CHAN KEVIN J 4
4 · WORTHINGTON ENTERPRISES, INC. · Filed Apr 6, 2026
Research Summary
AI-generated summary of this filing
Worthington (WOR) Controller Kevin J. Chan Receives Award
What Happened
Kevin J. Chan, Controller of Worthington Enterprises, was credited with 4.71 theoretical (phantom) WOR common shares as an award under the Worthington 2005 Deferred Compensation Plan. The filing reports an acquisition value of $52.04 per share, totaling roughly $245. This was an award/credit to a 401(k)/deferred compensation account (a derivative interest), not an open-market purchase of actual common stock.
Key Details
- Transaction type: A (award/grant) — derivative (phantom stock)
- Transaction date: April 2, 2026; Filing date: April 6, 2026 (timely)
- Shares credited: 4.71 phantom WOR shares at $52.04 each; total value ≈ $245
- Security/plan: Worthington Enterprises, Inc. Amended and Restated 2005 Deferred Compensation Plan (phantom stock option in 401(k) plan) — based on a 401(k) statement dated April 2, 2026 (F1, F2)
- Shares owned after transaction: not specified in the Form 4
- Notable footnotes: phantom shares track WOR common shares 1-for-1 (F2); amounts credited to the phantom stock fund generally cannot be transferred to other deemed investment options after Oct 1, 2014 and are distributed only in WOR common shares, typically upon leaving the company (F3); the reported amount includes additional unfunded theoretical shares from dividend reinvestment as of March 27, 2026 (F4).
Context
This was a routine plan credit to a deferred compensation/401(k) phantom stock account rather than a direct purchase or sale of stock. Phantom shares are a derivative that mirror common shares and are usually converted into actual WOR shares only upon distribution from the plan (e.g., after employment ends). Such awards are common and do not by themselves indicate a change in insider sentiment.
Insider Transaction Report
- Award
Phantom Stock
[F2][F3][F4]2026-04-02$52.04/sh+4.71$245→ 226.58 total→ Common Shares (4.71 underlying)
- 5,806
Common Shares
- 3,026.03(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 April 2, 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 March 27, 2026.