OLYMPIC STEEL INC — Director's Dealing 2012

Jan 5, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: OLYMPIC STEEL INC (ZEUS)
CIK: 0000917470
Period of Report: 2012-01-03

Reporting Person: MEATHE JAMES (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-01-03	Restricted Share Units	$	A	1800	Acquired		Common Stock (1800)	Direct

Footnotes

F1: Each restricted share unit represents the right to recieve one share of Olympic Steel, Inc. common stock.

F2: The restricted share units generally vest January 1, 2013, subject to earlier vesting in certain circumstances set forth in the award agreement, but will not be delivered to the reporting person until the reporting person ceases to be a member of the Board of Directors.