STEEL DYNAMICS INC — Director's Dealing 2021

May 14, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: STEEL DYNAMICS INC (STLD)
CIK: 0001022671
Period of Report: 2021-05-12

Reporting Person: MILLETT MARK D (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-12	Common Stock	M	56000	$18.57	Acquired	3383887	Direct
2021-05-12	Common Stock	D	56000	$64.34	Disposed	3327887	Direct
2021-05-12	Common Stock	M	100000	$37.53	Acquired	3427887	Direct
2021-05-12	Common Stock	D	100000	$64.34	Disposed	3327887	Direct
2021-05-12	Common Stock	M	185000	$46.79	Acquired	3512887	Direct
2021-05-12	Common Stock	D	185000	$64.34	Disposed	3327887	Direct
2021-05-12	Common Stock	M	138752	$35.76	Acquired	3466639	Direct
2021-05-12	Common Stock	D	138752	$64.34	Disposed	3327887	Direct
2021-05-12	Common Stock	M	57546	$29.13	Acquired	3385433	Direct
2021-05-12	Common Stock	D	57546	$64.34	Disposed	3327887	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-05-12	Stock Appreciation Right	$18.57	M	56000	Disposed	2026-02-17	Common Stock (56000)	Direct
2021-05-12	Stock Appreciation Right	$37.53	M	100000	Disposed	2027-02-17	Common Stock (100000)	Direct
2021-05-12	Stock Appreciation Right	$46.79	M	185000	Disposed	2028-02-15	Common Stock (185000)	Direct
2021-05-12	Stock Appreciation Right	$35.76	M	138752	Disposed	2029-02-11	Common Stock (138752)	Direct
2021-05-12	Stock Appreciation Right	$29.13	M	57546	Disposed	2030-02-20	Common Stock (57546)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	130700	Indirect

Footnotes

F1: Deemed acquisition of underlying shares from issuer by Reporting Person, upon exercise of stock appreciation rights granted in a transaction exempt from Section 16(b) pursuant to Rule 16b-3(d), approved in advance by a Committee comprised solely of two or more Non-Employee directors; also exempt pursuant to Rule 16b-6(b).

F2: Deemed disposition of underlying shares by Reporting Person to issuer upon cash-settled exercise of stock appreciation rights, approved in advance by a Committee comprised solely of two or more Non-Employee directors, exempt from Section 16(b) pursuant to Rule 16b-3(d) and Rule 16b-3e.

F3: Exempt exercise of stock appreciation rights granted in a transaction exempt from Section 16(b) pursuant to Rule 16b-3(d).