CHAN KEVIN J 4
4 · WORTHINGTON ENTERPRISES, INC. · Filed Jun 29, 2026
Research Summary
AI-generated summary of this filing
WORTHINGTON (WOR) Controller Kevin Chan Receives Awards
What Happened Kevin J. Chan, Controller of Worthington Enterprises, Inc. (WOR), reported two acquisitions: a grant of 1,030 restricted common shares (awarded at $0.00) on 2026-06-25, and an acquisition of 4.35 theoretical/"phantom" WOR shares recorded on 2026-06-26 at $56.35 each (total value ≈ $245). The 1,030 shares are restricted stock awarded under the company's 2024 Long-Term Incentive Plan and will vest on the third anniversary of the grant.
Key Details
- Transaction dates/prices:
- 2026-06-25: 1,030 restricted shares awarded at $0.00 (award, A).
- 2026-06-26: 4.35 phantom/derivative shares recorded at $56.35 each (total ≈ $245; award/acquisition).
- Shares owned after transaction: Not specified in the filing.
- Notable footnotes:
- F1: Restricted stock granted under the 2024 LTIP; vests three years after grant.
- F2: The 4.35-share amount is based on a 401(k) plan statement dated June 26, 2026.
- F3/F4: The "phantom" stock in the deferred compensation plan tracks WOR shares one-for-one; amounts credited to the phantom stock fund generally cannot be transferred to other plan options after Oct 1, 2014 and distributions are made in WOR shares.
- Timeliness: The Form 4 was filed on 2026-06-29 for transactions dated 2026-06-25 and 2026-06-26; this filing appears timely under Form 4 reporting rules.
Context These transactions are awards/acquisitions rather than open-market purchases or sales. The 1,030 restricted shares are subject to vesting and therefore are not immediately tradable; the 4.35 shares reflect a phantom/deferred compensation credit tied to WOR share value, not a market purchase. Awards and plan-credited phantom shares are common compensation/retention tools and do not, by themselves, indicate the insider is buying or selling stock in the open market.
Insider Transaction Report
- Award
Common Shares
[F1]2026-06-25+1,030→ 6,836 total - Award
Phantom Stock
[F3][F4]2026-06-26$56.35/sh+4.35$245→ 259.81 total→ Common Shares (4.35 underlying)
- 3,061.32(indirect: By 401(k))
Common Shares
[F2]
Footnotes (4)
- [F1]An award of restricted stock was granted pursuant to the Worthington Enterprises, Inc. 2024 Long-Term Incentive Plan. The restricted stock will vest on the third anniversary of the grant date.
- [F2]The information in this report is based on a 401(k) Plan statement dated as of June 26, 2026.
- [F3]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.
- [F4]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.