Company: ZEUS
Filing Date: 2025-10-30
Form Type: 8-K
Source: 0001437749-25-032436
Chunk: 1

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-30
Form: 8-K
Item: Item 1.01
Chunk 1
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U immediately prior to the Effective Time, including (1) accelerated vesting and payment as a result of the closing, if any, (2) any requirement for continued service, and (3) the holder’s right to make an election to receive cash in lieu of shares. If a holder of a Company RSU elects to receive a cash settlement pursuant to the terms of an applicable Company RSU award agreement, such cash payment will equal the product of (x) the number of shares of Ryerson Common Stock subject to the assumed and converted restricted stock unit award multiplied by (Y) the closing price per share of Ryerson Common Stock on the Closing Date (as defined in the Merger Agreement). Any such cash payments will be paid by the Company (or one of its affiliates) through its regular payroll practices within 30 days following the Closing Date.

As of the Effective Time, each Company RSU that was contributed to and used to fund a participant’s account balance in the Company’s Supplemental Executive Retirement Plan (“ SERP”) will be canceled and converted into a cash amount equal to (A) the product of (X) the number of shares of Company Common Stock subject to such Company RSU, multiplied by (Y) the Exchange Ratio, multiplied by (B) the closing price per share of Ryerson Common Stock on the Closing Date. The converted cash amount will be credited to the participant’s SERP account, subject to the payment timing requirements and other terms of the SERP.

As of the Effective Time, each performance stock unit with respect to shares of Company Common Stock granted by the Company (each, a “ Company PSU”) that is outstanding immediately prior to the execution of the Merger Agreement will be canceled and converted into the right to receive a cash payment 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 Ryerson Common Stock on the Closing Date, to be paid in cash by the Company (or one of its affiliates) through its regular payroll practices within 30 days following the Closing Date. Each Company PSU 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