CHAN KEVIN J 4/A
4/A · WORTHINGTON ENTERPRISES, INC. · Filed Jun 2, 2026
Research Summary
AI-generated summary of this filing
Worthington (WOR) Controller Kevin Chan Receives Award of 20.2 Shares
What Happened
Kevin J. Chan, Controller of Worthington Enterprises, received an award of 20.20 theoretical (phantom) Worthington shares on March 25, 2026. The phantom shares were valued at $49.51 each for a total reported value of approximately $1,000. This filing is an amendment correcting an earlier Form 4 reporting error.
Key Details
- Transaction type: Award/grant of derivative phantom shares (code A).
- Transaction date and price: March 25, 2026; 20.20 shares at $49.51 each (total ~$1,000).
- Shares owned after transaction: Not specified in this amended filing.
- Amendment note: The Form 4 filed June 2, 2026 corrects an administrative error — the original filing had reported 13.29 phantom shares credited on March 24, 2026 at $51.88 (now corrected to 20.20 shares on March 25 at $49.51).
- Dividend reinvestment: The reported amount includes additional unfunded theoretical shares credited under the plan’s dividend reinvestment feature as of December 31, 2025.
- Derivative details: These are "phantom" (unfunded theoretical) WOR shares under the company’s deferred compensation plan that track common shares one-for-one.
Context
- Phantom shares are a deferred-compensation derivative: no actual common shares were transferred now. Under the plan, distributions are made only in WOR common shares and generally occur when a participant leaves the company.
- This is an administrative correction (amended Form 4); it does not by itself indicate a market view or trading intent.
Insider Transaction Report
Form 4/AAmended
CHAN KEVIN J
Controller
Transactions
- Award
Phantom Stock
[F1][F2][F3][F4]2026-03-25$49.51/sh+20.2$1,000→ 228.02 total→ Common Shares (20.2 underlying)
Footnotes (4)
- [F1]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.
- [F2]This amendment is being filed to correct an administrative error and reflects that the original Form 4 should have reported 20.20 shares of phantom stock credited to the reporting person's account in the Plan on March 25, 2026 at a price of $49.51, as compared to the previously reported 13.29 shares of phantom stock credited to the reporting person's account on March 24, 2026 at a price of $51.88.
- [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 December 31, 2025.
Signature
/s/Patrick J. Kennedy, as attorney-in-fact for Kevin J. Chan|2026-06-02