Company: ZEUS
Filing Date: 2025-10-30
Form Type: 425
Source: 0001193125-25-257069
Chunk: 2

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-30
Form: 425
Chunk 2
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 Olympic RSU immediately prior to the Effective Time, including (1) accelerated vesting and payment as a result of the closing, if any, (2) any requirement for continued service, and (3) the holder’s right to make an election, to receive cash in lieu of shares. If a holder of an Olympic RSU elects to receive a cash settlement pursuant to the terms of an applicable Olympic RSU award agreement, such cash payment will equal the product of (x) the number of shares of Ryerson Common Stock subject to the assumed and converted restricted stock unit award multiplied by (Y) the closing price per share of Ryerson Common Stock on the Closing Date. Any such cash payments will be paid by Olympic (or one of its affiliates) through its regular payroll practices within 30 days following the Closing Date. As of the Effective Time, each Olympic RSU that was contributed to and used to fund a participant’s account balance in Olympic’s Supplemental Executive Retirement Plan (“ SERP”) will be canceled and converted into a cash amount equal to (A) the product of (X) the number of shares of Olympic Common Stock subject to such Olympic RSU, multiplied by (Y) the Exchange Ratio, multiplied by (B) the closing price per share of Ryerson Common Stock on the Closing Date. The converted cash amount will be credited to the participant’s SERP account, subject to the payment timing requirements and other terms of the SERP. As of the Effective Time, each performance stock unit with respect to shares of Olympic Common Stock granted by Olympic (each, an “ Olympic PSU”) that is outstanding immediately prior to the execution of the Merger Agreement will be canceled and converted into the right to receive a cash payment equal to (i) the product of (A) the number of shares of Olympic Common Stock subject to such Olympic PSU (assuming achievement based on actual performance for outstanding Olympic PSUs granted in 2023 and deemed target levels of performance for outstanding Olympic PSUs granted in 2024 and 2025), multiplied by (B) the Exchange Ratio, multiplied by (ii) the closing price per share of Ryerson Common Stock on the Closing Date, to be paid in cash by Olympic (or one of its affiliates) through its regular payroll practices within 30 days following the Closing Date. Each Olympic PSU that is granted following the execution of the Merger Agreement that is outstanding immediately prior to the Effective Time will be assumed by Ryerson and converted into a performance-based vesting restricted stock unit covering that number