STEEL DYNAMICS INC
For the period ended Dec 31, 2025. Filed Feb 27, 2026.
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FY2025 · Filed Feb 27, 2026
STLD$227.56+2.1%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Exhibit Index
Articles of Incorporation
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| 3.1 | Amended and Restated Articles of Incorporation of Steel Dynamics, Inc., reflecting all amendments thereto through May 11, 2023, incorporated herein by reference from Exhibit 3.1 to our Form 10-Q filed August 8, 2023 (File No.: 000-21719). |
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| 3.2 | Amended and Restated Bylaws of Steel Dynamics, Inc., reflecting all amendments thereto through January 31, 2024, incorporated herein by reference from Exhibit 3.2 to our Form 10-K filed February 29, 2024 (File No.: 000-21719). |
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| Instruments Defining the Rights of Security Holders, Including Indentures | |
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| 4.1 | Description of Common Stock, incorporated herein by reference from Exhibit 4.1 to our Form 10-K filed February 27, 2020 (File No.: 000-21719). |
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| 4.31 | Indenture dated December 4, 2019, among Steel Dynamics, Inc., as Issuer, and Wells Fargo Bank, National Association, as Trustee, incorporated herein by reference from Exhibit 4.1 to our Registration Statement on Form S-3 filed December 4, 2019 (File No.: 333-235343). |
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| 4.32 | First Supplemental Indenture, dated as of December 11, 2019, relating to our issuance of $600 million 3.450% Notes due 2030 among Steel Dynamics, Inc., as Issuer, and Wells Fargo Bank, National Association, as Trustee, incorporated herein by reference from Exhibit 4.2 to our Form 8-K filed December 11, 2019 (File No.: 000-21719). |
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| 4.34 | Form of 3.450% Notes due 2030 (included in Exhibit 4.32), incorporated herein by reference from Exhibit 4.4 to our Form 8-K filed December 11, 2019 (File No.: 000-21719). |
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| 4.35 | Second Supplemental Indenture, dated as of June 5, 2020, relating to our issuance of $500 million 3.250% Notes due 2031, between Steel Dynamics, Inc. and Wells Fargo Bank, National Association, as Trustee, incorporated herein by reference from Exhibit 4.2 to our Form 8-K filed June 5, 2020 (File No.: 000-21719). |
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| 4.37 | Form of 3.250% Notes due 2031 (included in Exhibit 4.35), incorporated herein by reference from Exhibit 4.4 to our Form 8-K filed June 5, 2020 (File No.: 000-21719). |
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| 4.38 | Third Supplemental Indenture, dated as of October 9, 2020, relating to our issuance of $350 million 1.650% Notes due 2027 and $400 million 3.250% Notes due 2050, between Steel Dynamics, Inc. and Wells Fargo Bank, National Association, as Trustee, incorporated herein by reference from Exhibit 4.2 to our Form 8-K filed October 9, 2020 (File No.: 000-21719). |
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| 4.39 | Form of 1.650% Notes due 2027 (included in Exhibit 4.38), incorporated herein by reference from Exhibit 4.3 to our Form 8-K filed October 9, 2020 (File No.: 000-21719). |
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| 4.40 | Form of 3.250% Notes due 2050 (included in Exhibit 4.38), incorporated herein by reference from Exhibit 4.4 to our Form 8-K filed October 9, 2020 (File No.: 000-21719). |
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| 4.41 | Indenture, dated as of December 7, 2022, between Steel Dynamics, Inc., as Issuer, and U.S. Bank Trust Company, National Association, as Trustee, incorporated herein by reference from Exhibit 4.1 to our Registration Statement on Form S-3 filed December 7, 2022 (File No.: 333-268703). |
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| 4.42 | First Supplemental Indenture, dated as of July 3, 2024, relating to our issuance of $600 million 5.375% Notes due 2034, between Steel Dynamics, Inc. and U.S. Bank Trust Company, National Association, as Trustee, incorporated herein by reference from Exhibit 4.2 to our Form 8-K filed July 5, 2024 (File No. 000-21719). |
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| 4.43 | Form of 5.375% Notes due 2034 (included in Exhibit 4.42), incorporated herein by reference from Exhibit 4.3 to our Form 8-K filed July 5, 2024 (File No.: 000-21719). |
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| 4.44 | Second Supplemental Indenture, dated as of March 12, 2025, relating to our issuance of $750 million 5.250% Notes due 2035 and $400 million 5.750% Notes due 2055, between Steel Dynamics, Inc. and U.S. Bank Trust Company, National Association, as Trustee, incorporated herein by reference from Exhibit 4.2 to our Form 8-K filed March 12, 2025 (File No.: 000-21719). |
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| 4.45 | Form of 5.250% Notes due 2035 (included in Exhibit 4.44), incorporated herein by reference from Exhibit 4.3 to our Form 8-K filed March 12, 2025 (File No.: 000-21719). |
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| 4.46 | Form of 5.750% Notes due 2055 (included in Exhibit 4.44), incorporated herein by reference from Exhibit 4.4 to our Form 8-K filed March 12, 2025 (File No.: 000-21719). |
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| 4.47 | Third Supplemental Indenture, dated as of November 21, 2025, related to our issuance of $650 million 4.000% Notes due 2028, between Steel Dynamics, Inc. and U.S. Bank Trust Company, National Association, as Trustee, incorporated herein by reference from Exhibit 4.3 to our Form 8-K filed November 21, 2025 (File No.: 000-21719). |
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| 4.48 | Form of 4.000% Notes due 2028 (included in Exhibit 4.47), incorporated herein by reference from Exhibit 4.4 to our Form 8-K filed November 21, 2025 (File No.: 000-21719). |
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| Material Contracts | |
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| 10.20† | Steel Dynamics, Inc., Change in Control Benefit Plan, incorporated herein by reference from our Exhibit 10.20 to our 8-K filed December 4, 2012 (File No.: 000-21719). |
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| 10.61† | 2018 Executive Incentive Compensation Plan, approved by stockholders on May 17, 2018, incorporated herein by reference from our Definitive Proxy Statement on Schedule 14A filed March 28, 2018 (File No.: 000-21719). |
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| 10.62 | Credit Agreement dated as of July 19, 2023, among Steel Dynamics, Inc. and the agents and lenders named therein, incorporated herein by reference from Exhibit 10.62 to our Form 8-K filed July 21, 2023 (File No.: 000-21719). |
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| 10.63† | Steel Dynamics, Inc. 2023 Equity Incentive Plan, approved by stockholders on May 11, 2023, incorporated herein by reference from our Definitive Proxy Statement on Schedule 14A filed March 30, 2023 (File No.: 000-21719). |
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| 10.64† | Steel Dynamics, Inc. 2024 Employee Stock Purchase Plan, approved by stockholders on May 9, 2024, incorporated herein by reference from our Definitive Proxy Statement on Schedule 14A filed March 28, 2024 (File No.: 000-21719). |
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| Other | |
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| 19.1 | Policy Regarding Insider Trading and Certain Prohibited Transactions, incorporated herein by reference from Exhibit 19.1 to our Form 10-K filed February 28, 2025 (File No.: 000-21719). |
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| 21.1* | List of our Subsidiaries. |
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| 23.1* | Consent of Ernst & Young LLP. |
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| 24.1 | Powers of attorney (see signature pages on pages 90 and 91 of this Report). |
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| 97.1 | Policy on Recoupment of Executive Officer Incentive-Based Compensation In the Event of Restatements, incorporated herein by reference from Exhibit 97.1 to our Form 10-K filed February 29, 2024 (File No.: 000-21719). |
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| Executive Officer Certifications | |
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| 31.1* | Certification of Chief Executive Officer required by Item 307 of Regulation S-K as promulgated by the Securities and Exchange Commission and pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
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| 31.2* | Certification of Chief Financial Officer required by Item 307 of Regulation S-K as promulgated by the Securities and Exchange Commission and pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
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| 32.1* | Certification of Chief Executive Officer Pursuant to 18 U.S.C Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
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| 32.2* | Certification of Chief Financial Officer Pursuant to 18 U.S.C Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
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| XBRL Documents | |
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| 101.INS* | XBRL Instance Document – the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. |
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| 101.SCH* | Inline XBRL Taxonomy Extension Schema Document |
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| 101.CAL* | Inline XBRL Taxonomy Extension Calculation Linkbase Document |
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| 101.DEF* | Inline XBRL Taxonomy Extension Definition Linkbase Document |
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| 101.LAB* | Inline XBRL Taxonomy Extension Label Linkbase Document |
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| 101.PRE* | Inline XBRL Taxonomy Presentation Linkbase Document |
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| 104* | Cover page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |
- Filed concurrently herewith
† Indicates a management contract or compensatory plan or arrangement.
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