Lisa K. Christen - 13 Feb 2026 Form 4 Insider Report for OLYMPIC STEEL INC (ZEUS)

Role: Vice President and Treasurer
Signature: /s/ Lisa K. Christen
Issuer symbol: ZEUS
Transactions as of: 13 Feb 2026
Net transactions value: $0
Form type: 4
Filing time: 17 Feb 2026, 12:34:38 UTC
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Christen Lisa K	Vice President and Treasurer	C/O OLYMPIC STEEL, INC., 22901 MILL CREEK BLVD., SUITE 650, HIGHLAND HILLS	/s/ Lisa K. Christen	17 Feb 2026	0001802631

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ZEUS	Common Stock	Disposed to Issuer		-375	-100%		0	13 Feb 2026	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ZEUS	Restricted Share Units	Disposed to Issuer		-1,058	-100%		0	13 Feb 2026	Common Stock	1,058		Direct	F2, F3
transaction	ZEUS	Phantom Units	Disposed to Issuer		-1,124	-100%		0	13 Feb 2026	Common Stock	1,124		Direct	F3, F4
transaction	ZEUS	Phantom Units	Disposed to Issuer		-2,286	-100%		0	13 Feb 2026	Common Stock	2,286		Direct	F3, F4, F5
transaction	ZEUS	Phantom Units	Disposed to Issuer		-1,753	-100%		0	13 Feb 2026	Common Stock	1,753		Direct	F3, F4, F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Lisa K. Christen is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
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.
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.
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.
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.
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.
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).