Revised Letter from U. S. Steel Corporation to Stockholders
PITTSBURGH, PA – United States Steel Corporation (“U. S. Steel” or the “Company”) issues the following revised letter to its stockholders, correcting an error inadvertently included in the letter previously issued by the Company on March 24, 2025 (the “Initial Letter”).
Correction of Allegations Regarding Proxy Contest
The Initial Letter included a sentence making allegations regarding a proxy contest previously run by Fred DiSanto. Specifically, the sentence stated that this conduct resulted in a claim by the Securities and Exchange Commission (“SEC”). However, U. S. Steel acknowledges that no such claim was ever made by the SEC in relation to the proxy contest.
Background of the Proxy Contest
For the benefit of our stockholders, we provide some background on the proxy contest in question. In 2024, Mr. DiSanto, a shareholder of U. S. Steel, nominated himself and several other individuals for election to the Company’s Board of Directors. The Company’s Nominating and Corporate Governance Committee, in consultation with outside advisors, carefully reviewed the qualifications and suitability of all nominees. Ultimately, the Committee determined that none of the nominees met the qualifications necessary to be elected to the Board.
Correction of the Record
In light of the foregoing, U. S. Steel hereby corrects the record and retracts the allegations made in the Initial Letter regarding the SEC claim and the proxy contest. We regret any confusion caused by the Initial Letter and are committed to providing accurate and timely information to our stockholders.
Impact on Individual Investors
As an individual investor, this revision may not have a direct impact on your investment in U. S. Steel. However, it is important to keep informed about any material developments concerning the companies in which you have invested. This revision serves to clarify the facts surrounding a previous controversy and should help maintain transparency and trust between U. S. Steel and its stockholders.
Impact on the World
On a larger scale, this revision may contribute to a greater emphasis on transparency and accuracy in corporate communications. By promptly correcting any errors or misstatements, companies can help maintain investor confidence and trust. Additionally, this revision underscores the importance of a functioning proxy process, which allows shareholders to have a voice in the governance of publicly traded companies.
Conclusion
U. S. Steel takes its commitment to transparency and accuracy seriously, and we are committed to providing our stockholders with clear and accurate information. We acknowledge the error in the Initial Letter and have taken steps to correct the record. As we move forward, we will continue to focus on our core business operations and delivering value to our stockholders.
- U. S. Steel issues revised letter to stockholders
- Correction of error regarding SEC claim and proxy contest
- No SEC claim was ever made in relation to the proxy contest
- Impact on individual investors: maintaining transparency and trust
- Impact on the world: emphasizing transparency and accuracy in corporate communications
