Worthington (WOR) CEO Joseph B. Hayek Receives Award

What Happened

• Joseph B. Hayek, President & CEO and a director of Worthington Enterprises, received a grant/award of 5.1 theoretical WORTHINGTON (WOR) shares on July 10, 2026. The filing values the award at $54.27 per share, or about $277 total.
• This was a derivative acquisition (phantom stock / unfunded theoretical shares), not an open-market cash purchase of outstanding shares. Such awards are typically compensation rather than a market purchase.

Key Details

• Transaction date: July 10, 2026; Filing date (Form 4): July 13, 2026 (filed within the normal 2-business-day window).
• Amount: 5.1 shares × $54.27 = ~$277 (reported as a derivative/award; transaction code A).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Notable footnotes:
  • F1: Includes additional common shares from dividend reinvestment in an IRA (plan statement dated June 30, 2026).
  • F2–F4: The credited shares are “phantom stock” under the 2005 Deferred Compensation Plan for Directors (track WOR 1:1), are unfunded, include dividend reinvestment crediting, and generally cannot be transferred to other deemed investment options after Oct 1, 2014; distributions are made only in WOR common shares (typically upon leaving the company).

Context

• This transaction is a routine compensation-related award of derivative (phantom) shares rather than an outright market purchase or sale; such awards are common for executives and do not by themselves indicate a bullish or bearish trading signal.
• Because the award is unfunded phantom stock, the recipient does not immediately receive tradable market shares; the plan generally pays out actual shares only upon distribution events described in the plan.