SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Reich Kirk W

(Last)

(First)

(Middle)

9227 CENTRE POINTE DRIVE

(Street)

WEST CHESTER

45069

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
06/01/2010

3. Issuer Name and Ticker or Trading Symbol
AK STEEL HOLDING CORP [ AKS ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	V.P. Specialty Steel Operation

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	26,459	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Employee Stock Option (Right to Buy)	10/19/2007	10/19/2016	Common Stock	534	$14.685	D
Employee Stock Option (Right to Buy)	01/18/2008	01/18/2017	Common Stock	2,334	$16.755	D
Employee Stock Option (Right to Buy)	01/17/2009⁽¹⁾	01/17/2018	Common Stock	2,000	$36.585	D
Employee Stock Option (Right to Buy)	01/21/2010⁽²⁾	01/21/2019	Common Stock	6,375	$9.21	D
Employee Stock Option (Right to Buy)	01/20/2011⁽³⁾	01/20/2020	Common Stock	3,625	$22.965	D
Performance Shares	12/31/2010	12/31/2010	Common Stock	1,375⁽⁴⁾	⁽⁵⁾	D
Performance Shares	12/31/2011	12/31/2011	Common Stock	4,312.5⁽⁶⁾	⁽⁷⁾	D
Performance Shares	12/31/2012	12/31/2012	Common Stock	2,275⁽⁸⁾	⁽⁹⁾	D

Explanation of Responses:

1. Options vest in three equal annual installments beginning one year after 1/17/2008 (the grant date).

2. Options vest in three equal annual installments beginning one year after 1/21/2009 (the grant date).

3. Options vest in three equal annual installments beginning one year after 1/20/2010 (the grant date).

4. This represents one half of the Performance Shares which were awarded and are required to be reported at this time because they constitute derivative securities. The other half do not constitute derivative securities and therefore are not required to be reported at this time.

5. Each Performance Share represents a contingent right to receive 0 to 1.5 shares of Common Stock. The conversion rate ultimately applied to these Performance Shares will be determined based on the compounded annual growth rate of the Common Stock between January 1, 2008 and December 31, 2010.

6. This represents one half of the Performance Shares which were awarded and are required to be reported at this time because they constitute derivative securities. The other half do not constitute derivative securities and therefore are not required to be reported at this time.

7. Each Performance Share represents a contingent right to receive 0 to 1.5 shares of Common Stock. The conversion rate ultimately applied to these Performance Shares will be determined based on the compounded annual growth rate of the Common Stock between January 1, 2009 and December 31, 2011.

8. This represents one half of the Performance Shares which were awarded and are required to be reported at this time because they constitute derivative securities. The other half do not constitute derivative securities and therefore are not required to be reported at this time.

9. Each Performance Share represents a contingent right to receive 0 to 1.5 shares of Common Stock. The conversion rate ultimately applied to these Performance Shares will be determined based on the compounded annual growth rate of the Common Stock between January 1, 2010 and December 31, 2012.

	/s/ Kirk W. Reich	06/10/2010
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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