STEEL DYNAMICS INC — Director's Dealing 2012

Jun 5, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: STEEL DYNAMICS INC (STLD)
CIK: 0001022671
Period of Report: 2012-06-01

Reporting Person: Shaheen Gabriel (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-06-01	Deferred Stock Units	$0	A	8539	Acquired		Common Stock (8539)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Deferred Stock Units	$0		Common Stock (5419)	5419	Direct

Footnotes

F1: Pursuant to registrant's 2006 Equity Incentive Plan, as amended, in respect to the reporting person's continuing service as a non-employee director and as a portion of his annual retainer, the reporting person on June 1 was granted an exempt award of Deferred Stock Units ("DSUs"). The number of DSUs granted was determined by dividing $90,000 by the closing price of registrant's common stock on the day preceding the grant date.

F2: The reporting person, by prior election, chose to receive his common stock, when converted from DSUs, at the expiration of one year following the reporting person's termination of service as a director.

F3: Each whole DSU represents registrant's unsecured and unfunded obligation, upon the expiration of the reporting person's deferral period election, to convert and issue to the reporting person one share of registrant's common stock for each DSU. The DSUs are 100% vested on the grant date.

F4: Reflects prior grant of DSUs.