Steel Dynamics Inc. Invites Shareholders to 2024 Annual Meeting

TL;DR

<b>Steel Dynamics, Inc. announced its 2024 Annual Meeting details and highlighted strong 2023 financial and safety performance.</b>

AI Summary

STEEL DYNAMICS INC (STLD) filed a Proxy Statement (DEF 14A) with the SEC on March 28, 2024. Steel Dynamics, Inc. will hold its 2024 Annual Meeting on May 9, 2024, at 9:00 am ET in Fort Wayne, Indiana. The company achieved a record low companywide total recordable injury rate in 2023, with nearly 60% of facilities operating injury-free for the year. Steel Dynamics reported strong performance in 2023, with its second-highest sales of $18.8 billion. The company achieved an after-tax return on invested capital of 32% for the three-year period ending December 31, 2023. The filing is a Definitive Proxy Statement (DEF 14A) filed on March 28, 2024.

Why It Matters

For investors and stakeholders tracking STEEL DYNAMICS INC, this filing contains several important signals. Shareholders are invited to the annual meeting to vote on company matters and hear updates on performance and strategy. The company's emphasis on safety and its strong financial results, including a high return on invested capital, are key points of discussion for investors.

Risk Assessment

Risk Level: low — STEEL DYNAMICS INC shows low risk based on this filing. The filing is a routine proxy statement with no new material negative information, indicating a low risk of adverse market reaction based on this document alone.

Analyst Insight

Shareholders should review the proxy materials for voting recommendations and details on executive compensation and governance proposals.

Key Numbers

• 2024-05-09 — Annual Meeting Date (2024 Annual Meeting date)
• 2023-12-31 — Reporting Period End Date (End date for performance reporting)
• $18.8 billion — 2023 Sales (Second highest sales achieved in 2023)
• 32% — 3-Year After-Tax ROIC (Return on invested capital for the three-year period ended 12/31/2023)
• 0 — Target Incidents (Goal for zero safety incidents)
• 60% — Facilities Injury-Free (Percentage of facilities with no recordable injuries in 2023)

Key Players & Entities

• Steel Dynamics, Inc. (company) — Registrant name
• May 9, 2024 (date) — Date of Annual Meeting
• Fort Wayne Country Club (company) — Location of Annual Meeting
• 2023 (date) — Year of reported performance
• $18.8 billion (dollar_amount) — 2023 sales figure
• 32% (percentage) — After-tax return on invested capital for three-year period
• S&P 500 (company) — Index for performance comparison
• March 28, 2024 (date) — Filing date

FAQ

Key Dates

• 2024-05-09: 2024 Annual Meeting — Shareholders will vote on company matters and receive updates.
• 2024-03-28: DEF 14A Filing — Definitive Proxy Statement filed with the SEC.

Key Financial Figures

• $18.8 billion — We achieved our second highest sales of $18.8 billion with healthy demand across each of our
• $3.2 billion — s. Our consolidated operating income of $3.2 billion and net income of $2.5 billion, represe
• $2.5 b — ncome of $3.2 billion and net income of $2.5 billion, representing our third highest a
• $1.9 billion — perations achieving operating income of $1.9 billion and our steel fabrication operations ac
• $1.6 billion — heir second highest operating income of $1.6 billion. Our low-cost, highly-diversified produ
• $3.5 billion — generated cash flow from operations of $3.5 billion during 2023 and ended the year with str
• $1.7 billion — orm with capital expenditures of nearly $1.7 billion. We maintained our positive dividend pr
• $2.7 billion — NTENTS Construction continues for our $2.7 billion 650,000 metric ton state-of-the-art low
• $5.6 b — e last seven years, we have repurchased $5.6 billion, or 37%, of our common stock, and
• $1.5 billion — ional share repurchase authorization of $1.5 billion. Our Resources We are committed to
• $18.8 b — s from metals recycling – Revenue of $18.8 billion, our second highest annual result
• $1.5 b — flow generation in 2023, we repurchased $1.5 billion, or 8%, of our outstanding common
• $2.0 billion — includes completing investments on our $2.0 billion Sinton Flat Roll Division and on our $6
• $600 million — on Sinton Flat Roll Division and on our $600 million four value-added coating lines, as well

Filing Documents

• tm242683d2_def14a.htm (DEF 14A) — 1840KB
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• sg_markmillett-4c.jpg (GRAPHIC) — 15KB
• 0001104659-24-040422.txt (&nbsp;) — 6782KB
• stld-20231231.xsd (EX-101.SCH) — 8KB
• stld-20231231_def.xml (EX-101.DEF) — 6KB
• stld-20231231_lab.xml (EX-101.LAB) — 26KB
• stld-20231231_pre.xml (EX-101.PRE) — 5KB
• tm242683d2_def14a_htm.xml (XML) — 189KB

Security Ownership of Directors and Executive

Security Ownership of Directors and Executive Officers 42

Security Ownership of Certain Beneficial Owners

Security Ownership of Certain Beneficial Owners 43 Proposal No. 2 —Ratification of the Appointment of Independent Registered Public Accounting Firm as Auditors 44 Report of the Audit Committee 45 Compensation Discussion and Analysis 47 Executive Summary 47 What Drives our Program 49 The Decision-Making Process 50 2023 Executive Compensation Program in Detail 52 Other Policies, Programs and Guidelines 58 Report of the Compensation Committee 61 Compensation Tables 62 CEO Pay Ratio 70 Pay versus Performance 71 Proposal No. 3 —Advisory Vote to Approve the Compensation of the Named Executive Officers 74 Proposal No. 4 —Approval of the Steel Dynamics, Inc. 2024 Employee Stock Purchase Plan 75 Proposal No. 5 —Shareholder Proposal—Adopt a Shareholder Right to Call a Special Shareholder Meeting 79 Other Matters 81 4 Health and Safety|Entrepreneurial Culture|Customer Commitment|Strategic Sustainable Growth|Innovation|Financial Strength TABLE OF CONTENTS Proxy Statement Summary This summary highlights information contained elsewhere in this proxy statement and does not contain all of the information that you should consider before voting. Therefore, please read this proxy statement in its entirety. To help you, we have provided page references to find further related details. How to Vote Internet You are eligible to vote online at www.proxyvote.com until 11:59 p.m. Eastern Time on May 8, 2024. Telephone Voting can be completed by calling the number on your proxy until 11:59 p.m. Eastern Time on May 8, 2024. Mail Voting can be completed by signing and returning your proxy or voting instruction card before May 8, 2024. In Person At the annual meeting: If you are a shareholder of record, we have a record of your ownership so we can accept your vote. If your shares are held in the name of a broker, nominee, or other intermediary, you must bring a proxy issued in your name from that

Business

Business Highlights Thank you to our extraordinary colleagues for their passion, spirit of excellence, innovation, and dedication to each other. Their dedication continues to drive our company to achieve exceptional results. We also thank our loyal customers, vendors, shareholders, and communities for your continued support. Circular Manufacturing Model We intentionally developed a circular operating framework, supporting a competitively-advantaged, sustainable strategic business model. Our metals recycling platform collects and processes scrap from manufacturing and end-of-life items, such as automobiles, appliances, and machinery. This processed scrap is then sold to end users for reuse, including our EAF steel mills, which produce new steel from the recycled material. Our steel is then sold to consumers that both further process and manufacture end products. We sell a meaningful amount of steel to our own manufacturing businesses that in turn sell finished products to consumers. Ultimately, when these products reach the end of their lives, they can be collected as scrap and used again in our steelmaking operations, creating our circular manufacturing model. This model will continue with our new aluminum flat rolled platform. As the largest nonferrous recycler in North America, our metals recycling platform collects and processes aluminum scrap to sell to our recycled aluminum slab facilities and flat rolled products aluminum mill. Our lower-carbon flat rolled products aluminum mill will produce new aluminum sheet from the recycled material. Similar to our Sinton flat roll steel facility, several customers will be creating a presence on our site, allowing aluminum scrap from their operations to be recycled efficiently. Finally, when aluminum products reach the end of their lives, they can be collected as scrap and used again in our aluminum operations, supporting our circular manufacturing model. Leading After-Tax ROIC 1 (1) The company believes tha

View Full Filing

View this DEF 14A filing on SEC EDGAR