CHAN KEVIN J 4

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.