Worthington Enterprises CEO Joseph B. Hayek Receives Award

What Happened Joseph B. Hayek, President & CEO and a Director of Worthington Enterprises, received an award of 4.94 theoretical/derivative WOR shares on July 24, 2026. The report values the acquisition at $56.00 per share for a total of $277. This was an award/grant (derivative), not an open-market purchase or sale.

Key Details

• Transaction type: Grant/Award (derivative acquisition, code "A" on Form 4).
• Date & price: 2026-07-24; 4.94 shares @ $56.00 each; total reported value $277.
• Shares owned after transaction: Not specified in the Form 4.
• Filing: Form 4 filed 2026-07-27 (timely filed).
• Notable plan/footnotes:
  • The reported amount includes additional common shares acquired via dividend reinvestment in an IRA (plan statement dated June 30, 2026). (F1)
  • These are "phantom"/theoretical WOR shares credited under the Worthington Industries Amended & Restated 2005 Deferred Compensation Plan for Directors; they track WOR shares one-for-one but are unfunded. (F2, F4)
  • Under the Plan (effective Oct 1, 2014), phantom stock balances cannot be transferred to other deemed investment options until distribution; distributions are made only in WOR common shares and generally occur upon leaving the company. (F3)

Context This was a derivative award (phantom stock/deferred compensation credit) rather than a cash purchase or sale. Phantom shares are bookkeeping credits that track company stock value and are typically paid out in actual WOR shares upon distribution (e.g., when the participant leaves), so they are not immediately tradable. The dollar amount is small (~$277), consistent with dividend reinvestment/compensation credits rather than a meaningful insider market bet.