Company: ZEUS
Filing Date: 2025-10-30
Form Type: 425
Source: 0001193125-25-257069
Chunk: 28

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-30
Form: 425
Chunk 28
---
 assumed and converted shall be a performance-based vesting
restricted stock unit covering that number of whole shares of Parent Common Stock (rounded down to the nearest whole share) equal to the product of (A) the number of shares of Company Common Stock subject to such Company PSU multiplied by
(B) the Exchange Ratio (after such conversion, an “”).

(c) . As of the
Effective Time, by virtue of the Merger and without any action on the part of the holders thereof, each restricted stock award with respect to shares of Company Common Stock granted by the Company (each, a “”) that
is (i) outstanding immediately prior to the date hereof, shall become vested immediately prior to the Effective Time (each, a “”) or (ii) granted following the date hereof in accordance with and
subject to , shall become vested in an amount equal to the total of such Company RSAs multiplied by a fraction, the numerator of which is the number of days elapsed between January 1 of the calendar year
in which the grant date occurs and the Closing Date and the denominator of which is the total number of days in the applicable vesting period with respect such Company RSAs (each, a “,” and together
with the Fully Vested Company RSAs, the “”). Each Vested Company RSA shall be canceled and converted into the right of the holder to receive, with respect to each restricted share of Company Common Stock subject
to such Vested Company RSA, the Merger Consideration. At the Effective Time, any Company RSAs that are granted pursuant to clause (ii) of the preceding sentence that do not become Prorated Vested Company RSAs shall be automatically canceled and
forfeited for no consideration.

(d) . At the Effective Time, each phantom stock award (each, a
“”) granted under the Company Stock Plan that is outstanding immediately prior to the Effective Time shall, by virtue of the Merger and without any action on the part of the holders thereof, be assumed by
Parent and shall be converted into a phantom stock award with phantom units (rounded down to the nearest whole unit) covering that number of whole phantom units with respect to Parent Common Stock equal to the product of (A) the number of phantom
units subject to such Company Phantom Award multiplied by (B) the Exchange Ratio (after such conversion, an “”). Each Assumed Phantom Award shall continue to have, and shall be subject to, the same terms
and conditions as applied to such Company Phantom Award immediately