CHAN KEVIN J 4

What Happened

• Kevin J. Chan, Controller of Worthington Enterprises, was credited with 5.15 theoretical/phantom WOR shares on March 20, 2026. The report values the award at $47.64 per share, total ~$245. This is an acquisition (award) of derivative shares in a deferred compensation/401(k) plan, not an open-market purchase of actual stock.

Key Details

• Transaction date and price: March 20, 2026 — 5.15 phantom shares at $47.64 each (total ~$245). (Transaction code: A = Award/Grant/Other acquisition; reported as derivative.)
• Shares owned after transaction: Not specified in the Form 4 provided.
• Filing timeliness: Report filed March 23, 2026; filing appears timely under Section 16 deadlines.
• Source and plan notes: The credit is reported based on a 401(k) plan statement dated March 20, 2026 (F1). The credited phantom shares track WOR common shares one-for-one (F2).
• Plan mechanics: Under the Plan (effective Oct 1, 2014), amounts credited to the phantom stock option cannot be moved to other deemed investments until distribution; distributions are made only in WOR common shares and generally occur when an employee leaves the company (F3). The reported amount includes additional unfunded theoretical shares from dividend reinvestment as of Dec 31, 2025 (F4).

Context

• This was a derivative/phantom share credit in a deferred-compensation/401(k) vehicle — it does not represent a current transfer of actual WOR common stock to the insider. Such plan credits are typically administrative and routine; they don’t by themselves signal a buy or sell sentiment.