<SEC-DOCUMENT>0000899243-16-027939.txt : 20160823
<SEC-HEADER>0000899243-16-027939.hdr.sgml : 20160823
<ACCEPTANCE-DATETIME>20160823174728
ACCESSION NUMBER:		0000899243-16-027939
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20160819
FILED AS OF DATE:		20160823
DATE AS OF CHANGE:		20160823

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			OLYMPIC STEEL INC
		CENTRAL INDEX KEY:			0000917470
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-METALS SERVICE CENTERS & OFFICES [5051]
		IRS NUMBER:				341245650
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		5096 RICHMOND RD
		CITY:			BEDFORD HEIGHTS
		STATE:			OH
		ZIP:			44146
		BUSINESS PHONE:		2162923800

	MAIL ADDRESS:	
		STREET 1:		5096 RICHMOND RD
		CITY:			BEDFORD HEIGHTS
		STATE:			OH
		ZIP:			44146

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Greiff Andrew S
		CENTRAL INDEX KEY:			0001682850

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23320
		FILM NUMBER:		161847922

	MAIL ADDRESS:	
		STREET 1:		22901 MILLCREEK BLVD.
		STREET 2:		SUITE 650
		CITY:			HIGHLAND HILLS
		STATE:			OH
		ZIP:			44122
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>doc3.xml
<DESCRIPTION>FORM 3 SUBMISSION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2016-08-19</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000917470</issuerCik>
        <issuerName>OLYMPIC STEEL INC</issuerName>
        <issuerTradingSymbol>ZEUS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001682850</rptOwnerCik>
            <rptOwnerName>Greiff Andrew S</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O OLYMPIC STEEL, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>22901 MILLCREEK BLVD., SUITE 650</rptOwnerStreet2>
            <rptOwnerCity>HIGHLAND HILLS</rptOwnerCity>
            <rptOwnerState>OH</rptOwnerState>
            <rptOwnerZipCode>44122</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>EVP and COO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5521</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Restricted Share Units</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.00</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F2"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>2158</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Restricted Share Units</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.00</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>640</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Restricted Share Units</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.00</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F4"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F4"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>17318</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Each restricted share unit (&quot;RSU&quot;) represents the contingent right to receive one share of Olympic Steel, Inc. common stock.</footnote>
        <footnote id="F2">The RSUs were acquired in connection with Olympic Steel, Inc.'s Senior Management Compensation Program, are fully vested for the Reporting Person and will be settled upon retirement, or earlier upon the executive's death or disability or upon a change in control of Olympic Steel, Inc., in each case in accordance with the applicable award agreement.</footnote>
        <footnote id="F3">These RSUs were acquired under Olympic Steel's Amended and Restated 2007 Omnibus Incentive Plan. These RSUs vest on July 1, 2021 if the Reporting Person continues to be an employee of Olympic Steel (or its subsidiaries or affiliates) in the same or a higher position on such date. Any vested RSUs will be settled within 30 days following the first to occur of the Reporting Person's death, disability or retirement after the Reporting Person has attained the age of 62. Vesting and settlement may also occur earlier in limited circumstances as specified in the award agreement.</footnote>
        <footnote id="F4">These RSUs were acquired in connection with Olympic Steel's Supplemental Executive Retirement Plan, are fully vested for the Reporting Person, and will be settled upon the earlier of age 62 or departure from the Issuer (or earlier in limited circumstances specified in the award agreement).</footnote>
    </footnotes>

    <remarks>Exhibit 24-Power of Attorney</remarks>

    <ownerSignature>
        <signatureName>/s/ Gretchen A. Sterling, as Attorney-in-Fact</signatureName>
        <signatureDate>2016-08-23</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>attachment1.htm
<DESCRIPTION>EX-24 DOCUMENT
<TEXT>
<HTML>
<HEAD>
</HEAD>
<BODY>
<PRE>


                               POWER OF ATTORNEY
                                 -------------

      KNOW ALL MEN BY THESE PRESENTS, that the undersigned hereby constitutes
and appoints Gretchen A. Sterling, Richard A. Manson and Richard T. Marabito,
and each of them, as the true and lawful attorney or attorneys- in-fact, with
full power of substitution and revocation, for the undersigned and in the name,
place and stead of the undersigned, in any and all capacities, to execute, on
behalf of the undersigned, (1) any and all notices pursuant to Rule l44 under
the Securities Act of 1933 with respect to sales of shares of common stock,
without par value, or other securities, of Olympic Steel, Inc., including,
without limitation, all notices of proposed sale on Form 144, and (2) any and
all statements or reports under Section 16 of the Securities Exchange Act of
1934 with respect to the beneficial ownership of common stock, without par
value, or other securities, of Olympic Steel, Inc., including, without
limitation, all initial statements of beneficial ownership on Form 3, all
statements of changes in beneficial ownership on Form 4, all annual statements
of beneficial ownership on Form 5 and all successor or similar forms, to be
filed with the Securities and Exchange Commission, to execute any and all
amendments or supplements to any such notices, statements or reports, and to
file the same, with all exhibits thereto, and other documents in connection
therewith, with the Securities and Exchange Commission, granting to said
attorney or attorneys-in-fact, and each of them, full power and authority to do
so and perform each and every act and thing requisite and necessary to be done
in and about the premises (including, without limitation, completing, executing,
delivering and filing a Form ID to apply for electronic filing codes), as fully
and to all intents and purposes as the undersigned might or could do in person,
and hereby ratifying and confirming all that said attorney or attorneys-in-fact,
or any of them, or their substitute or substitutes, may lawfully do or cause to
be done by virtue hereof.  The undersigned acknowledges that the foregoing
attorneys-in-fact, and each of them, in serving in such capacity at the request
of the undersigned, are not assuming any of the responsibilities of the
undersigned to comply with Section 16 of the Securities Exchange Act of 1934 or
any other legal requirement.  This Power of Attorney shall remain in effect
until revoked in writing by the undersigned.


                 /s/ Andrew S. Greiff
                ----------------------------------
                Name: Andrew S. Greiff


Date:  August 22, 2016


</PRE>
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
