Worthington CEO granted 5.09 phantom stock units
WOR’s President & CEO received additional phantom stock units under a deferred compensation plan, bringing his reported phantom and common share holdings to updated levels.
Rhea-AI Filing Summary
WORTHINGTON ENTERPRISES, INC. (symbol: WOR) is the issuer of record for a Form 4 filing submitted to the SEC. HAYEK JOSEPH B reported acquisition or exercise transactions in this Form 4 filing.
WORTHINGTON ENTERPRISES, INC. (WOR) reported that President & CEO Joseph B. Hayek received a grant of 5.09 phantom stock units on September 4, 2026 under the company’s Deferred Compensation Plan, tracking WOR common shares on a one-for-one basis. Following this award and dividend reinvestments, he holds 6,217.35 phantom stock units, 239,125 common shares directly, and additional common shares indirectly through IRAs. No Rule 10b5-1 trading plan is reported.
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Insider Trade Summary
Grant/Award: 5.09 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 | 5.09 | $62.49 | $318.07 |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares F1 | -- | -- | -- |
Holdings After Transaction:
Phantom Stock Acquired Under the Deferred Compensation Plan — 6,217.35 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: 5.09 units
Phantom stock units after transaction: 6,217.35 units
Reference price for phantom stock grant: $62.49 per unit
+3 more
6 metrics
Phantom stock units granted
5.09 units
Grant/award acquisition on September 4, 2026 under the Deferred Compensation Plan
Phantom stock units after transaction
6,217.35 units
Theoretical WOR common shares credited in the phantom stock fund after the award
Reference price for phantom stock grant
$62.49 per unit
Per-unit value used for the 5.09 phantom stock units on September 4, 2026
Direct common share holdings
239,125 shares
WOR common shares held directly by Joseph B. Hayek after the reported date
Indirect IRA holdings (Merrill Lynch)
2,000 shares
WOR common shares held indirectly via an IRA at Merrill Lynch
Indirect IRA holdings (Vanguard)
1,683 shares
WOR common shares held indirectly via an IRA at Vanguard, including dividend reinvestment
Key Terms
phantom stock, Deferred Compensation Plan, dividend reinvestment feature, nonqualified 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
"phantom stock credited to the reporting person's account in the ... 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 unfunded theoretical common shares ... credited pursuant to the dividend reinvestment feature"
nonqualified plan financial
"the additional unfunded theoretical common shares ... credited pursuant to the dividend reinvestment feature of the 2005 NQ Plan"
phantom stock fund financial
"any amount credited in a participant's account to the phantom stock fund may not be transferred"
FAQ
What insider transaction did WOR report for President & CEO Joseph B. Hayek?
WORTHINGTON ENTERPRISES reported that Joseph B. Hayek acquired 5.09 phantom stock units on September 4, 2026 as a grant or award under the Amended and Restated 2005 Deferred Compensation Plan for Directors.
How are WOR phantom stock units credited and distributed under the deferred compensation plan?
The phantom stock units are unfunded theoretical WOR common shares that track WOR stock one-for-one. Under the plan, amounts in the phantom stock fund generally cannot be transferred to other options after October 1, 2014, and distributions are made only in WOR common shares, usually upon leaving the company.
Were the reported WOR phantom stock units affected by dividend reinvestment features?
Yes. Footnotes state that the totals include additional unfunded phantom shares credited via the dividend reinvestment feature of the 2005 nonqualified plan on June 29, 2026, and additional common shares in an IRA via its dividend reinvestment feature as of June 30, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
