Steel Dynamics director just picked up 254 shares

Frank D Byrne, a director of Steel Dynamics, recently acquired 254 shares of the company. The buys took place at $0.00 per share (and therefore, likely the result of option or restricted share grants), on October 09, 2015. Byrne now owns 59,067 shares of the company. Byrne operates out of Fort Wayne, IN. Some additional info was provided as follows:

Represents the number of additional shares of common stock underlying deferred stock units (DSUs) issued to the reporting person as a dividend equivalent on existing DSUs, in connection with this person's retainer as a director under the Steel Dynamics, Inc. 2015 Equity Incentive Plan (the "Plan"). This transaction is exempt from both the reporting requirements of Section 16(a), including Rule 16a-11, and the provisions o f Section 16(b), by virtue of this dividend reinvestment feature of the Plan and the Company's existing Dividend Reinvestment Plan, as well as being exempt from Section 16(b) independently by virtue of Rule 16b-3(d)(1) and (3). Reportable as directly owned shares of common stock, rather than as a derivative security in Table II, because any and all underlying DSUs are payable, at such time as they are to be settled, solely in shares of common stock. (See Lincoln National Corp. (March 20, 1992) (Q.3). Includes shares resulting from reinvestment of dividends on any underlying DSUs included in this total.

The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here. Steel Dynamics next reports earnings on October 19, 2015.

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