Company: ZEUS
Filing Date: 2025-10-30
Form Type: 425
Source: 0001193125-25-257069
Chunk: 3

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-30
Form: 425
Chunk 3
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 of whole shares of Ryerson Common Stock (rounded down to the nearest whole share) equal to the product of (A) the number of shares of Olympic Common Stock subject to such Olympic PSU multiplied by (B) the Exchange Ratio and will remain subject to the same terms and conditions that applied to such Olympic PSU immediately prior to the Effective Time (including continued service requirements and performance-based vesting conditions).

As of the Effective Time, each restricted stock award with respect to shares of Olympic Common Stock granted
by Olympic (each, an “”) that is outstanding immediately prior to the execution of the Merger Agreement will vest immediately prior to the Effective Time. Each restricted stock award granted following the date on which
the Merger Agreement is executed will vest on a prorated basis based on the number of days that elapse between January 1 of the calendar year in which the grant date occurs and the Effective Time. At the Effective Time, each Olympic RSA that
vests in connection with the closing will be canceled and converted into the right to receive the Merger Consideration and all outstanding and unvested Olympic RSAs will be automatically canceled and forfeited for no consideration.

As of the Effective Time, each time-based long-term cash incentive award granted under the Olympic C-Suite Long Term Incentive Plan that is outstanding
immediately prior to the Effective Time will be assumed by Ryerson and remain subject to the same terms and conditions that applied to such time-based long-term cash incentive award immediately prior to the Effective Time (including any requirement
for continued service).

As of the Effective Time, each performance-based cash award granted under the Olympic C-Suite Long Term Incentive Plan prior to
the date on which the Merger Agreement is executed that is outstanding immediately prior to the Effective Time will be canceled and converted into the right to receive a cash payment equal to the amount that would be owed under such
performance-based cash award (based on actual performance levels for outstanding performance-based cash awards granted in 2023 and deemed target levels of performance for outstanding performance-based cash awards granted in 2024 and 2025) to be paid
in cash in accordance with Olympic’s (or one of its affiliates’) regular payroll practices within 30 days following the Closing Date. Each performance-based cash award 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 cash award and will remain subject to the same terms and conditions that applied to such