Form 4: Steel Dynamics Executive Vice President Exercises Stock Appreciation Rights
SEC Form 4 Filing
Theresa E. Wagler, Executive Vice President & CFO of Steel Dynamics Inc., reports the exercise of stock appreciation rights and subsequent disposition of shares.
Summary
- Theresa E. Wagler, Executive Vice President & CFO of Steel Dynamics Inc. (STLD), filed a Form 4 detailing changes in beneficial ownership.
- On March 21, 2024, Wagler exercised stock appreciation rights (SARs) that were previously granted.
- The exercise involved two tranches of SARs with exercise prices of $29.13 and $42.83.
- Wagler acquired 3,269 shares at $29.13 and disposed of 3,269 shares at $142.72.
- Additionally, Wagler acquired 6,913 shares at $42.83 and disposed of 6,913 shares at $142.72.
- Following these transactions, Wagler directly owns 460,882 shares of Steel Dynamics Inc.
Sentiment
Score: 5
Explanation: Neutral sentiment as the filing reflects routine executive compensation activity.
Positives
- The exercise of stock appreciation rights indicates Wagler's belief in the company's future performance.
- The cash-settled exercise provides Wagler with immediate liquidity.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions. This filing indicates the CFO's activity in exercising previously granted stock appreciation rights.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders, as it is a routine executive compensation matter.
Key Dates
| Date | Description |
|---|---|
| 02/20/2021 | Grant date of some of the stock appreciation rights exercised. |
| 02/24/2022 | Grant date of some of the stock appreciation rights exercised. |
| 03/21/2024 | Date of the stock appreciation rights exercise and share disposition. |
| 02/20/2030 | Expiration date of some of the stock appreciation rights exercised. |
| 02/24/2031 | Expiration date of some of the stock appreciation rights exercised. |
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