HAYEK JOSEPH B 4
4 · WORTHINGTON ENTERPRISES, INC. · Filed Mar 9, 2026
Research Summary
AI-generated summary of this filing
Worthington (WOR) CEO Joseph Hayek Receives 5.43-Share Award
What Happened Joseph B. Hayek, President & CEO and a director of Worthington Enterprises, received a grant/award of 5.43 theoretical common shares on March 6, 2026. The award is reported at an equivalent price of $51.03 per share for a total reported value of approximately $277. This transaction is coded as an "A" (award/grant/acquisition) and involves derivative/phantom stock rather than an open-market purchase of outstanding shares.
Key Details
- Transaction date: 2026-03-06; Report filed: 2026-03-09 (timely filing).
- Amount: 5.43 shares × $51.03 = ~$277 (derivative award).
- Shares owned after transaction: not specified in the filing.
- Footnotes:
- Dividend reinvestment added shares in an IRA (F1).
- The credited units are "phantom stock" that track WOR common shares one-for-one under the 2005 Deferred Compensation Plan for Directors (F2).
- Phantom-stock balances generally cannot be transferred to other deemed investment options after Oct 1, 2014, and distributions are made only in WOR common shares, typically upon leaving the company (F3).
- Additional unfunded phantom shares were credited via dividend reinvestment on Dec 31, 2025 (F4).
Context This was a derivative award credited under a deferred compensation/phantom stock plan (not a cash purchase or open-market trade). Such awards increase a reporting person’s theoretical stake but are subject to plan distribution rules and are typically part of routine compensation or director compensation programs. The filing appears timely based on the reported dates.
Insider Transaction Report
- Award
Phantom Stock Acquired Under the Deferred Compensation Plan
[F2][F3][F4]2026-03-06$51.03/sh+5.43$277→ 5,054.82 total→ Common Shares (5.43 underlying)
- 210,814
Common Shares
- 2,000(indirect: By IRA)
Common Shares
- 1,671(indirect: By IRA)
Common Shares
[F1]
Footnotes (4)
- [F1]The amount reported includes additional common shares acquired pursuant to the dividend reinvestment feature of the IRA as reported in the plan statement dated December 31, 2025.
- [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 for Directors, 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 December 31, 2025.