Worthington Enterprises (WOR) controller receives new phantom stock grant
Rhea-AI Filing Summary
CHAN KEVIN J reported acquisition or exercise transactions in this Form 4 filing.
Worthington Enterprises, Inc. Controller Kevin J. Chan received 5.15 units of phantom stock credited under a deferred compensation plan. The phantom stock tracks Worthington common shares on a one-for-one basis and was valued at $47.64 per unit on the grant date.
After this award, Chan holds 207.82 phantom stock units and 5,806 common shares directly. He also has 3,008.62 common shares indirectly through a 401(k) plan, based on a statement dated March 20, 2026. Phantom stock balances generally are not transferable to other investment options and are distributed only in Worthington common shares, typically upon leaving the company and its subsidiaries.
Positive
- None.
Negative
- None.
Insights
Routine phantom stock award increases deferred equity compensation, with no open-market trading.
Controller Kevin J. Chan received 5.15 units of phantom stock, a form of deferred equity compensation that tracks Worthington Enterprises common shares one-for-one. The award is recorded at $47.64 per unit, adding to a total of 207.82 phantom units.
Phantom stock under the Worthington deferred compensation plan cannot be shifted into other investment options after October 1, 2014. Distributions occur only in WOR common shares, generally when the employee leaves Worthington and its subsidiaries, so this award increases long-term equity exposure rather than reflecting an immediate buy or sell decision.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 5.15 | $47.64 | $245.35 |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
Footnotes (1)
- The information in this report is based on a 401(k) Plan statement dated as of March 20, 2026. 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. 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 theoretical Worthington Enterprises, Inc. common shares deemed investment option pursuant to the dividend reinvestment feature of the 2005 NQ Plan on December 31, 2025.
