,247 shares remained after withholding.

Key Details

Transaction dates: 2026-03-13 (grant and withholding); filing date: 2026-03-13 (filed same day).
Award: 16,479 shares acquired at $0.00 (code A).
Withholding: 7,232 shares disposed at $182.19 per share, total value $1,317,598 (code F).
Net shares retained from this grant: 9,247 (16,479 awarded − 7,232 withheld).
Shares owned after the transaction: not stated in the filing.
Footnotes: F1 indicates the award was granted under the company’s Long‑Term Incentive Program and is exempt under Rule 16b‑3(d); F2 confirms the withheld shares were used to pay the reporting person’s tax withholding and are exempt under Rule 16b‑3(e).

Context

This is a standard equity compensation event (award + share withholding to cover taxes), not an open‑market sale or purchase. Withholding of shares to satisfy taxes is common with vesting awards and does not necessarily indicate a change in the insider’s view of the company.

Form 4

Period: 2026-03-13

Senior Vice President

Transactions

Award
Common Stock
[F1]
2026-03-13+16,479→ 134,314 total
Tax Payment
Common Stock
[F2]
2026-03-13$182.19/sh−7,232$1,317,598→ 127,082 total

Footnotes (2)

[F1]Acquisition from Issuer: Shares awarded under Long-Term Incentive Program adopted by Compensation Committee composed of three or more independent non-employee directors pursuant to the Company's 2023 Equity Incentive Plan approved by Compensation Committee and Stockholders and exempt from Section 16(b) of Exchange Act pursuant to Rule 16b-3(d).
[F2]Disposition to Issuer: Shares withheld by Issuer in payment of reporting person's withholding tax liability in connection with such person's receipt or vesting of an equity security, and either approved in advance by Compensation Committee or mandated by the express terms of the Plan and exempt from Section 16(b) of Exchange Act in accordance with Exchange Act Rule 16b-3(e).

Signature

/s/ Miguel Alvarez|2026-03-13

1 file