Worthington (WOR) counsel has 31,806 shares after tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
WORTHINGTON ENTERPRISES, INC. executive Patrick J. Kennedy, VP–General Counsel & Secretary, reported routine tax-related share withholdings tied to restricted stock vesting. On June 29 and 30, a total of 2,286 Common Shares were withheld to satisfy his tax withholding obligations, at prices of $53.77 and $53.76 per share.
These Form 4 entries, coded "F," reflect payment of tax liabilities by delivering securities rather than open-market sales. After these transactions, Kennedy directly holds 31,806 Common Shares of Worthington Enterprises.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Kennedy Patrick J.
Role
VP-General Counsel & Secy
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Shares | 1,545 | $53.76 | $83K |
| Tax Withholding | Common Shares | 741 | $53.77 | $40K |
Holdings After Transaction:
Common Shares — 31,806 shares (Direct, null)
Footnotes (1)
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Key Figures
Tax-withheld shares total: 2,286 shares
June 29 withheld shares: 741 shares at $53.77
June 30 withheld shares: 1,545 shares at $53.76
+1 more
4 metrics
Tax-withheld shares total
2,286 shares
Shares withheld to satisfy tax obligations on vesting
June 29 withheld shares
741 shares at $53.77
Tax-withholding disposition of Common Shares
June 30 withheld shares
1,545 shares at $53.76
Tax-withholding disposition of Common Shares
Post-transaction holdings
31,806 shares
Common Shares directly owned after June 30 withholding
Key Terms
restricted stock, tax withholding obligation, tax-withholding disposition, Common Shares
4 terms
restricted stock financial
"Represents shares withheld upon the vesting of restricted stock in order to satisfy the reporting person's tax withholding obligation"
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
tax withholding obligation financial
"in order to satisfy the reporting person's tax withholding obligation upon such vesting"
tax-withholding disposition financial
"transaction_action: "tax-withholding disposition" for both Common Shares transactions"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
FAQ
What did Worthington (WOR) executive Patrick J. Kennedy report on this Form 4?
Patrick J. Kennedy reported tax-related share withholdings, not open-market trades. A total of 2,286 Worthington Common Shares were withheld upon restricted stock vesting to cover his tax obligations, leaving him with 31,806 shares directly owned.
Were Patrick J. Kennedy’s Worthington (WOR) Form 4 transactions open-market sales?
No, they were not open-market sales. Both transactions are coded “F,” indicating shares were withheld to pay tax liabilities on restricted stock vesting, rather than discretionary buying or selling in the open market.