CHAN KEVIN J 4
4 · WORTHINGTON ENTERPRISES, INC. · Filed Jun 15, 2026
Research Summary
AI-generated summary of this filing
Worthington (WOR) Controller Kevin J. Chan Receives 4.1 Phantom Shares
What Happened Kevin J. Chan, Controller of Worthington Enterprises, Inc. (WOR), was credited with 4.1 theoretical (phantom) WOR shares on June 12, 2026. The reported per-share value was $59.68, for a total notional value of $245. This was an award/allocation into a deferred compensation/401(k) plan (derivative), not an open-market purchase or sale of actual common stock.
Key Details
- Transaction type: Grant/Award (code A); derivative "phantom stock" credited to a deferred compensation/401(k) plan.
- Transaction date: June 12, 2026; SEC filing date: June 15, 2026 (timely).
- Amount: 4.1 theoretical shares at $59.68 each; total value reported $245.
- Shares owned after transaction: Not specified in the filing.
- Footnotes:
- Based on a 401(k) plan statement dated June 12, 2026.
- Phantom shares track WOR common shares one-for-one.
- Under the Plan, phantom stock credited after Oct 1, 2014 cannot be moved to other deemed investment options and is distributed only in WOR common shares (typically when the participant leaves the company).
Context This is a routine deferred-compensation allocation of phantom shares, not an exercise or open-market trade. Phantom shares are bookkeeping units that track the company’s stock value and generally convert to actual WOR shares only upon distribution under the Plan; they do not represent immediate ownership or a sale. The small dollar amount ($245) suggests a routine plan credit rather than a material insider purchase or sale.
Insider Transaction Report
- Award
Phantom Stock
[F2][F3]2026-06-12$59.68/sh+4.1$245→ 255.46 total→ Common Shares (4.1 underlying)
- 5,806
Common Shares
- 3,055.43(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 June 12, 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.