TimkenSteel grants performance-based stock units tied to share price targets of $35-$50 through 2026

Metallus Inc.

CEO Williams received 80,000 target PRSUs; three other NEOs each received 40,000 target PRSUs.
PRSUs pay out at 0% if avg share price <$35, 50% at $35, 100% at $40, up to 200% at $50+.
Performance period runs Dec 1, 2023 to Dec 31, 2026; earned units vest in two equal installments in 2027 and 2028.
Payout capped at $60 per earned PRSU; PRSUs forfeited for voluntary departures before vesting.
Purpose is to align executive compensation with value creation and support retention through transformation strategies.

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