Leon J. Topalian

Chair, President, and Chief Executive Officer at NUCOR

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

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

Organization	Role	Date 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

Organization	Role	Date 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 Name	Amount	Payment Schedule	Additional Details
Base Salary	$1,500,000	2023 Annual	Fixed base salary component
Supplemental Executive Retirement Plan Benefit	$1,979,470	2023 Annual	Part of All Other Compensation
401(k) Matching Contribution	$5,625	2023 Annual	Part of All Other Compensation

Performance Compensation

Data from FY 2023

Annual Incentive Plan (AIP)

Metric	Value	Notes
Base Salary (for AIP calculation)	$1,500,000	Derived from 2023 base salary
ROE Achieved	22.87%	Exceeded threshold resulting in 300% of base salary payout
ROE Payout Percentage	300%	Contributed to AIP payout
ROAIC Ranking	3rd	Earned an additional 75% of base salary payout
ROAIC Payout Percentage	75%
Total AIP Award	375% of base salary ($5,625,000)	300% (ROE) + 75% (ROAIC)
Payment Structure	Deferred: $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/Maximum	20%, 150%, 400% of base salary	Threshold set at 20%, target at 150%, maximum at 400%

Long-Term Incentive Plan (LTIP)

Metric	Value	Notes
Performance Period	2023 – 2025	LTIP performance period
RSU Grant Date	June 1, 2023	Applicable for LTIP and performance-based RSUs
Threshold ROE	3%	Minimum ROE required for any award
Target ROE	12.5%	Target performance level
Maximum ROE	20% 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 Mix	50% Cash, 50% Restricted Shares	Payment split for award distribution

Performance-Based Restricted Stock Units (RSUs)

Metric	Value	Notes
2022 ROE	46.9%	Actual performance, well above maximum threshold
RSU Grant Date	June 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 Granted	37,585	Calculated as $5,000,000 ÷ $133.03
Vesting Schedule	1/3 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.