Worthington Enterprises (NYSE: WOR) grants controller new phantom stock units
Rhea-AI Filing Summary
CHAN KEVIN J reported acquisition or exercise transactions in this Form 4 filing.
WORTHINGTON ENTERPRISES, INC. Controller Kevin J. Chan reported a small compensation-related grant of phantom stock tied to the company’s common shares. He received 4.32 units of phantom stock at a reference price of $56.77 per unit, increasing his phantom stock balance to 251.36 units.
Phantom stock in the company’s deferred compensation plan tracks WOR common shares on a one-for-one basis and is generally payable only in WOR common shares after leaving the company. As of the same date, Chan also held 5,806 common shares directly and 3,049.82 common share-equivalent units indirectly through a 401(k) plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
CHAN KEVIN J
Role
Controller
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 4.32 | $56.77 | $245.25 |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
Holdings After Transaction:
Phantom Stock — 251.36 shares (Direct);
Common Shares — 5,806 shares (Direct);
Common Shares — 3,049.82 shares (Indirect, By 401(k) Plan)
Footnotes (3)
- F1. The information in this report is based on a 401(k) Plan statement dated as of May 29, 2026.
- F2. The theoretical WOR common shares ("phantom stock") credited to the reporting person's account in the Worthington Industries, Inc. Amended and Restated 2005 Deferred Compensation Plan, as amended (the "Plan") track WOR common shares on a one-for-one basis.
- F3. Prior to October 1, 2014, the account balances related to the phantom stock investment option could be immediately transferred to other deemed investment options under the terms of the Plan. The Plan provides that, effective October 1, 2014 and thereafter, any amount credited in a participant's account to the phantom stock fund may not be transferred to an alternative deemed investment option under the Plan until distribution from the Plan. Distributions are made only in WOR common shares and generally commence upon leaving Worthington Enterprises, Inc. and its subsidiaries.
Key Figures
Phantom stock grant: 4.32 units
Reference price per phantom unit: $56.77 per unit
Total phantom stock after grant: 251.36 units
+2 more
5 metrics
Phantom stock grant
4.32 units
Grant on May 29, 2026
Reference price per phantom unit
$56.77 per unit
Phantom stock award valuation
Total phantom stock after grant
251.36 units
Balance following May 29, 2026 grant
Direct common shares
5,806 shares
Common shares held directly after reported date
Indirect 401(k) share-equivalents
3,049.82 shares
Common share-equivalent units in 401(k) as of May 29, 2026
Key Terms
Phantom Stock, Deferred Compensation Plan, 401(k) Plan
3 terms
Phantom Stock financial
"The theoretical WOR common shares ("phantom stock") credited to the reporting person's account"
A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.
Deferred Compensation Plan financial
"credited to the reporting person's account in the Worthington Industries, Inc. Amended and Restated 2005 Deferred Compensation Plan"
A deferred compensation plan is an arrangement where an employer agrees to pay part of an employee’s pay or bonus at a later date instead of immediately, often to reduce current tax bills or to tie rewards to long-term performance. For investors it matters because these promises create future cash obligations and influence executive incentives and retention; they can affect a company’s reported liabilities, cash flow planning and the risk profile if the business faces financial trouble.
401(k) Plan financial
"based on a 401(k) Plan statement dated as of May 29, 2026"
A 401(k) plan is a workplace retirement account that lets employees set aside part of their pay into a tax-advantaged savings pot, often with employers adding matching contributions — like a workplace piggy bank for future income. It matters to investors because the amount people save and how employers fund these plans influence consumer spending, corporate payroll costs and the flow of money into financial markets, which can affect stock prices and company valuations.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Worthington Enterprises (WOR) report in Kevin Chan’s latest Form 4?
Worthington Enterprises reported a small phantom stock grant to Controller Kevin J. Chan. He received 4.32 phantom stock units, bringing his deferred phantom stock balance to 251.36 units, plus existing direct and 401(k) common share holdings.
How many Worthington Enterprises (WOR) phantom stock units does Kevin Chan now hold?
After the reported grant, Kevin Chan holds 251.36 phantom stock units. These units track WOR common shares one-for-one in the company’s deferred compensation plan and are generally settled in WOR common shares after he leaves the company.
What is the size of Kevin Chan’s new Worthington Enterprises (WOR) phantom stock award?
Kevin Chan’s new award is 4.32 phantom stock units at a reference price of $56.77. This is a routine compensation-related grant within the company’s deferred compensation plan, increasing his existing phantom stock balance rather than reflecting an open-market trade.
How does phantom stock work for Worthington Enterprises (WOR) executives like Kevin Chan?
Phantom stock units credit an executive’s account in the deferred compensation plan and track WOR common shares one-for-one. Plan rules state balances can’t be reallocated out of the phantom stock fund and are generally distributed only in WOR common shares after leaving the company.