Worthington controller granted 4.04 phantom stock units
Controller Kevin J. Chan received additional phantom stock units tied to WOR common shares while maintaining over 10,000 WOR shares across direct and 401(k) holdings.
Rhea-AI Filing Summary
WORTHINGTON ENTERPRISES, INC. (symbol: WOR) is the issuer of record for a Form 4 filing submitted to the SEC. CHAN KEVIN J reported acquisition or exercise transactions in this Form 4 filing.
WORTHINGTON ENTERPRISES, INC. (WOR) reports that Controller Kevin J. Chan received a grant of 4.04 units of phantom stock under the Worthington Industries, Inc. Amended and Restated 2005 Deferred Compensation Plan on September 4, 2026 at a reference value of $62.49 per unit. After this grant, Chan holds 328.09 phantom stock units, which track WOR common shares on a one-for-one basis and are distributable only in WOR common shares, generally upon leaving Worthington Enterprises and its subsidiaries. On the same date, Chan’s direct holdings of WOR common shares total 7,036 shares, and his indirect holdings through a 401(k) plan total 3,126.28 shares, based on a 401(k) statement dated September 4, 2026. No transactions are reported under a Rule 10b5-1 trading plan.
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Insider Trade Summary
Grant/Award: 4.04 shares
Grant/Award
3 txns
Insider
CHAN KEVIN J
Role
Controller
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Acquired Under the Deferred Compensation Plan F2, F3, F4 | 4.04 | $62.49 | $252.46 |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares F1 | -- | -- | -- |
Holdings After Transaction:
Phantom Stock Acquired Under the Deferred Compensation Plan — 328.09 contracts (Direct);
Common Shares — 7,036 shares (Direct);
Common Shares — 3,126.28 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 September 4, 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 dividend reinvestment feature of the 2005 NQ Plan on June 29, 2026.
Key Figures
Phantom stock units granted: 4.04 units
Reference value per phantom unit: $62.49 per unit
Total phantom stock units after grant: 328.09 units
+4 more
7 metrics
Phantom stock units granted
4.04 units
Grant under Deferred Compensation Plan on September 4, 2026
Reference value per phantom unit
$62.49 per unit
Value used for 4.04 phantom stock units on September 4, 2026
Total phantom stock units after grant
328.09 units
Phantom stock balance following September 4, 2026 grant
Direct WOR common shares held
7,036 shares
Direct holdings after reported transactions on September 4, 2026
Indirect WOR common shares via 401(k)
3,126.28 shares
401(k) Plan statement dated September 4, 2026
Dividend reinvestment credit date
June 29, 2026
Additional phantom stock credited via dividend reinvestment feature
Transfer restriction effective date
October 1, 2014
Date after which phantom stock amounts cannot be reallocated to other options
Key Terms
phantom stock, Deferred Compensation Plan, dividend reinvestment feature, 401(k) 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 the additional unfunded theoretical common shares ... credited pursuant to the dividend reinvestment feature"
401(k) Plan financial
"based on a 401(k) Plan statement dated as of September 4, 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.
FAQ
What transaction did WOR Controller Kevin J. Chan report on this Form 4 for WOR?
He reported a grant of 4.04 phantom stock units under the Worthington Industries, Inc. Amended and Restated 2005 Deferred Compensation Plan on September 4, 2026, credited at a reference value of $62.49 per unit and tracking WOR common shares one-for-one.
Are the phantom stock units under the WOR Deferred Compensation Plan freely transferable between investment options?
No. The Plan provides that, effective October 1, 2014 and thereafter, any amount credited to the phantom stock fund may not be transferred to an alternative deemed investment option until distribution, which is made only in WOR common shares.
Were the transactions in this WOR Form 4 made under a Rule 10b5-1 trading plan?
No. The filing indicates that no Rule 10b5-1 trading plan is affirmed for the reported transactions, and the footnotes do not describe any pre-arranged trading arrangement.
How were additional phantom stock units credited to Kevin J. Chan’s account before this grant?
The filing states that the reported amount includes additional unfunded theoretical common shares credited on June 29, 2026 under the dividend reinvestment feature of the 2005 Nonqualified (NQ) Plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
