WORTHINGTON (WOR) Controller Kevin J. Chan Receives Award

What Happened Kevin J. Chan, Controller of Worthington Enterprises, was credited with 4.31 theoretical (phantom) WOR common shares on August 21, 2026. The filing lists a per-share valuation of $56.86, for a total reported value of approximately $245. This was an award/acquisition of derivative shares under company benefit plans, not an open-market purchase of issued stock.

Key Details

• Transaction date and value: August 21, 2026 — 4.31 phantom shares at $56.86 each; total ≈ $245.
• Instrument: Derivative "phantom stock" credited under the Worthington 2005 Deferred Compensation Plan / company 401(k) statement (not actual issued shares).
• Shares owned after transaction: Not separately reported in this filing.
• Footnotes summary:
  • F1: Report based on a 401(k) statement dated Aug 21, 2026.
  • F2–F3: Phantom shares track WOR common shares one-for-one; amounts credited to the phantom stock option generally cannot be moved to other plan investment options after Oct 1, 2014 and are distributed only in WOR common shares (typically upon leaving the company).
  • F4: Amount includes additional unfunded theoretical shares from dividend reinvestment credit on June 29, 2026.
• Filing timeliness: Report filed Aug 24, 2026; within the required SEC Form 4 filing window for an Aug 21 transaction (timely).

Context This transaction represents crediting of unfunded, theoretical ("phantom") shares in a deferred compensation/401(k) vehicle — a common executive benefit mechanism. These phantom shares mirror common stock but are not immediately tradable shares; distributions are generally made in actual WOR shares upon leaving the company. The reported dollar amount (~$245) is small and reflects the notional value of the credited phantom shares.