Form 4: Insider Transactions at Worthington Enterprises
Statement of Changes in Beneficial Ownership
Kevin J. Chan, an officer at Worthington Enterprises, Inc., reported transactions involving common shares and phantom stock.
Summary
- Kevin J. Chan, an officer and Controller at Worthington Enterprises, Inc., engaged in several transactions on July 7, 2026.
- He acquired 362 common shares as a performance share award, valued at $0.00.
- Additionally, 162 common shares were disposed of for $53.09 each, totaling $8,595.38, to cover tax withholding obligations upon vesting of restricted stock.
- His beneficial ownership of common shares following these transactions is 7,036.
- Chan also acquired 45.93 phantom stock units under the Deferred Compensation Plan, which track common shares on a one-for-one basis.
- These phantom stock units have a theoretical value of $53.09 each, and his total beneficial ownership in phantom stock is 306.65 units.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this filing as neutral, as it primarily reports on routine insider transactions related to compensation and tax obligations, rather than significant strategic shifts or financial performance indicators.
Positives
- Acquisition of 362 common shares through a long-term performance share award, indicating achievement of performance objectives.
- Vesting of restricted stock, leading to the acquisition of shares by the reporting person.
Negatives
- 162 common shares were disposed of to satisfy tax withholding obligations, reducing the reporting person's direct holdings.
Future Outlook
The filing does not contain explicit forward-looking statements or guidance regarding future company performance. It primarily reports on past transactions and ownership.
Industry Context
StockSavvy.ai notes that Form 4 filings are standard disclosures for insider transactions, providing transparency into the holdings and activities of company officers and directors. This filing indicates an officer's participation in incentive plans and routine tax management.
Stakeholder Impact
- Shareholders: Increased transparency into insider holdings and compensation-related transactions.
Key Dates
| Date | Description |
|---|---|
| 06/30/2023 | Date of grant for a long-term performance share award. |
| 05/31/2026 | End of the three-year performance period for the long-term incentive plan. |
| 06/22/2026 | Date the Compensation Committee approved the payout of common shares based on performance. |
| 07/07/2026 | Date of transactions reported in the filing (acquisition of performance shares, disposition of shares for tax withholding, acquisition of phantom stock). |
| 07/08/2026 | Date the filing was signed by the reporting person's attorney-in-fact. |
Keywords
Form 4, Insider Trading, Worthington Enterprises, Kevin J. Chan, Common Shares, Phantom Stock, Deferred Compensation Plan, Performance Share Award, Tax Withholding
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