Worthington Enterprises (WOR) CEO adds phantom stock and holds 239,125 shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
HAYEK JOSEPH B reported acquisition or exercise transactions in this Form 4 filing.
Worthington Enterprises, Inc. reported that President & CEO Joseph B. Hayek received an additional 5.1 units of phantom stock under the Amended and Restated 2005 Deferred Compensation Plan for Directors at a reference price of $54.27 per unit, tracking common shares on a one-for-one basis. Following this award and dividend reinvestments, Hayek now has 6,197.7 phantom stock units and holds common shares both directly and indirectly through IRAs, including 239,125 common shares held directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
HAYEK JOSEPH B
Role
President & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Acquired Under the Deferred Compensation Plan | 5.1 | $54.27 | $276.78 |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
Holdings After Transaction:
Phantom Stock Acquired Under the Deferred Compensation Plan — 6,197.7 shares (Direct);
Common Shares — 239,125 shares (Direct);
Common Shares — 2,000 shares (Indirect, By IRA (Merrill-Lynch))
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 June 30, 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 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 June 29, 2026.
Key Figures
Phantom stock units acquired: 5.1000 units
Reference price per phantom unit: $54.2700
Total phantom stock units after transaction: 6197.7000 units
+3 more
6 metrics
Phantom stock units acquired
5.1000 units
Phantom stock credited on 2026-07-10 under deferred compensation plan
Reference price per phantom unit
$54.2700
Price per unit for 5.1 phantom stock units acquired
Total phantom stock units after transaction
6197.7000 units
Total theoretical WOR common shares tracked in deferred compensation plan
Direct common shares held
239125.0000 shares
Common Shares, direct ownership after reported holdings update
Indirect IRA holdings (Vanguard)
1683.0000 shares
Common Shares held indirectly by IRA (Vanguard)
Indirect IRA holdings (Merrill-Lynch)
2000.0000 shares
Common Shares held indirectly by IRA (Merrill-Lynch)
Key Terms
phantom stock, Deferred Compensation Plan, dividend reinvestment feature, unfunded theoretical common shares
4 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
"phantom stock 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.
dividend reinvestment feature financial
"includes additional common shares acquired pursuant to the dividend reinvestment feature of the IRA"
FAQ
What did Worthington Enterprises (WOR) report for CEO Joseph B. Hayek in this Form 4?
The Form 4 shows that 5.1 units of phantom stock were credited to Joseph B. Hayek under a deferred compensation plan at a reference price of $54.27 per unit, increasing his tracked interest in Worthington common shares.
How many phantom stock units does the WOR CEO hold after the latest transaction?
After the latest credit, Joseph B. Hayek holds 6,197.7 phantom stock units. These unfunded theoretical Worthington common shares track WOR stock one-for-one and are distributable only in common shares, generally upon leaving the company.
How does the Worthington deferred compensation plan treat phantom stock units for WOR executives?
Under the plan, phantom stock units track WOR common shares one-for-one. Since October 1, 2014, amounts in the phantom stock fund cannot be transferred to other deemed investment options and are generally distributed only in WOR common shares upon separation.
Were the additional WOR phantom stock units tied to dividend reinvestment?
Yes. Footnotes state that the amount reported includes additional phantom stock units credited through the dividend reinvestment feature of the 2005 nonqualified plan as of June 29, 2026, increasing the CEO’s deferred phantom balance.