Not independent
Tenure on this board
33.5 yrs
Meeting calendar
STLD · Annual meeting · Wednesday, May 6, 2026
Steel Dynamics Inc
7 nominees · 4 ballot items.
Election of seven directors; Ratification of Ernst & Young LLP as auditors; Advisory (say-on-pay) vote to approve named executive officer compensation; Shareholder proposal by John Chevedden requesting annual disclosure of political contributions and related policies (board recommends against).
Market cap
$33.9B
1Y TSR
+84.3%
Board grade
A
Record date
Mar 16, 2026
Filing
DEF 14A
Meeting concluded · May 6, 2026
Follow how the vote landed and what changed on Steel Dynamics Inc’s board — director track records, governance grades, and ongoing monitoring — on the Boardroom Alpha platform.
Proposals
On the ballot4
- 1
Election of Directors
ManagementBoard: FORElect seven directors to the Board for one-year terms.
- 2
Ratification of the Appointment of Independent Registered Public Accounting Firm as Auditors
ManagementBoard: FORRatify Ernst & Young LLP as the Company’s independent registered public accounting firm for 2026.
- 3
Advisory Vote to Approve the Compensation of the Named Executive Officers
ManagementBoard: FORNon-binding advisory vote to approve the compensation disclosed for the named executive officers for 2025 (say-on-pay).
More detail
The advisory say-on-pay proposal asks shareholders to approve the disclosed 2025 compensation for the Named Executive Officers. Management seeks a non-binding endorsement to validate its pay-for-performance philosophy that relies heavily on performance-based annual and long-term incentive plans (Annual Plan and LTIP) designed to align executives with shareholder interests. The Compensation Committee ties annual payouts to adjusted net income above a 10% ROE threshold and divisional ROA targets; long-term awards are measured over three years against steel-sector peers across revenue growth, operating margin, cash flow as a percentage of revenue, and after-tax return on invested capital. Management presents historical outcomes, governance safeguards (clawback, double-trigger CIC protections, stock ownership requirements, independent consultant), and shareholder engagement evidence (92% support in 2025) to justify the program. The Board recommends a vote FOR, asserting these policies promote long-term value creation, mitigate risk, and have strong shareholder backing.
- 4
Shareholder Proposal — Avoid Political Spending Brand Damage
Shareholder — John CheveddenBoard: AGAINSTShareholder John Chevedden requests an annual report disclosing policies/procedures and monetary and non-monetary political contributions and expenditures (excluding lobbying), including recipients and amounts, posted to the company website.
Director elections
Nominees on the ballot7
Independent
Tenure on this board
7.8 yrs
Independent
Tenure on this board
10.5 yrs
Independent
Tenure on this board
13.9 yrs
Independent
Tenure on this board
2.8 yrs
Independent
Tenure on this board
12.6 yrs
Independent
Tenure on this board
4.7 yrs
Ownership
Latest 13F quarterTop institutional holders10
| # | Owner | % of shares | Shares | Value |
|---|---|---|---|---|
| 1 | VANGUARD CAPITAL MANAGEMENT LLC | 6.2% | 8,976,307 | $1.6B |
| 2 | STATE STREET CORP | 5.2% | 7,513,992 | $1.4B |
| 3 | VANGUARD PORTFOLIO MANAGEMENT LLC | 4.7% | 6,809,040 | $1.2B |
| 4 | BlackRock, Inc. | 3.4% | 4,958,407 | $893M |
| 5 | Capital Research Global Investors | 2.5% | 3,630,842 | $654M |
| 6 | GEODE CAPITAL MANAGEMENT, LLC | 2.4% | 3,395,115 | $609M |
| 7 | FMR LLC | 2.2% | 3,117,417 | $561M |
| 8 | BlackRock, Inc. | 1.9% | 2,809,768 | $506M |
| 9 | Life Cycle Investment Partners Ltd | 1.9% | 2,696,347 | $485M |
| 10 | Holocene Advisors, LP | 1.6% | 2,288,948 | $412M |
Peers
Nearest market capOther Basic Materials sector meetings6
Upcoming shareholder meetings at Steel Dynamics Inc’s closest sector peers — compare boards, ballots, and ownership across the cohort.
James Hardie Industries PLCJHX
Annual meeting·Aug 20, 2026·$15.6B
Axalta Coating Systems LtdAXTA
Special meeting·Aug 5, 2026·$7.0B
Eagle Materials IncEXP
Annual meeting·Jul 30, 2026·$6.6B
Uranium Energy CorpUEC
Annual meeting·Jul 23, 2026·$4.6B
Hawkins IncHWKN
Annual meeting·Jul 29, 2026·$3.0B
Huntsman CorpHUN
Special meeting·Aug 25, 2026·$2.1B
Reference
Frequently asked questions
- When is the Steel Dynamics Inc 2026 annual meeting?
- Steel Dynamics Inc (STLD) holds its 2026 annual shareholder meeting on Wednesday, May 6, 2026.
- What is the record date for the Steel Dynamics Inc 2026 meeting?
- The record date for the Steel Dynamics Inc 2026 meeting is Monday, March 16, 2026. Shareholders of record on or before that date are eligible to vote.
- Who are the director nominees for Steel Dynamics Inc's 2026 meeting?
- The board is presenting 7 director nominees at the Steel Dynamics Inc 2026 meeting, listed with their independence status and background.
- What proposals will shareholders vote on at the Steel Dynamics Inc 2026 meeting?
- Shareholders will vote on 4 proposals at the Steel Dynamics Inc 2026 meeting, each tagged with who proposed it and the board's recommendation.
Disclaimer
The opinions and information contained herein have been obtained or derived from sources believed to be reliable, but Boardroom Alpha cannot guarantee its accuracy and completeness, and that of the opinions based thereon.
This report contains opinions and is provided for informational purposes only – it does not constitute investment, legal or tax advice. You should not rely solely upon the research herein for purposes of transacting securities or other investments, and you are encouraged to conduct your own research and due diligence, and to seek the advice of a qualified securities professional before you make any investment.
None of the information contained in this report constitutes, or is intended to constitute a recommendation by Boardroom Alpha of any particular security or trading strategy or a determination by Boardroom Alpha that any security or trading strategy is suitable for any specific person. To the extent any of the information contained herein may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person.
No representation or warranty, expressed or implied, is made on behalf of Boardroom Alpha as to the accuracy or completeness of the information contained herein. Boardroom Alpha does not accept any liability for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on all or any part of this research and any liability is expressly disclaimed.