HAYEK JOSEPH B 4
4 · WORTHINGTON ENTERPRISES, INC. · Filed Apr 6, 2026
Research Summary
AI-generated summary of this filing
Worthington (WOR) CEO Joseph Hayek Receives Award of 5.32 Shares
What Happened Joseph B. Hayek, President & CEO and a director of Worthington Enterprises, received an award/acquisition of 5.32 theoretical (derivative/phantom) WOR shares on April 2, 2026. The filing values the award at $52.04 per share, for a total of approximately $277. This was an award/grant (code A), not an open‑market purchase or sale.
Key Details
- Transaction date: 2026-04-02; Price/value reported: $52.04 per share; total value ≈ $277.
- Transaction type: A = Award/Grant of derivative (phantom) shares, not immediately issued common stock.
- Shares owned after transaction: Not specified in the provided filing excerpt.
- Footnotes:
- F1: Includes additional common shares acquired via dividend reinvestment feature of an IRA (plan statement dated 12/31/2025).
- F2–F4: The credited shares are "phantom stock" under the 2005 Deferred Compensation Plan (track WOR shares 1:1); phantom shares are unfunded, include dividend reinvestment credit (3/27/2026), and generally can't be transferred to other deemed investments after 10/1/2014.
- Timeliness: Filing date 2026-04-06 for a 2026-04-02 transaction — filed within the required two business days (timely).
Context This transaction reflects compensation/plan credits (deferred compensation and dividend reinvestment) resulting in theoretical or phantom share credits. Phantom shares track WOR common stock on a one‑for‑one basis but are unfunded rights that are typically settled in actual WOR common shares upon distribution (often when the participant leaves the company). Such awards are standard compensation mechanics and do not represent an open‑market purchase or sale.
Insider Transaction Report
- Award
Phantom Stock Acquired Under the Deferred Compensation Plan
[F2][F3][F4]2026-04-02$52.04/sh+5.32$277→ 5,272.93 total→ Common Shares (5.32 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 March 27, 2026.