Company: ZEUS
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001437749-25-009843
Chunk: 24

Company: OLYMPIC STEEL INC
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 24
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’s Chief Executive Officer, President and Chief Operating Officer and Chief Financial Officer are currently eligible for participation in the C-suite LTIP. Additional future participants may become eligible as determined by the Compensation Committee.

In each calendar year, the Committee may award eligible participants in the C-suite LTIP a long-term incentive under the Incentive Plan of both a restricted stock unit (RSU) grant and a performance stock unit (PSU) grant. Additionally, the Committee may offer a long-term cash incentive (split equally between service and performance-based portions) to supplement both the RSU and PSU grants in order to arrive at the total long-term award target. For 2024, the Committee determined that the total long-term award target was $1,100,000 for the Chief Executive Officer, $800,000 for the President and Chief Operating Officer, and $475,000 for the Chief Financial Officer. The total long-term award target was $1,100,000 for the Chief Executive Officer, $600,000 for the President and Chief Operating Officer, and $300,000 for the Chief Financial Officer in 2023. The increase in 2024 was as a result of market data provided by our compensation consultant for similar positions. The PSUs (and performance-based cash incentive) will vest if the return on net assets, calculated as EBITDA divided by Average Accounts Receivable, Inventory and Property Plant and Equipment, exceeds five percent during the three-year performance period beginning on the grant date. Each RSU award (and service-based cash incentive) vests three years after the grant date. Each vested RSU will convert into the right to receive one share of Olympic Steel common stock.

In January 2024, we granted Mr. Marabito 8,246 RSUs and 8,246 PSUs for a total target award of $1,100,000. We granted Mr. Greiff 5,997 RSUs and 5,997 PSUs for a total target award of $800,000. We granted Mr. Manson 3,000 RSUs, 3,000 PSUs, a $37,400 service-based cash award and a $37,400 performance-based cash award for a total target award for $475,000. If the return on net assets during the three-year performance period falls below five percent, no performance-based incentive will be awarded. The maximum performance-based award is achieved if return on net assets during the three-year performance period exceeds ten percent, and is capped at 150%