Company: ZEUS
Filing Date: 2025-10-30
Form Type: 425
Source: 0001193125-25-257069
Chunk: 1

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-30
Form: 425
Chunk 1
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 chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

| Item 1.01 | Entry into a Material Definitive Agreement. |

On October 28, 2025, Ryerson Holding Corporation, a Delaware corporation (“ Ryerson”), entered into an Agreement and Plan of Merger (the “ Merger Agreement”), by and among Ryerson, Crimson MS Corp., an Ohio corporation and a direct wholly owned subsidiary of Ryerson (“ Merger Sub”), and Olympic Steel, Inc., an Ohio corporation (“ Olympic”), pursuant to which, subject to the terms and conditions of the Merger Agreement, Merger Sub will merge with and into Olympic (the “ Merger”), with Olympic surviving the Merger as a wholly owned subsidiary of Ryerson. All defined terms used in this summary of the Merger Agreement that are not otherwise defined herein have the meanings ascribed to such terms in the Merger Agreement. The Merger Subject to the terms and conditions of the Merger Agreement, at the date and time the Merger becomes effective (the “ Effective Time” and, such date, the “ Closing Date”), each share of common stock, without par value per share, of Olympic (“ Olympic Common Stock”) issued and outstanding immediately prior to the Effective Time (other than certain excluded shares) will be converted into and thereafter represent the right to receive 1.7105 shares of common stock (the “ Exchange Ratio”), $0.01 par value per share, of Ryerson (the “ Ryerson Common Stock”) (rounded down to the nearest whole share) and, if applicable, cash in lieu of fractional shares (the “ Merger Consideration”). Treatment of Stock-Based and Long-Term Cash Awards As of the Effective Time, each time-based restricted stock unit with respect to shares of Olympic Common Stock granted by Olympic (each, an “ Olympic RSU”) that is outstanding immediately prior to the Effective Time will be assumed by Ryerson and converted into a restricted stock unit award with respect to shares of Ryerson Common Stock (rounded down to the nearest whole share) equal to the product of (X) the number of shares of Olympic Common Stock subject to such Olympic RSU multiplied by (Y) the Exchange Ratio. Each assumed and converted Olympic RSU will remain subject to the same terms and conditions that applied to such