Form 4: Olympic Steel COO Converts RSUs, Sells Shares for Tax

Olympic Steel's President and COO, Andrew S. Greiff, converted 6,000 Restricted Share Units into common stock and disposed of shares for tax withholding on January 1, 2026.

Summary

• Andrew S. Greiff, President and COO of Olympic Steel, Inc. (ZEUS), reported transactions on January 1, 2026.
• 6,000 Restricted Share Units (RSUs), granted on January 1, 2023, vested and converted into 6,000 shares of common stock on a one-for-one basis.
• Concurrently, 2,928 shares of common stock were disposed of at a price of $42.78 per share, which is typically for tax withholding purposes related to the RSU vesting.
• Following these transactions, Greiff directly beneficially owns 15,090 shares of common stock.
• Greiff also directly beneficially owns 44,121 Restricted Share Units, which includes previously granted RSUs with different vesting and payment terms.
• The total number of RSUs beneficially owned reflects a transfer of 30,330 RSUs by Greiff to his ex-spouse pursuant to a qualified domestic relations order.

Sentiment

Score: 7

Explanation: The filing reports the routine vesting of executive Restricted Share Units and subsequent share disposition for tax purposes, reflecting standard compensation practices without indicating any new strategic or operational developments for the company.

Positives

• Vesting of 6,000 Restricted Share Units (RSUs) indicates a successful long-term incentive compensation payout for the President and COO.

Negatives

• Disposal of 2,928 shares of common stock at $42.78 per share, likely for tax withholding, reduces direct share ownership.
• A transfer of 30,330 Restricted Share Units (RSUs) was made to an ex-spouse pursuant to a qualified domestic relations order, reducing the reporting person's total RSU holdings.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: The conversion of RSUs to common stock results in a minor increase in outstanding shares, which is a standard part of equity compensation plans. The subsequent sale for tax purposes is a small volume and unlikely to have a material impact on the stock price.
• Employees: This filing demonstrates the execution of the company's long-term incentive compensation plan for executives, which can serve as a benchmark for other employees' equity compensation structures.

Key Dates

Recommendation

This Form 4 filing details a routine executive compensation event involving the vesting of Restricted Share Units and a subsequent sale of shares for tax withholding. It does not provide new material information regarding the company's operational performance, financial health, or strategic direction that would warrant a change in investment recommendation. The transactions are expected and part of standard executive incentive plans.

Keywords

Olympic Steel, ZEUS, Form 4, Insider Trading, Restricted Share Units, RSU Conversion, Stock Transaction, Executive Compensation, Andrew S. Greiff