OLYMPIC STEEL INC

Filing Date

Feb 17, 2026

Transaction Date

Feb 13, 2026

Accession Number

0001193125-26-053981

Form Type

4

Footnotes

1. (F1)Disposed of pursuant to the Agreement and Plan of Merger ("Merger Agreement"), dated as of October 28, 2025, by and among Olympic Steel, Inc. (the "Company"), Ryerson Holding Corporation ("Parent"), and Crimson MS Corp. At the effective time of the merger, each share of the Company's common stock, without par value ("Company common stock"), that was issued and outstanding immediately prior to the effective time of the merger was converted into the right to receive a number of shares of common stock, $0.01 par value per share, of Parent ("Parent common stock"), multiplied by 1.7105 (rounded down to the nearest whole share), plus a cash payment (rounded down to the nearest cent) in lieu of any fractional shares as determined pursuant to the Merger Agreement.
2. (F2)Each restricted share unit ("RSU") represents the contingent right to receive one share of Company common stock. These RSUs are fully vested. Pursuant to the Merger Agreement, these RSUs were converted into RSUs with respect to Parent common stock by multiplying the number of shares of Company common stock underlying the award by 1.7105 (rounded down to the nearest whole share) and then cancelled in exchange for a cash payment equal to the number of shares of Parent common stock underlying the award, multiplied by the closing price per share of Parent common stock on February 13, 2026 (less applicable taxes), payable within 30 days of such date.
3. (F3)Each phantom unit represents the contingent right to receive a cash amount equal to the closing price of a share of Company common stock on the vesting date.
4. (F4)Pursuant to the Merger Agreement, these phantom units were converted into phantom units with respect to Parent common stock by multiplying the number of phantom units by 1.7105 (rounded down to the nearest whole unit). A pro rata portion of the phantom units vested at the effective time of the merger, and a cash amount equal to such portion (1,360 units on an as-converted basis), multiplied by the closing price per share of Parent common stock on February 13, 2026 (less applicable taxes), will be paid in respect thereof within 30 days of such date. The remaining portion of the phantom units (563 units on an as-converted basis) will vest, generally subject to the Reporting Person's continued employment, on December 31, 2026.
5. (F5)Pursuant to the Merger Agreement, these phantom units were converted into phantom units with respect to Parent common stock by multiplying the number of phantom units by 1.7105 (rounded down to the nearest whole unit). A pro rata portion of the phantom units vested at the effective time of the merger, and a cash amount equal to such portion (1,460 units on an as-converted basis), multiplied by the closing price per share of Parent common stock on February 13, 2026 (less applicable taxes), will be paid in respect thereof within 30 days of such date. The remaining portion of the phantom units (2,450 units on an as-converted basis) will vest, generally subject to the Reporting Person's continued employment, on December 31, 2027.
6. (F6)Pursuant to the Merger Agreement, these phantom units were converted into phantom units with respect to Parent common stock by multiplying the number of phantom units by 1.7105 (rounded down to the nearest whole unit).