Worthington controller granted 4.71 phantom stock units
CHAN KEVIN J reported acquisition or exercise transactions in this Form 4 filing.
Rhea-AI Filing Summary
CHAN KEVIN J reported acquisition or exercise transactions in this Form 4 filing.
Worthington Enterprises Controller Kevin J. Chan received 4.71 units of phantom stock on April 2, 2026, credited under the company’s deferred compensation plan. These phantom stock units track Worthington common shares one-for-one and are generally payable in common shares after leaving the company.
Following this award, Chan’s phantom stock balance stands at 226.58 theoretical common shares. The filing also shows he directly holds 5,806 common shares and indirectly holds 3,026.03 common shares through a 401(k) plan as of April 2, 2026.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 4.71 shares
Grant/Award
3 txns
Insider
CHAN KEVIN J
Role
Controller
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 4.71 | $52.04 | $245.11 |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
Holdings After Transaction:
Phantom Stock — 226.58 contracts (Direct);
Common Shares — 5,806 shares (Direct);
Common Shares — 3,026.03 shares (Indirect, By 401(k) Plan)
Footnotes (4)
- F1. The information in this report is based on a 401(k) Plan statement dated as of April 2, 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, 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 theoretical Worthington Enterprises, Inc. common shares deemed investment option pursuant to the dividend reinvestment feature of the 2005 NQ Plan on March 27, 2026.
Key Figures
Phantom stock units granted: 4.71 units
Phantom stock price reference: $52.04 per unit
Total phantom stock after award: 226.58 units
+3 more
6 metrics
Phantom stock units granted
4.71 units
Grant/award acquisition on April 2, 2026
Phantom stock price reference
$52.04 per unit
Transaction price per phantom stock unit
Total phantom stock after award
226.58 units
Theoretical WOR common shares after April 2, 2026 award
Direct common shares held
5,806 shares
Direct ownership as of April 2, 2026
Indirect 401(k) common shares
3,026.03 shares
Indirect ownership by 401(k) Plan as of April 2, 2026
Phantom stock conversion price
$0.00
Conversion or exercise price for phantom stock units
Key Terms
Phantom Stock, 401(k) Plan, Deferred Compensation Plan, dividend reinvestment feature, +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.
401(k) Plan financial
"The information in this report is based on a 401(k) Plan statement dated as of April 2, 2026."
A 401(k) plan is a workplace retirement account that lets employees set aside part of their pay into a tax-advantaged savings pot, often with employers adding matching contributions — like a workplace piggy bank for future income. It matters to investors because the amount people save and how employers fund these plans influence consumer spending, corporate payroll costs and the flow of money into financial markets, which can affect stock prices and company valuations.
Deferred Compensation Plan financial
"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
"credited pursuant to the theoretical Worthington Enterprises, Inc. common shares deemed investment option pursuant to the dividend reinvestment feature..."
nonqualified plan financial
"credited pursuant to the dividend reinvestment feature of the 2005 NQ Plan on March 27, 2026."
FAQ
What insider transaction did Worthington Enterprises (WOR) report for Kevin J. Chan?
Worthington Enterprises reported that Controller Kevin J. Chan received 4.71 phantom stock units on April 2, 2026. These units are credited under a deferred compensation plan and track common shares one-for-one, increasing his theoretical share-based compensation exposure.
What is the size of Kevin J. Chan’s phantom stock position in Worthington Enterprises (WOR)?
After the latest award, Kevin J. Chan holds 226.58 units of phantom stock tied to Worthington common shares. These theoretical shares are part of the company’s deferred compensation structure and are generally distributed in actual common shares after his employment ends.
What indirect Worthington Enterprises (WOR) holdings does Kevin J. Chan have through a 401(k) plan?
Kevin J. Chan indirectly holds 3,026.03 Worthington Enterprises common shares through a 401(k) plan as of April 2, 2026. These shares are reflected based on a 401(k) statement and represent retirement-plan exposure to the company’s stock.
How do Worthington Enterprises (WOR) phantom stock units work for Kevin J. Chan?
Phantom stock units in Chan’s deferred compensation plan track Worthington common shares on a one-for-one basis. Since October 1, 2014, amounts in the phantom stock fund generally cannot be transferred to other options and are distributed in WOR common shares upon leaving the company.
What created the additional 4.71 phantom stock units for Kevin J. Chan at Worthington Enterprises (WOR)?
The additional 4.71 phantom stock units were credited pursuant to the dividend reinvestment feature of Worthington’s 2005 Nonqualified Plan. This feature reinvests theoretical dividends into additional phantom shares, increasing Chan’s deferred share-based balance over time.
AI-generated analysis. How Rhea-AI works. Not financial advice.
