Kennedy Patrick J. 4
4 · WORTHINGTON ENTERPRISES, INC. · Filed Jul 8, 2026
Research Summary
AI-generated summary of this filing
Worthington (WOR) VP-General Counsel Patrick J. Kennedy Receives Award
What Happened Patrick J. Kennedy, VP‑General Counsel & Secretary of Worthington Enterprises, received a 1,138-share long‑term performance award on July 7, 2026 (reporting code A; reported acquisition at $0.00). Simultaneously, 508 shares were withheld (reporting code F) at $53.09 per share to satisfy tax withholding obligations, a disposition valued at approximately $26,970. These actions reflect the vesting/payout of a multi‑year performance award rather than an open‑market purchase or a voluntary sale.
Key Details
- Transaction dates: July 7, 2026 (report filed July 8, 2026).
- Award: 1,138 shares granted/issued (reported at $0.00 acquisition price).
- Withholding: 508 shares withheld at $53.09 each to cover taxes; total ≈ $26,970.
- Shares owned after transaction: not specified in the filing.
- Footnotes: F1 — award was a long‑term performance share granted June 30, 2023 under the company’s LTIP and approved for payout by the Compensation Committee on June 22, 2026; F2 — the 508 shares represent withholding to satisfy tax obligations upon vesting.
- Filing timeliness: filing appears timely (transaction 7/7/2026; Form 4 filed 7/8/2026).
Context This was the settlement/vesting of a performance‑based award covering the three‑year period ending May 31, 2026; the payout was approved by the Compensation Committee and is not an open‑market trade signal. The share withholding to cover taxes is a routine cashless withholding and common when restricted or performance shares vest. No market purchase was made and no discretionary sale by the insider (beyond withholding) was reported.
Insider Transaction Report
- Award
Common Shares
[F1]2026-07-07+1,138→ 32,944 total - Tax Payment
Common Shares
[F2]2026-07-07$53.09/sh−508$26,970→ 32,436 total
Footnotes (2)
- [F1]A long-term performance share award was granted on June 30, 2023 pursuant to the Worthington Industries, Inc. Amended and Restated 1997 Long-Term Incentive Plan. Common Shares were to be earned based on the level of achievement of specified performance objectives over the three-year period ended May 31, 2026. On June 22, 2026, the Compensation Committee of the Company's Board of Directors met and approved the payout of the reported common shares based on the performance of the Company for the three-year period ended May 31 ,2026.
- [F2]Represents shares withheld upon the vesting of restricted stock in order to satisfy the reporting person's tax withholding obligation upon such vesting.