<SEC-DOCUMENT>0001437749-23-000164.txt : 20230103
<SEC-HEADER>0001437749-23-000164.hdr.sgml : 20230103
<ACCEPTANCE-DATETIME>20230103160203
ACCESSION NUMBER:		0001437749-23-000164
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20230101
FILED AS OF DATE:		20230103
DATE AS OF CHANGE:		20230103

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MANSON RICHARD A
		CENTRAL INDEX KEY:			0001079653
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23320
		FILM NUMBER:		23502025

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

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
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rdgdoc.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2023-01-01</periodOfReport>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001079653</rptOwnerCik>
            <rptOwnerName>MANSON RICHARD A</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>
            <isOfficer>1</isOfficer>
            <officerTitle>Chief Financial Officer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Restricted Share Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2023-01-01</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>3000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F2"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>3000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>42330</value>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </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">These RSUs were granted under Olympic Steel's Amended and Restated 2007 Omnibus Incentive Plan, as amended. These RSUs vest on December 31, 2025 if the Reporting Person continues to be an employee of Olympic Steel (or its subsidiaries or affiliates) in the same or higher position on such date. Any vested RSUs generally will be settled within 90 days following the applicable vesting date. Vesting and settlement may also occur earlier in limited circumstances as specified in the applicable award documents.</footnote>
        <footnote id="F3">The total number of RSUs includes previously granted RSUs with different vesting and payment terms.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Lisa K. Christen, as Attorney-in-Fact</signatureName>
        <signatureDate>2023-01-03</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
