Company: ZEUS
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001437749-25-009843
Chunk: 19

Company: OLYMPIC STEEL INC
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 19
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 approve the compensation of our named executive officers. The Compensation Committee considered the 2024 voting results at its meetings and remains dedicated to continuous improvement to the existing executive pay programs. As a result of its considerations, and the high level of shareholder approval, the Compensation Committee did not make any significant changes to the executive pay practices described below.

The following discussion and analysis of our 2024 executive compensation program, which may include forward-looking statements, should be read together with the compensation tables and related disclosures that follow this section.

Our named executive officers for fiscal year 2024 were Michael D. Siegal (Executive Chairman), Richard T. Marabito (Chief Executive Officer), Andrew S. Greiff (President and Chief Operating Officer), Richard A. Manson (Chief Financial Officer), and Lisa K. Christen (Vice President and Treasurer).

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Compensation Philosophy and Objectives

The goals of our compensation program for our Chief Executive Officer and the other executive officers named in the 2024 Summary Compensation Table, whom we refer to as our named executive officers, are to support our long-term business strategy and align our executives’ interests with those of our shareholders. We designed the compensation program to, among other things, provide incentives for executives to help us achieve business objectives and give the Compensation Committee the flexibility necessary to reward executives for achieving those objectives. The Compensation Committee’s strategy for achieving these goals is to:

| ● | Provide each named executive officer with total compensation that is competitive compared to compensation for similarly situated executives in public and privately held metal and metal-related companies, and similar-sized non-metal companies, in order to attract, motivate and retain highly qualified executives; and |

| ● | Reward performance under a cash incentive plan that provides the potential for a substantial reward through the payment of a significant incentive that increases as our EBITDA increases but provides reduced incentive payments during periods when EBITDA decreases. As a micro-cap stock, the Company has less shares outstanding and less ability to grant additional shares. As a result, the cash incentive has been designed to take into account that the Company cannot grant equity awards at a rate comparable to its peer group. |

Role of Compensation Committee and Management

Our Compensation Committee is responsible for setting and administering the policies and plans that govern the base salaries, incentives and other compensation elements for our named executive officers.

Management assists the Compensation Committee in administering the executive compensation program by recommending individual and Company performance goals, including offering suggestions for key metrics for use in our incentive program, and by providing