STEEL DYNAMICS INC — Director's Dealing 2021

May 3, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: STEEL DYNAMICS INC (STLD)
CIK: 0001022671
Period of Report: 2021-04-29

Reporting Person: RINN RUSSELL B (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-04-29	Common Stock	M	14000	$18.57	Acquired	264017	Direct
2021-04-29	Common Stock	D	14000	$55.13	Disposed	250017	Direct
2021-04-29	Common Stock	M	25000	$37.53	Acquired	275017	Direct
2021-04-29	Common Stock	D	25000	$55.13	Disposed	250017	Direct
2021-04-29	Common Stock	M	25000	$46.79	Acquired	275017	Direct
2021-04-29	Common Stock	D	25000	$55.13	Disposed	250017	Direct
2021-04-29	Common Stock	M	18063	$35.76	Acquired	268080	Direct
2021-04-29	Common Stock	D	18063	$55.13	Disposed	250017	Direct
2021-04-29	Common Stock	M	11511	$29.13	Acquired	261528	Direct
2021-04-29	Common Stock	D	11511	$55.13	Disposed	250017	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-04-29	Stock Appreciation Right	$18.57	M	14000	Disposed	2026-02-17	Common Stock (14000)	Direct
2021-04-29	Stock Appreciation Right	$37.53	M	25000	Disposed	2027-02-17	Common Stock (25000)	Direct
2021-04-29	Stock Appreciation Right	$46.79	M	25000	Disposed	2028-02-15	Common Stock (25000)	Direct
2021-04-29	Stock Appreciation Right	$35.76	M	18063	Disposed	2029-02-11	Common Stock (18063)	Direct
2021-04-29	Stock Appreciation Right	$29.13	M	11511	Disposed	2030-02-20	Common Stock (11511)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2000	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).