CHAN KEVIN J 4
4 · WORTHINGTON ENTERPRISES, INC. · Filed Feb 9, 2026
Research Summary
AI-generated summary of this filing
Worthington (WOR) Controller Kevin Chan Receives Stock Award
What Happened Kevin J. Chan, Controller of Worthington Enterprises, received a derivative award credited to his 401(k) account under the company's deferred compensation plan: 4.15 theoretical WOR common shares at a reported per-share value of $59.10, totaling roughly $245. This was an acquisition (award) of phantom stock, not an open-market purchase of actual shares.
Key Details
- Transaction type: Award/acquisition of derivative (phantom) shares
- Transaction date: 2026-02-06; Filing date: 2026-02-09 (filed within the required reporting window)
- Amount: 4.15 theoretical shares @ $59.10 each = ~$245
- Shares owned after transaction: Not specified in this Form 4 (balance shown on a 401(k) statement referenced)
- Footnotes of note:
- F1: Report is based on a 401(k) statement dated Feb 6, 2026.
- F2: The reported shares are “phantom stock” that track WOR common shares one-for-one.
- F3: Phantom-stock credits after Oct 1, 2014 cannot be moved to other deemed investment options and are distributed only in WOR common shares (typically when leaving the company).
- F4: Amount includes additional unfunded theoretical shares from dividend reinvestment as of Dec 31, 2025.
Context This was a small-value derivative award credited inside a deferred compensation/401(k) plan, not a direct purchase of company stock. Phantom shares track the stock price but are not immediately issued as actual shares until distribution under plan terms, so this filing is informational rather than a clear bullish bet by the insider.
Insider Transaction Report
- Award
Phantom Stock
[F2][F3][F4]2026-02-06$59.10/sh+4.15$245→ 193.57 total→ Common Shares (4.15 underlying)
- 5,806
Common Shares
- 2,989.34(indirect: By 401(k))
Common Shares
[F1]
Footnotes (4)
- [F1]The information in this report is based on a 401(k) Plan statement dated as of February 6, 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 December 31, 2025.