Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-05-08

Steel Dynamics (STLD)

CEO Mark Millett was paid $12,059,908 in fiscal year 2025, ↑ up 2.4% from fiscal year 2024, the 9th percentile of its disclosed peer group (SEC filing 0001104659-26-035826 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$12,059,908 ↑
Mark Millett total, FY2025
9th
CEO pay percentile vs peers
115:1
CEO-to-median pay ratio
94.14%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Mark Millett (Chairman and Chief Executive Officer), FY2025 total compensation $12,059,908 (base salary $1,535,000) [exec_comp, SEC accession 0001104659-26-035826, filed 2026-03-27]

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STLD's next annual pay disclosure, estimated April 10, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Mark Millett$1,535,000—$5,095,406—$5,372,500—$57,002$12,059,908
Chairman and Chief Executive Officer
Barry Schneider925,000—2,774,800—3,237,500—49,0436,986,343
President and Chief Operating Officer
Theresa Wagler850,000—2,643,206—2,975,000—49,1266,517,332
Executive Vice President, Chief Financial Officer and Corporate Secretary
Glenn Pushis705,000—1,877,443—2,115,000—49,6054,747,048
Former Senior Vice President, Special Projects
Christopher Graham705,000—2,074,969—1,410,000—50,3374,240,306
Senior Vice President, Flat Roll Steel Group

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Mark Millett$12,059,908$11,782,886$11,823,662↑ +277,022
Barry Schneider6,986,3436,774,9026,336,441↑ +211,441
Theresa Wagler6,517,3326,255,8655,912,131↑ +261,467
Glenn Pushis4,747,0484,573,3754,442,991↑ +173,673
Christopher Graham4,240,3064,236,5094,306,985↑ +3,797

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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Companies that benchmark against STLD
10 companies name STLD as a compensation peer

Each company listed discloses STLD in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named STLD in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Bradley S. SeamanIndependent Director$347,597
Gabriel L. ShaheenIndependent Director$327,597
Jennifer L. HamannIndependent Director$327,597
Kenneth W. CornewIndependent Director$387,597
Luis M. SierraIndependent Director$337,597
Richard P. Teets JrDirector$327,597
Sheree L. BargabosIndependent Director$327,597
Traci M. DolanIndependent Director$352,597
02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Mark MillettPSU2025-02-20—24,000—47,999$2,686,320
Christopher GrahamPSU2025-02-20—9,448—18,8961,057,515
Theresa WaglerPSU2025-02-20—13,290—26,5801,487,550
Christopher GrahamRSU2025-02-20——5,834—767,717
Mark MillettRSU2025-11-21——569—87,120
Glenn PushisPSU2025-02-20—9,448—18,8961,057,515
Glenn PushisRSU2025-02-20——5,834—767,717
Barry SchneiderRSU2025-11-21——569—84,918
Theresa WaglerRSU2025-11-21——455—67,904
Barry SchneiderPSU2025-02-20—14,463—28,9251,618,844
Barry SchneiderRSU2025-02-20——8,139—1,071,038
Christopher GrahamRSU2025-11-21——341—52,211
Glenn PushisRSU2025-11-21——341—52,211
Mark MillettRSU2025-02-20——17,645—2,321,966
Theresa WaglerRSU2025-02-20——8,266—1,087,752
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Mark Millett$2,409,086$2,686,320$052.7%
Christopher Graham819,9281,057,515056.3%
Theresa Wagler1,155,6561,487,550056.3%
Glenn Pushis819,9281,057,515056.3%
Barry Schneider1,155,9561,618,844058.3%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Mark MillettRSU17,645—$2,989,945
Mark MillettPSU24,000—4,066,800
Theresa WaglerRSU9,120—1,545,384
Christopher GrahamRSU3,742—634,082
Mark MillettPSU11,848—2,007,644
Christopher GrahamRSU733—124,207
Glenn PushisRSU5,834—988,571
Theresa WaglerPSU13,025—2,207,086
Mark MillettRSU19,771—3,350,196
Barry SchneiderPSU14,463—2,450,755
Theresa WaglerPSU13,290—2,251,991
Christopher GrahamPSU9,448—1,600,964
Mark MillettRSU6,188—1,048,557
Glenn PushisPSU9,448—1,600,964
Mark MillettRSU9,262—1,569,446
Theresa WaglerRSU8,266—1,400,674
Barry SchneiderPSU8,452—1,432,191
Christopher GrahamPSU8,452—1,432,191
Theresa WaglerRSU5,884—997,044
Barry SchneiderRSU8,139—1,379,154
Christopher GrahamRSU6,537—1,107,695
Barry SchneiderRSU3,742—634,082
Glenn PushisRSU6,537—1,107,695
Christopher GrahamRSU5,834—988,571
Theresa WaglerRSU3,742—634,082
Barry SchneiderRSU569—96,417
Mark MillettRSU4,989—845,386
Barry SchneiderRSU4,368—740,158
Christopher GrahamRSU4,368—740,158
Barry SchneiderRSU604—102,348
Theresa WaglerRSU484—82,014
Theresa WaglerRSU455—77,100
05

Incentive-plan design — the Compensation Discussion & Analysis

Our compensation program is designed to achieve our financial, operational and strategic business objectives, with a pay-for-performance philosophy that aligns executive interests with shareholders through equity-based long-term incentives.

CEO STI target (% of salary)175%
CEO LTI target (% of salary)—
Independent consultantPearl Meyer & Partners, LLC
Clawback policy—
Anti-hedging—
Anti-pledging—
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-06114,604,6547,138,942424,15794.14%Passed
20252025-04-25114,802,3179,001,071407,05392.73%Passed
20242024-05-09123,502,26510,472,095778,45492.18%Passed
20232023-05-11132,030,43211,134,656913,77792.22%Passed
20222022-05-05151,929,9638,893,584225,52294.34%Passed
20212021-05-19155,486,39210,747,748195,88493.42%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-0694.14%a
20252025-04-2592.73%b
20242024-05-0992.18%c

a. Approved under the standard stated in the filing — “Abstentions and broker non-votes will not be counted as votes cast either "for" or "against" a director's election and therefore will have no effect on the outcome.”.

b. Approved under the standard stated in the filing — “Abstentions and broker non-votes will not be counted as votes cast either "for" or "against" a director's election and therefore will have no effect on the outcome.”.

c. Approved under the standard stated in the filing — “Abstentions and broker non-votes will not be counted as votes cast either "for" or "against" a director's election and therefore will have no effect on the outcome.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)115 : 1
CEO total compensation$12,059,908
Median employee compensation$104,530
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Kenneth W. CornewIndependent · Compensation · Nominating/Governance$202,500$185,097———$387,597
Traci M. DolanIndependent · Audit (Chair) · Nominating/Governance167,500185,097———352,597
Bradley S. SeamanIndependent · Compensation · Nominating/Governance (Chair)162,500185,097———347,597
Luis M. SierraIndependent · Audit · Compensation (Chair)152,500185,097———337,597
Sheree L. BargabosIndependent · Audit · Compensation142,500185,097———327,597
Jennifer L. HamannIndependent · Audit · Nominating/Governance142,500185,097———327,597
Richard P. Teets Jr142,500185,097———327,597
Gabriel L. ShaheenIndependent · Audit · Compensation142,500185,097———327,597
Mark D. MillettEmployee director · Board Chair—————0
09

Board fee structure and ownership guideline

Annual cash retainer$150,000
Annual equity retainer$185,097
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)25,000 / 20,000 / 20,000
Stock ownership guideline$750,000
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,255,000
Equity awards (grant-date value)$1,480,776
All other compensation$0
Total cost of the board$2,735,776

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Steel Dynamics names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Steel Dynamics.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Cummins, Inc.2025Jennifer Rumsey$1,533,750$6,429,004$0$6,975,656$19,905,532
2AGCO Corporation2025Eric Hansotia1,400,00013,215,92203,651,20019,657,541
3Cleveland-Cliffs Inc.2025Lourenco Goncalves2,201,00012,874,37403,345,52019,023,041
4Newmont Corporation2025Tom Palmer1,435,00010,094,35103,339,60415,625,168
5Illinois Tool Works Inc.2025Christopher A. O'Herlihy1,337,2715,249,9575,249,9962,702,38915,211,011
6Nucor Corporation2025Leon J. Topalian1,560,0008,895,2732,000,0002,486,20314,945,471
7Freeport-McMoRan Inc.2025Kathleen Quirk1,400,00011,631,59001,400,70014,808,126
8Alcoa Corporation2025William Oplinger1,298,9259,899,06902,314,68414,002,088
9Reliance, Inc.2025Karla Lewis1,325,0007,653,35002,072,30013,374,389
10PACCAR Inc2025R. Preston Feight1,690,3854,900,5002,174,4851,326,52112,618,865
11Steel Dynamics2025Mark Millett1,535,0005,095,406—5,372,50012,059,908
12Commercial Metals Company2025Peter Matt1,084,6165,505,80501,322,5308,022,901
—United States Steel Corporation——————not in coverage universe

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Steel Dynamics350%PSU 53 · RSU 47NoPearl Meyer & Partners, LLC
AGCO Corporation163%not disclosedNoKorn Ferry
Alcoa Corporation118.8%PSU 60 · RSU 40Yes — Relative TSRPay Governance
Cleveland-Cliffs Inc.not disclosedPerformance Cash 34 · PSU 33 · RSU 33not disclosedPearl Meyer & Partners, LLC
Commercial Metals Companynot disclosednot disclosednot disclosedFW Cook
Cummins, Inc.90%PSU 70 · Cash LTI 30NoFarient
Freeport-McMoRan Inc.66.7%PSU 75 · RSU 25NoFW Cook
Illinois Tool Works Inc.not disclosedPSU 50 · Options 50NoMeridian Compensation Partners LLC
Newmont Corporation155.15%PSU 67 · RSU 33Yes — Absolute TSRFW Cook
Nucor Corporation177.08%Cash LTI 50NoPearl Meyer & Partners, LLC
PACCAR Inc62.7%not disclosedNoThe Committee typically retains a compensation consultant to assess the competitiveness of the Company's compensation programs every two years. It did not employ a compensation consultant in 2025.
Reliance, Inc.156.4%PSU 80 · RSU 20NoPay Governance LLC
United States Steel Corporationnot disclosednot disclosednot disclosednot disclosed

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

10d

Frequently asked questions

Who was the highest-paid executive at Steel Dynamics in fiscal 2025?
As disclosed, Mark Millett (Chairman and Chief Executive Officer) was the highest-paid executive at Steel Dynamics in fiscal 2025, with total compensation of $12,059,908.
How does Steel Dynamics's chief executive pay compare to its disclosed peer group?
As disclosed, Mark Millett's total compensation ranked at the 9th percentile of Steel Dynamics's disclosed peer group.
What is Steel Dynamics's CEO-to-median employee pay ratio?
As disclosed, Steel Dynamics's CEO-to-median employee pay ratio was 115:1.
How did shareholders vote on Steel Dynamics's executive compensation?
As disclosed, 94.14% of shareholders supported Steel Dynamics's executive compensation in the latest say-on-pay vote.
How much does Steel Dynamics spend in total on board compensation for fiscal 2025?
As disclosed, Steel Dynamics reported total board compensation of $2,735,776 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Mark MillettDEF 14A2026-03-270001104659-26-035826Section “Compensation Tables” · page 60. As printed: 12,059,908. Filing ↗
2Section 01, Barry SchneiderDEF 14A2026-03-270001104659-26-035826Section “Compensation Tables” · page 60. As printed: 6,986,343. Filing ↗
3Section 01, Theresa WaglerDEF 14A2026-03-270001104659-26-035826Section “Compensation Tables” · page 60. As printed: 6,517,332. Filing ↗
4Section 01, Glenn PushisDEF 14A2026-03-270001104659-26-035826Section “Compensation Tables” · page 60. As printed: 4,747,048. Filing ↗
5Section 01, Christopher GrahamDEF 14A2026-03-270001104659-26-035826Section “Compensation Tables” · page 60. As printed: 4,240,306. Filing ↗
6Section 03, Mark Millett PSUDEF 14A2026-03-270001104659-26-035826Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t189 · r2 · c3 · span 848429–848438
7Section 03, Christopher Graham PSUDEF 14A2026-03-270001104659-26-035826Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t189 · r5 · c3 · span 856368–856377
8Section 03, Theresa Wagler PSUDEF 14A2026-03-270001104659-26-035826Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t189 · r3 · c3 · span 851055–851064
9Section 03, Christopher Graham RSUDEF 14A2026-03-270001104659-26-035826Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t204 · r23 · c21 · span 1246695–1246700
10Section 03, Mark Millett RSUDEF 14A2026-03-270001104659-26-035826Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t204 · r9 · c23 · span 1145350–1145356
11Section 03, Glenn Pushis PSUDEF 14A2026-03-270001104659-26-035826Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t189 · r6 · c3 · span 859040–859049
12Section 03, Glenn Pushis RSUDEF 14A2026-03-270001104659-26-035826Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t204 · r28 · c23 · span 1282754–1282761
13Section 03, Barry Schneider RSUDEF 14A2026-03-270001104659-26-035826Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t204 · r19 · c23 · span 1217605–1217611
14Section 03, Theresa Wagler RSUDEF 14A2026-03-270001104659-26-035826Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t204 · r14 · c23 · span 1182617–1182623
15Section 03, Barry Schneider PSUDEF 14A2026-03-270001104659-26-035826Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t189 · r4 · c3 · span 853732–853741
16Section 03, Barry Schneider RSUDEF 14A2026-03-270001104659-26-035826Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t204 · r18 · c23 · span 1210495–1210504
17Section 03, Christopher Graham RSUDEF 14A2026-03-270001104659-26-035826Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t204 · r24 · c21 · span 1254257–1254260
18Section 03, Glenn Pushis RSUDEF 14A2026-03-270001104659-26-035826Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t204 · r29 · c23 · span 1289862–1289868
19Section 03, Mark Millett RSUDEF 14A2026-03-270001104659-26-035826Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t204 · r8 · c21 · span 1137656–1137662
20Section 03, Theresa Wagler RSUDEF 14A2026-03-270001104659-26-035826Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t204 · r13 · c21 · span 1174430–1174435
21Section 07, pay ratioDEF 14A2026-03-270001104659-26-035826Section “CEO Pay Ratio”. As printed: 115 : 1. Filing ↗
22Section 08, Kenneth W. CornewDEF 14A2026-03-270001104659-26-035826Section “Director Compensation”. As printed: 387,597. Filing ↗machine: span 531452–531622
23Section 08, Traci M. DolanDEF 14A2026-03-270001104659-26-035826Section “Director Compensation”. As printed: 352,597. Filing ↗machine: span 534111–534281
24Section 08, Bradley S. SeamanDEF 14A2026-03-270001104659-26-035826Section “Director Compensation”. As printed: 347,597. Filing ↗machine: span 539626–539796
25Section 08, Luis M. SierraDEF 14A2026-03-270001104659-26-035826Section “Director Compensation”. As printed: 337,597. Filing ↗machine: span 545138–545308
26Section 08, Sheree L. BargabosDEF 14A2026-03-270001104659-26-035826Section “Director Compensation”. As printed: 327,597. Filing ↗machine: span 528600–528770
27Section 08, Jennifer L. HamannDEF 14A2026-03-270001104659-26-035826Section “Director Compensation”. As printed: 327,597. Filing ↗machine: span 536964–537134
28Section 08, Richard P. Teets JrDEF 14A2026-03-270001104659-26-035826Section “Director Compensation”. As printed: 327,597. Filing ↗machine: span 547994–548164
29Section 08, Gabriel L. ShaheenDEF 14A2026-03-270001104659-26-035826Section “Director Compensation”. As printed: 327,597. Filing ↗machine: span 542479–542649
30Section 08, Mark D. MillettDEF 14A2026-03-270001104659-26-035826Section “Director Compensation”. As printed: 0. Filing ↗
31Section 06, 2026 voteForm 8-K2026-05-080001104659-26-057616Item 5.07 · say-on-pay result. As reported: 94.14% (votes for as printed: 114,604,654). Filing ↗
32Section 06, 2025 voteForm 8-K2025-04-290001104659-25-040917Item 5.07 · say-on-pay result. As reported: 92.73% (votes for as printed: 114,802,317). Filing ↗
33Section 06, 2024 voteForm 8-K2024-05-140001104659-24-060930Item 5.07 · say-on-pay result. As reported: 92.18% (votes for as printed: 123,502,265). Filing ↗
34Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
35Section 03b vehicle mix (computed)Computed——RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
36Section 09b board cost (computed)Computed——Cash 1,255,000 + equity 1,480,776 + all other 0 = 2,735,776, summed across the director compensation table rows.machine: formula: Σ = 2,735,776
37Cummins, Inc., Section 10b CEO totalDEF 14A2026-04-020001104659-26-039158CEO total compensation as printed in Cummins, Inc.'s own proxy. As printed: 19,905,532. Filing ↗machine: t135 · r1 · c47 · span 1108458–1108468
38AGCO Corporation, Section 10b CEO totalDEF 14A2026-03-120000880266-26-000023CEO total compensation as printed in AGCO Corporation's own proxy. As printed: 19,657,541. Filing ↗machine: r2 · c24 · span 895777–895787
39Cleveland-Cliffs Inc., Section 10b CEO totalDEF 14A2026-04-020000764065-26-000054CEO total compensation as printed in Cleveland-Cliffs Inc.'s own proxy. As printed: 19,023,041. Filing ↗machine: r2 · c21 · span 734265–734275
40Newmont Corporation, Section 10b CEO totalDEF 14A2026-03-260001104659-26-035211CEO total compensation as printed in Newmont Corporation's own proxy. As printed: 15,625,168. Filing ↗
41Illinois Tool Works Inc., Section 10b CEO totalDEF 14A2026-03-270001193125-26-127599CEO total compensation as printed in Illinois Tool Works Inc.'s own proxy. As printed: 15,211,011. Filing ↗machine: span 1647874–1647884
42Nucor Corporation, Section 10b CEO totalDEF 14A2026-03-270001193125-26-127739CEO total compensation as printed in Nucor Corporation's own proxy. As printed: 14,945,471. Filing ↗machine: t120 · r3 · c39 · span 919349–919359
43Freeport-McMoRan Inc., Section 10b CEO totalDEF 14A2026-04-230001193125-26-173666CEO total compensation as printed in Freeport-McMoRan Inc.'s own proxy. As printed: 14,808,126. Filing ↗machine: r3 · c27 · span 1150389–1150400
44Alcoa Corporation, Section 10b CEO totalDEF 14A2026-03-190001193125-26-115997CEO total compensation as printed in Alcoa Corporation's own proxy. As printed: 14,002,088. Filing ↗machine: span 2023002–2023012
45Reliance, Inc., Section 10b CEO totalDEF 14A2026-04-020001104659-26-039140CEO total compensation as printed in Reliance, Inc.'s own proxy. As printed: 13,374,389. Filing ↗machine: r1 · c42 · span 1142690–1142700
46PACCAR Inc, Section 10b CEO totalDEF 14A2026-03-180001193125-26-113876CEO total compensation as printed in PACCAR Inc's own proxy. As printed: 12,618,865. Filing ↗machine: r2 · c27 · span 838577–838587
47Steel Dynamics (subject), Section 10b CEO totalDEF 14A2026-03-270001104659-26-035826CEO total compensation as printed in Steel Dynamics's own proxy. As printed: 12,059,908. Filing ↗
48Commercial Metals Company, Section 10b CEO totalDEF 14A2025-11-250001193125-25-294507CEO total compensation as printed in Commercial Metals Company's own proxy. As printed: 8,022,901. Filing ↗machine: span 1941989–1941998
49Section 10a, Nucor Corporation reciprocityDEF 14A—0001193125-26-127739Nucor Corporation names Steel Dynamics in its own disclosed peer group (read from its most recent proxy). Filing ↗
50Section 10a, Newmont Corporation reciprocityDEF 14A—0001104659-26-035211Newmont Corporation's most recent proxy was read; its disclosed peer group does not include Steel Dynamics. Filing ↗
51Section 10a, Alcoa Corporation reciprocityDEF 14A—0001193125-26-115997Alcoa Corporation names Steel Dynamics in its own disclosed peer group (read from its most recent proxy). Filing ↗
52Section 10a, Cleveland-Cliffs Inc. reciprocityDEF 14A—0000764065-26-000054Cleveland-Cliffs Inc. names Steel Dynamics in its own disclosed peer group (read from its most recent proxy). Filing ↗
53Section 10a, PACCAR Inc reciprocityDEF 14A—0001193125-26-113876PACCAR Inc's most recent proxy was read; its disclosed peer group does not include Steel Dynamics. Filing ↗
54Section 10a, Commercial Metals Company reciprocityDEF 14A—0001193125-25-294507Commercial Metals Company names Steel Dynamics in its own disclosed peer group (read from its most recent proxy). Filing ↗
55Section 10a, Cummins, Inc. reciprocityDEF 14A—0001104659-26-039158Cummins, Inc.'s most recent proxy was read; its disclosed peer group does not include Steel Dynamics. Filing ↗
56Section 10a, Reliance, Inc. reciprocityDEF 14A—0001104659-26-039140Reliance, Inc. names Steel Dynamics in its own disclosed peer group (read from its most recent proxy). Filing ↗
57Section 10a, Freeport-McMoRan Inc. reciprocityDEF 14A—0001193125-26-173666Freeport-McMoRan Inc.'s most recent proxy was read; its disclosed peer group does not include Steel Dynamics. Filing ↗
58Section 10a, Illinois Tool Works Inc. reciprocityDEF 14A—0001193125-26-127599Illinois Tool Works Inc.'s most recent proxy was read; its disclosed peer group does not include Steel Dynamics. Filing ↗
59Section 10a, AGCO Corporation reciprocityDEF 14A—0000880266-26-000023AGCO Corporation's most recent proxy was read; its disclosed peer group does not include Steel Dynamics. Filing ↗

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