Worthington controller granted 4.1 phantom stock units
CHAN KEVIN J reported acquisition or exercise transactions in this Form 4 filing.
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Form Type
4
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 routine compensation-related update. He received an award of 4.1 units of phantom stock on common shares at $59.68 per unit, increasing his phantom stock balance to 255.46 units that track WOR common shares one-for-one under a deferred compensation plan. He also reported indirect holdings of 3,055.43 common shares through a 401(k) plan and 5,806 common shares held directly.
Insider Trade Summary
Grant/Award: 4.1 shares
Grant/Award
3 txns
Insider
CHAN KEVIN J
Role
Controller
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 4.1 | $59.68 | $244.69 |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
Holdings After Transaction:
Phantom Stock — 255.46 contracts (Direct);
Common Shares — 5,806 shares (Direct);
Common Shares — 3,055.43 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 June 12, 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: 4.1 units
Phantom stock price: $59.68 per unit
Total phantom stock units: 255.46 units
+2 more
5 metrics
Phantom stock grant
4.1 units
Grant of phantom stock on June 12, 2026
Phantom stock price
$59.68 per unit
Price used for 4.1 phantom stock units
Total phantom stock units
255.46 units
Phantom stock balance following transaction
Direct common share holdings
5,806 shares
Common shares held directly after update
401(k) plan WOR holdings
3,055.43 shares
Theoretical common shares via 401(k) plan as of June 12, 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
"Worthington Industries, Inc. Amended and Restated 2005 Deferred Compensation Plan, as amended (the "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
"The information in this report is based on a 401(k) Plan statement"
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Worthington Enterprises (WOR) insider Kevin J. Chan report on this Form 4?
Kevin J. Chan reported a compensation-related grant of 4.1 phantom stock units tied to Worthington Enterprises common shares. The filing also updates his direct and 401(k) plan share holdings as of June 12, 2026, without any open-market buying or selling activity.
How many phantom stock units does Kevin J. Chan hold in Worthington Enterprises (WOR)?
After the latest grant, Kevin J. Chan holds 255.46 phantom stock units linked to Worthington Enterprises common shares. These units are credited under the company’s deferred compensation plan and track WOR common shares on a one-for-one basis until distribution in actual shares.
What are phantom stock units in the Worthington Enterprises (WOR) deferred compensation plan?
Phantom stock units are theoretical WOR common shares credited under the Worthington Industries, Inc. Amended and Restated 2005 Deferred Compensation Plan. They track WOR common shares one-for-one and are ultimately distributed only in actual WOR common shares, generally when the participant leaves the company.
When can Worthington Enterprises (WOR) phantom stock balances be transferred or distributed?
Under the deferred compensation plan, amounts in the phantom stock fund cannot be moved to other investment options after October 1, 2014. Distributions occur only in WOR common shares and generally begin after the participant leaves Worthington Enterprises and its subsidiaries, aligning with long-term incentive goals.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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