Worthington CEO granted phantom stock units
HAYEK JOSEPH B reported acquisition or exercise transactions in this Form 4 filing.
Rhea-AI Filing Summary
HAYEK JOSEPH B reported acquisition or exercise transactions in this Form 4 filing.
Worthington Enterprises President & CEO Joseph B. Hayek received 4.94 units of phantom stock on July 24, 2026 at $56 per unit under a deferred compensation plan, increasing his phantom stock balance to 6,202.64 units. These theoretical shares track Worthington common stock one-for-one and are distributed only in common shares after leaving the company. He also directly holds 239,125 common shares, plus 2,000 indirect shares in a Merrill Lynch IRA and 1,683 in a Vanguard IRA that include dividend reinvestments.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 4.94 shares
Grant/Award
4 txns
Insider
HAYEK JOSEPH B
Role
President & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Acquired Under the Deferred Compensation Plan F2, F3, F4 | 4.94 | $56.00 | $276.64 |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares F1 | -- | -- | -- |
Holdings After Transaction:
Phantom Stock Acquired Under the Deferred Compensation Plan — 6,202.64 contracts (Direct);
Common Shares — 239,125 shares (Direct);
Common Shares — 2,000 shares (Indirect, By IRA (Merrill-Lynch));
Common Shares — 1,683 shares (Indirect, By IRA (Vanguard))
Footnotes (4)
- F1. The amount reported includes additional common shares acquired pursuant to the dividend reinvestment feature of the IRA as reported in the plan statement dated June 30, 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 for Directors, 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.
- F4. The amount reported includes the additional unfunded theoretical common shares (i.e., phantom stock) credited pursuant to the dividend reinvestment feature of the 2005 NQ Plan on June 29, 2026.
Key Figures
Phantom stock units granted: 4.94 units
Grant price per phantom unit: $56.00 per unit
Phantom stock balance after grant: 6,202.64 units
+4 more
7 metrics
Phantom stock units granted
4.94 units
Grant on July 24, 2026 under deferred compensation plan
Grant price per phantom unit
$56.00 per unit
Price associated with 4.94 phantom stock units on July 24, 2026
Phantom stock balance after grant
6,202.64 units
Total theoretical WOR common shares in the deferred compensation plan
Direct common shares held
239,125 shares
Direct Worthington Enterprises common share holdings after the reported transactions
Indirect IRA shares (Merrill Lynch)
2,000 shares
Common shares held indirectly by IRA (Merrill-Lynch)
Indirect IRA shares (Vanguard)
1,683 shares
Common shares held indirectly by IRA (Vanguard), including dividend reinvestment as of June 30, 2026
Dividend reinvestment credit date (phantom stock)
June 29, 2026
Additional unfunded theoretical shares credited under 2005 NQ Plan
Key Terms
phantom stock, Deferred Compensation Plan, dividend reinvestment feature, 2005 NQ Plan, +1 more
5 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 ... Deferred Compensation Plan for Directors"
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.
dividend reinvestment feature financial
"includes additional common shares acquired pursuant to the dividend reinvestment feature of the IRA"
2005 NQ Plan financial
"additional unfunded theoretical common shares credited pursuant to the dividend reinvestment feature of the 2005 NQ Plan"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Worthington (WOR) report for Joseph B. Hayek?
Worthington reported that Joseph B. Hayek received 4.94 units of phantom stock on July 24, 2026 at $56 per unit. The award was made under a deferred compensation plan and increased his phantom stock balance to 6,202.64 units tied to Worthington common shares.
What are Joseph B. Hayek’s phantom stock holdings at Worthington (WOR)?
After the reported grant, Joseph B. Hayek holds 6,202.64 units of phantom stock in a deferred compensation plan. These units are theoretical shares that track Worthington common stock one-for-one and are paid out only in common shares after he leaves the company.
What is phantom stock in Worthington’s (WOR) deferred compensation plan?
Phantom stock in the plan represents theoretical WOR common shares credited to an account, tracking actual shares one-for-one. Since October 1, 2014, amounts in the phantom stock fund generally cannot be reallocated and are distributed only in WOR common shares after leaving the company.
Was Hayek’s Worthington (WOR) phantom stock award under a Rule 10b5-1 trading plan?
The filing’s Rule 10b5-1 checkbox is not marked, so the phantom stock acquisition is not reported as made under a Rule 10b5-1 trading plan. It appears as a compensation-related award in the deferred compensation plan.
How did dividend reinvestment affect Hayek’s Worthington (WOR) holdings?
Dividend reinvestment increased several positions. The Vanguard IRA balance includes additional common shares from a dividend reinvestment feature as of June 30, 2026, and the phantom stock balance includes extra theoretical shares credited via a similar feature on June 29, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
