Company: ZEUS
Filing Date: 2025-10-30
Form Type: 425
Source: 0001193125-25-257069
Chunk: 27

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-30
Form: 425
Chunk 27
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 Ratio, multiplied by (B) the closing price per share of Parent Common Stock on the Closing Date.
Effective as of the Closing Date, the SERP RSU Cash Amount shall be credited to the account established under the SERP for the holder of the Company RSU associated with such SERP RSU Cash Amount, and will otherwise remain subject to the payment
timing requirements and other terms of the SERP.

(b)

(i) As of the Effective Time, by virtue of the Merger and without any action on the part of the holders thereof, each
performance stock unit award with respect to shares of Company Common Stock granted by the Company (each, a “”) that was granted prior to the date hereof and is outstanding immediately prior to the Effective Time shall
be canceled and assumed by Parent and shall be converted into the right of the holder to receive an amount in cash equal to (i) the product of (A) the number of shares of Company Common Stock subject to such Company PSU (assuming
achievement based on actual performance for outstanding Company PSUs granted in 2023 and deemed target levels of performance for outstanding Company PSUs granted in 2024 and 2025), multiplied by (B) the Exchange Ratio, multiplied by
(ii) the closing price per share of Parent Common Stock on the Closing Date. Each holder of such Company PSU shall, within 30 days of the Closing Date, be paid by the Surviving Corporation (or one of its affiliates) in accordance with its
regular payroll practices the cash amount (without interest) payable to such holder pursuant to this .

(ii) As of the Effective Time, by virtue of the Merger and without any action on the part of the holders thereof, each Company
PSU that is granted following the date hereof and outstanding immediately prior to the Effective Time shall be assumed by Parent and shall be converted into a restricted stock unit award with respect to each share of Company Common Stock subject to
such Company PSU in accordance with this . Each such Company PSU as so assumed and converted shall continue to have, and shall be subject to, the same terms and conditions as applied to such Company PSU
immediately prior to the Effective Time

10

(including any requirement for continued service with Parent or its affiliates and performance-based vesting conditions set forth in the applicable Company Stock Plan or award agreement), except
for terms rendered inoperative by reason of the Transactions and other administrative or ministerial changes determined by Parent, and as of the Effective Time, each such Company PSU as so