CHAN KEVIN J 4
4 · WORTHINGTON ENTERPRISES, INC. · Filed Jun 2, 2026
Research Summary
AI-generated summary of this filing
Worthington (WOR) Controller Kevin Chan Receives 4.32-Share Award
What Happened
Kevin J. Chan, Controller of Worthington Enterprises, Inc. (WOR), was credited with 4.32 shares as an award/other acquisition (derivative) on May 29, 2026. The reported per-share value was $56.77, for a total notional value of approximately $245. This was a credit of "phantom stock" under a deferred compensation (401(k)) plan, not an open-market purchase.
Key Details
- Transaction date and value: May 29, 2026 — 4.32 shares at $56.77 each; total ~$245.
- Transaction type: A (award/grant/other acquisition) recorded as a derivative (phantom stock).
- Source: Credited per a 401(k) statement dated May 29, 2026 (footnote F1).
- Phantom-stock mechanics: The credited units track WOR common shares one-for-one under the company’s Deferred Compensation Plan (footnote F2).
- Transfer/distribution rules: Amounts credited to the phantom stock fund cannot be moved to other deemed investment options after Oct 1, 2014; distributions are paid in WOR common shares and generally occur upon leaving the company (footnote F3).
- Shares owned after transaction: The filing does not disclose total holdings after this credit.
- Filing date: Form 4 was filed on June 2, 2026 (transaction reported for May 29, 2026).
Context
This is a compensation-related credit of phantom shares into a deferred-compensation/401(k) plan — common for employees and not a market purchase or sale. Phantom shares are a derivative bookkeeping entry that tracks the stock value; they convert to actual WOR shares only upon distribution under the plan rules and do not immediately signal insider buying or selling.
Insider Transaction Report
- Award
Phantom Stock
[F2][F3]2026-05-29$56.77/sh+4.32$245→ 251.36 total→ Common Shares (4.32 underlying)
- 5,806
Common Shares
- 3,049.82(indirect: By 401(k))
Common Shares
[F1]
Footnotes (3)
- [F1]The information in this report is based on a 401(k) Plan statement dated as of May 29, 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.