Company: ZEUS
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001437749-25-004742
Chunk: 664

Company: OLYMPIC STEEL INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 4
Chunk 664
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1.7 years as of  December 31, 2024.

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   The following table summarizes the activity related to RSUs and PSUs for the year ended  December 31, 2024, 2023 and 2022:

       2024    2023    2022  
   Number of Shares    Weighted Average Estimated Fair Value    Number of Shares    Weighted Average Estimated Fair Value    Number of Shares    Weighted Average Estimated Fair Value  
 Beginning balance   662,103  $20.28   617,518  $18.95   576,867  $18.29 
 Granted   34,486   66.70   49,768   36.63   55,558   25.56 
 Converted into shares   -   -   (2,610)  18.78   (5,841)  18.16 
 Forfeited   (5,348)  17.97   (2,573)  19.65   (9,066)  17.52 
 Outstanding at December 31   691,241  $22.61   662,103  $20.28   617,518  $18.95 
 Vested at December 31   561,061  $21.37   454,939  $19.71   423,941  $19.24 

   Phantom Stock Units 
    
   In  January 2022, the Company adopted the Senior Manager Phantom Stock Plan (Phantom Stock Plan) that operates under the Senior Manager Stock Incentive Plan. Under the Phantom Stock Plan, certain senior managers are eligible to participate in the plan. The Phantom Stock Plan supersedes any previous stock incentive programs offered to the eligible participants. Each year, eligible participants will receive an award of Phantom Stock Units (Phantom Units) of up to $150 thousand. The number of Phantom Units granted on the grant date is determined by dividing the amount of the Phantom Units granted by the closing price of a share of the Company’s common stock on the grant date. Each Phantom Unit Award under this plan shall vest three years after the grant date (Vesting Date). Upon vesting, the Company will pay the Participant in cash, the