Worthington Enterprises (WOR) Controller Kevin Chan Receives Award

What Happened
Kevin J. Chan, Controller of Worthington Enterprises, was credited with 4.2 theoretical (derivative/“phantom”) WOR common shares on August 7, 2026. The filing reports an acquisition value of $58.42 per share, totaling roughly $245. This was not an open-market purchase or sale but an award/crediting of phantom stock under company plans (a routine plan transaction rather than an active buy or sell).

Key Details

• Transaction date and price: August 7, 2026 — 4.2 derivative shares credited at $58.42 each (total ≈ $245).
• Type: Award/credit of phantom (theoretical) shares under deferred compensation / 401(k) plan (reported as derivative).
• Shares owned after transaction: Not specified in the filing.
• Filing date/accession: Form 4 filed Aug 10, 2026 (reporting the Aug 7 transaction).
• Notable footnotes:
  • F1: Report is based on a 401(k) statement dated Aug 7, 2026.
  • F2: The credited “phantom stock” tracks WOR common shares one-for-one in the Deferred Compensation Plan.
  • F3: Amounts credited to the phantom fund generally cannot be transferred to other deemed investment options after Oct 1, 2014 and are distributed only in WOR common shares (typically upon leaving the company).
  • F4: The reported amount includes additional unfunded theoretical shares from a dividend reinvestment feature credited on June 29, 2026.

Context
Phantom or theoretical shares are bookkeeping credits that mirror company stock value and are typically paid out in actual shares upon distribution events; they do not represent immediately tradable common stock. This type of transaction is usually a routine compensation/plan credit and should not be interpreted as an active market bet by the insider.