Worthington (WOR) Controller Kevin Chan Receives 4.4-Share Award

What Happened

• Kevin J. Chan, Controller of Worthington Enterprises, received a grant/award of 4.4 theoretical common shares (phantom stock) on September 18, 2026. The filing reports an acquisition price reference of $57.38 per share, valued at approximately $252. This was recorded as a derivative award (transaction code A), not an open-market purchase of actual shares.

Key Details

• Transaction date and price: 2026-09-18; 4.4 shares at $57.38 each (total ≈ $252).
• Transaction type: Award/acquisition of derivative phantom stock under a 401(k)/deferred compensation plan.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes of note:
  • The entry is based on a 401(k) statement dated Sept 18, 2026 (F1).
  • These are “phantom stock” credited under the company’s Deferred Compensation Plan and track WOR common shares one-for-one (F2).
  • Phantom-stock balances generally cannot be moved to other plan investment options after Oct 1, 2014 and are distributed only in WOR common shares (typically when a participant leaves the company) (F3).
  • The reported amount includes additional unfunded phantom shares from dividend reinvestment on June 29, 2026 (F4).
• Filing timeliness: Reported on Sep 21, 2026 for a Sep 18 transaction; no late-filing indication in the record provided.

Context

• This was a derivative/phantom stock award credited to a deferred compensation/401(k) account, which does not represent immediate, funded ownership of common stock. Distributions are generally made in actual WOR shares upon plan distribution events (e.g., separation from service). The small dollar value (~$252) indicates a modest vesting/credit event rather than a material insider purchase.