Worthington (WOR) insider Hayek reports 210,814-sale and phantom update
Rhea-AI Filing Summary
Worthington Enterprises, Inc. (WOR) insider Joseph B. Hayek reported several transactions dated 10/03/2025. The filing shows a disposition of 210,814 common shares and retained indirect holdings of 2,000 and 1,665 common shares held in IRAs. Hayek also acquired 4.98 theoretical common shares under the deferred compensation plan on 10/03/2025 at a reported per-share equivalent of $55.63, bringing his total phantom-stock balance to 4,981.32 deemed shares. Explanations note dividend reinvestment increased the IRA and phantom balances and that phantom shares are paid in WOR common shares upon distribution.
Positive
- Continued ownership via IRAs of 2,000 and 1,665 common shares indicates retained insider exposure
- Phantom-stock balance increased to 4,981.32 deemed shares via dividend reinvestment
Negative
- Large disposition of 210,814 common shares reported on 10/03/2025, which materially reduces direct holding
- Phantom shares are unfunded and restricted (cannot be transferred and are payable only in common shares upon distribution)
Insights
Large sale plus continued deferred-share exposure; watch timing and remaining holdings.
Joseph B. Hayek reported a disposition of 210,814 common shares on 10/03/2025, while maintaining indirect IRA holdings of 2,000 and 1,665 shares. The filing also credits 4.98 additional phantom shares under the deferred compensation plan, increasing the phantom total to 4,981.32 deemed shares.
The primary dependencies are plan payout terms and dividend reinvestment mechanics; phantom shares are not immediately transferable and are distributed in common shares upon separation. Monitor any future Form 4s for additional open-market sales or changes in deferred-compensation elections over the next 12 months.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Acquired Under the Deferred Compensation Plan | 4.98 | $55.63 | $277.04 |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
Footnotes (1)
- The amount reported includes additional common shares acquired pursuant to the dividend reinvestment feature of the IRA as reported in the plan statement dated September 30, 2025. 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. 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. 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 September 29, 2025.
