[Form 4] Worthington Steel, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Sidney A. Ribeau, a director of Worthington Steel, Inc. (WS), was granted 5,836 restricted common shares on 09/26/2025 under the Worthington Steel, Inc. 2023 Equity Incentive Plan for Non-Employee Directors. The restricted shares were issued at a stated price of $0 and will vest on the date of the companys next Annual Meeting of Shareholders if Mr. Ribeau remains on the board. After the grant, the filing reports Mr. Ribeau beneficially owns 78,843 common shares. The Form 4 was submitted by attorney-in-fact Joseph Y. Heuer and signed on 09/30/2025.

Positive

• Director alignment with shareholders: The restricted stock grant increases Sidney A. Ribeaus beneficial ownership to 78,843 shares, aligning his interests with shareholders.

Negative

• None.

Insights

Financial Analyst

TL;DR: Director received a non-cash restricted share award, increasing his reported beneficial ownership to 78,843 shares.

The directors receipt of 5,836 restricted shares at $0 is a customary equity-based compensation mechanism for non-employee directors. This transaction increases reported insider alignment with shareholders by raising beneficial ownership. The grant vests contingent on continued board service through the next Annual Meeting, indicating retention-focused compensation rather than immediate liquidity. The filing shows no sale or disposition and no exercise of derivatives.

Corporate Governance Expert

TL;DR: Non-employee director awarded restricted stock with time-based vesting tied to board tenure.

This restricted stock award, granted under the companys 2023 Equity Incentive Plan for Non-Employee Directors and vesting at the next Annual Meeting, is a standard governance practice to align director incentives with shareholder outcomes and encourage continued service. The Form 4 discloses the grant, vesting condition, and resulting beneficial ownership, providing transparency consistent with Section 16 reporting obligations.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

RIBEAU SIDNEY A

(Last) (First) (Middle)

100 OLD WILSON BRIDGE ROAD

(Street)

COLUMBUS OH 43085

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Worthington Steel, Inc. [ WS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/26/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares	09/26/2025		A(1)		5,836	A	$0	78,843	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. An Award of restricted stock was granted pursuant to the Worthington Steel, Inc. 2023 Equity Incentive Plan for Non-Employee Directors. The restricted stock will vest on the date on which the next Annual Meeting of Shareholders of Worthington Steel, Inc. is held if the non-employee director remains on the Board.

	/s/ Joseph Y. Heuer, as attorney-in-fact for Sidney A. Ribeau	09/30/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did Sidney A. Ribeau report on the Form 4 for Worthington Steel (WS)?

The Form 4 reports a grant of 5,836 restricted common shares on 09/26/2025 under the 2023 Equity Incentive Plan for Non-Employee Directors.

What is the vesting condition for the restricted shares reported by Sidney A. Ribeau?

The restricted shares will vest on the date of the companys next Annual Meeting of Shareholders if the non-employee director remains on the Board.

How many shares does Sidney A. Ribeau beneficially own after the reported transaction?

After the grant, the filing reports Sidney A. Ribeau beneficially owns 78,843 common shares.

What price was associated with the restricted share grant in the Form 4?

The restricted share award was reported with a price of $0.

Who signed the Form 4 and when was it filed?

The Form 4 was signed by Joseph Y. Heuer, as attorney-in-fact for Sidney A. Ribeau, and dated 09/30/2025.