HAYEK JOSEPH B 4
Research Summary
AI-generated summary
Worthington (WOR) CEO Joseph Hayek Withholds Shares for Taxes
What Happened
- Joseph B. Hayek, President & CEO and a director of Worthington Enterprises (WOR), had a total of 5,418 shares withheld to satisfy tax withholding obligations tied to restricted stock vesting. The withholdings are reported as dispositions (shares withheld rather than open-market sales) and totaled approximately $291,279.
Key Details
- Transaction dates and prices:
- 2026-06-29: 785 shares withheld at $53.77 — $42,209
- 2026-06-30: 4,633 shares withheld at $53.76 — $249,070
- Total shares withheld: 5,418; total value ≈ $291,279.
- Shares owned after the transactions: not specified in the provided summary (see full Form 4 for post-transaction holdings).
- Footnotes:
- F1: These share dispositions represent shares withheld upon the vesting of restricted stock to satisfy the reporting person's tax withholding obligation.
- F2: The filing notes the reported amount includes additional common shares from dividend reinvestment in an IRA per the plan statement dated March 31, 2026.
- Timeliness: Filed 2026-07-01 for transactions on 2026-06-29 and 2026-06-30 — appears timely (Form 4 is generally due within two business days).
Context
- This was a tax-withholding disposition tied to RSU vesting (routine administrative action), not an open-market sale or new purchase. Such withholdings are common and do not necessarily indicate the insider is reducing their investment stake.