U.S. Steel Executives Sell Millions in Shares...New CFO Appointed

Nucor Corp (NYSE: NUE) recently saw two of its executive vice presidents dispose of equity worth approximately $2.84 million (about ₩3.7 billion) through stock-option exercises and open-market sales, and announced a new chief financial officer effective March 1. Executive Vice President Allen C. Behr exercised options with a $42.46 strike price on February 2–3, sold all the shares acquired for roughly $2.84 million, and still holds about $12.7 million (₩16.5 billion) of Nucor common stock. Meanwhile, Executive Vice President Kenneth Rex Query sold some of his shares on February 11 in the open market at about $196 per share, realizing around $1.46 million (₩1.9 billion), and continues to hold about $15 million (₩19.5 billion) in stock.

The company has promoted current Vice President and Treasurer/Head of Investor Relations John L. “Jack” Sullivan to Chief Financial Officer and Executive Vice President as of March 1, while former CFO Steve Luxon has been serving as President and Chief Operating Officer since January 1.

On the NYSE, Nucor’s shares hit a 52-week high of $196.90 on February 11 before closing at $180.04 on February 19, down 2.44%, reflecting ongoing volatility. Reports of potential steel-import tariff cuts under the Trump administration have recently put downward pressure on U.S. steel stocks, including Nucor.

Headquartered in Charlotte, North Carolina, Nucor is North America’s largest steel producer and scrap recycler, supplying steel products to the construction, automotive and other key industries via its electric-arc furnaces and processing facilities. As an S&P 500 component, Nucor is also known as a dividend-growth stock—having raised its dividend for over 50 consecutive years—which has attracted investor interest following its strong share-price performance in recent years.