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    Leon J. Topalian

    Chair, President, and Chief Executive Officer at Nucor Corp
    Board
    Since January 2020
    Age
    56 years
    Tenure
    Joined NUE in 1996 as a project engineer and advanced through roles including production supervisor, operations manager, general manager, vice president, executive vice president, president and COO, to become CEO in January 2020 and Chair of the Board in September 2022.

    Also at Nucor Corp

    DRN
    Daniel R. Needham
    Executive Vice President of Commercial
    DAS
    David A. Sumoski
    Chief Operating Officer
    KRQ
    K. Rex Query
    Executive Vice President of Sheet Products and Talent Resources

    About

    Leon J. Topalian has built a robust career through nearly three decades at NUE, beginning his journey in 1996 as a project engineer. He steadily advanced through several important operational and managerial positions, reflecting his expertise and commitment to the company's growth.

    Over the years, he has held a variety of leadership roles including that of production supervisor, operations manager, and general manager, which laid the foundation for his subsequent executive positions. His promotions to vice president and then executive vice president underscored his increasing responsibility and leadership within the organization.

    In January 2020, he assumed the role of President and Chief Executive Officer, a position in which he has continued to drive strategic decisions and operational excellence. Later, in September 2022, he was also named Chair of the Board, cementing his role as a key figure in the company's executive leadership.

    Beyond his roles at NUE, he is involved in various industry organizations which further highlights his commitment to the broader manufacturing and steel production sectors. His career progression exemplifies a trajectory of consistent growth and a deep understanding of the industry's operational challenges and opportunities.

    $NUE Performance Under Leon J. Topalian

    Past Roles

    OrganizationRoleDate Range
    Nucor Corporation President and Chief Operating Officer September 2019 to December 2019
    Nucor Corporation Executive Vice President of Beam and Plate Products May 2017 to August 2019
    Nucor Corporation Vice President of Nucor 2013 to May 2017
    Nucor-Yamato Steel Company (Limited Partnership) and Nucor Steel Kankakee, Inc. General Manager N/A
    Nucor Corporation Melting and Casting Manager at Nucor Steel South Carolina N/A
    Nucor Corporation Business Development Manager at Nucor’s corporate office N/A
    Nucor Corporation Operations Manager for Nucor’s former HIsmelt joint venture in Australia N/A
    Nucor Corporation Cold Mill Production Supervisor at Nucor Steel Berkeley in South Carolina N/A
    Nucor Corporation Project Engineer (joined in 1996) N/A

    External Roles

    OrganizationRoleDate Range
    American Iron and Steel Institute Chairman N/A
    World Steel Association Vice-Chairman on the Executive Board of Directors N/A

    Fixed Compensation

    Data from  FY 2023
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$1,500,000 2023 AnnualFixed base salary component
    Supplemental Executive Retirement Plan Benefit$1,979,470 2023 AnnualPart of All Other Compensation
    401(k) Matching Contribution$5,625 2023 AnnualPart of All Other Compensation

    Performance Compensation

    Data from  FY 2023

    Annual Incentive Plan (AIP)

    MetricValueNotes
    Base Salary (for AIP calculation)$1,500,000 Derived from 2023 base salary
    ROE Achieved22.87% Exceeded threshold resulting in 300% of base salary payout
    ROE Payout Percentage300% Contributed to AIP payout
    ROAIC Ranking3rd Earned an additional 75% of base salary payout
    ROAIC Payout Percentage75%
    Total AIP Award375% of base salary ($5,625,000) 300% (ROE) + 75% (ROAIC)
    Payment StructureDeferred: $562,500; Cash: $5,062,500 10% deferred into common stock units with a 25% deferral incentive, vesting upon age 55, death, or disability
    Payout Threshold/Target/Maximum20%, 150%, 400% of base salary Threshold set at 20%, target at 150%, maximum at 400%

    Long-Term Incentive Plan (LTIP)

    MetricValueNotes
    Performance Period2023 – 2025 LTIP performance period
    RSU Grant DateJune 1, 2023 Applicable for LTIP and performance-based RSUs
    Threshold ROE3% Minimum ROE required for any award
    Target ROE12.5% Target performance level
    Maximum ROE20% or more Maximum performance level
    LTIP Target Grant Date Fair Value$4,500,000 For target-level performance
    Maximum LTIP Award$9,000,000 Maximum potential award
    Payment Mix50% Cash, 50% Restricted Shares Payment split for award distribution

    Performance-Based Restricted Stock Units (RSUs)

    MetricValueNotes
    2022 ROE46.9% Actual performance, well above maximum threshold
    RSU Grant DateJune 1, 2023 Grant date for performance-based RSUs
    Grant Date Stock Price$133.03 Closing price on grant date
    Grant Date Fair Value$5,000,000 Maximum value for performance-based RSUs
    Number of RSUs Granted37,585 Calculated as $5,000,000 ÷ $133.03
    Vesting Schedule1/3 each on June 1, 2024, 2025, and 2026 Time-based vesting with accelerated vesting upon retirement, death, or disability

    This comprehensive breakdown covers the performance compensation components for 2023, including metrics, targets, thresholds, payout structures, vesting details, and the actual performance outcomes leading to the payouts.