Company: ZEUS
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001437749-25-009843
Chunk: 23

Company: OLYMPIC STEEL INC
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 23
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19% of EBITDA. In his role as Executive Chairman of the Board of Directors, Mr. Siegal did not participate in an incentive pool.

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For 2024, we generated $72.3 million of EBITDA, excluding the impact of any LIFO inventory adjustments. As a result, the 2024 annual cash incentive amounts earned by each of our named executive officers were as follows: Mr. Marabito: $831,296, Mr. Greiff: $622,914, Mr. Manson: $469,863 and Ms. Christen: $137,345.

Long-Term Incentive Compensation (Equity-Based and Cash-Based). The Compensation Committee believes that equity-based compensation awards are an appropriate means of aligning the interests of our executives with those of our shareholders by rewarding our executives based on increases in the price of our Common Stock. Like base salary and the annual cash incentive payments, award levels are set with regard to competitive considerations, and each individual’s actual award is based upon the individual’s job responsibilities, performance, potential for increased responsibility and contributions, leadership ability and commitment to our strategic efforts. The timing and amount of previous awards to, and held by, each named executive officer is reviewed, but is only one factor considered by the Compensation Committee in determining the size of any equity-based award grants.

Equity-based compensation awards are granted under the Olympic Steel, Inc. Amended and Restated 2007 Omnibus Incentive Plan, which is referred to as the Incentive Plan. The Incentive Plan authorizes us to grant stock options, stock appreciation rights, restricted shares, restricted share units, performance shares and other stock- and cash-based awards to our employees, directors and consultants.

For more information about our Incentive Plan and awards under that plan for 2024, see the 2024 Grants of Plan-Based Awards Table, the Outstanding Equity Awards at 2024 Fiscal Year-End Table and the accompanying narratives below.

Prior to 2020, under the Senior Manager Stock Incentive Plan, participants were awarded restricted stock units that convert into the right to receive shares of Common Stock upon an executive’s retirement, or earlier upon the executive’s death or disability or upon a change in control of the Company.

In January 2022, we adopted a C-Suite Long-Term Incentive Plan (the “C-suite LTIP”) that operates under the Senior Manager Stock Incentive Plan. The Company