CHAN KEVIN J 4

What Happened
Kevin J. Chan, Controller of Worthington Enterprises, received an award/acquisition of 13.29 theoretical (phantom) Worthington shares on 2026-03-24 at an implicit value of $51.88 per share, totaling about $689. This was recorded as a derivative award (transaction code A) credited to his account in the company’s deferred compensation/401(k) plan — not an open-market purchase of actual shares.

Key Details

• Transaction date and reported value: 2026-03-24; 13.29 shares @ $51.88 each; total ≈ $689.
• Form filed: 2026-03-25 (appears timely for a next-day filing).
• Shares owned after transaction: not specified in the filing.
• Nature of award: The shares are “phantom stock” credited under the Worthington Deferred Compensation Plan (per footnotes). They track WOR common shares 1:1 but are theoretical/unfunded until distribution.
• Footnotes of note:
  • F1: Report based on a 401(k) statement dated March 20, 2026.
  • F2–F3: Phantom stock tracks common shares one-for-one and, since Oct 1, 2014, cannot be moved to other deemed investment options until distributed; distributions are made only in WOR common shares (generally upon leaving the company).
  • F4: Amount includes dividend reinvestment credits through Dec 31, 2025.

Context
This was a deferred-compensation credit (phantom shares), not a cash purchase or sale of tradable stock. Such credits are routine plan accounting events and do not represent immediate market transactions or liquid holdings. Because distribution is generally in actual WOR shares only upon plan distribution (e.g., separation from service), this award increases phantom/share-equivalent holdings but does not provide immediately tradable shares.