Form 4: Kevin Chan Acquires Worthington Enterprises Stock

Kevin J. Chan, an officer at Worthington Enterprises, Inc., reported the acquisition of 1,030 common shares and a grant of phantom stock.

Summary

• Kevin J. Chan, an officer and Controller at Worthington Enterprises, Inc. (WOR), acquired 1,030 common shares on June 25, 2026.
• These shares were acquired at a price of $0.00, indicating they were likely part of a grant or award.
• Following this transaction, Mr. Chan beneficially owns 6,836 common shares directly.
• Additionally, Mr. Chan has a beneficial interest in 3,061.32 common shares held within a 401(k) Plan.
• On June 26, 2026, Mr. Chan was granted phantom stock, which tracks common shares on a one-for-one basis.
• The phantom stock award is valued at $56.35 per share, with 4.35 units credited, totaling 259.81 shares.
• This phantom stock is subject to vesting on the third anniversary of the grant date and distributions are generally made upon separation from the company.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it represents routine insider transactions and compensation awards rather than significant strategic shifts or performance indicators.

Positives

• Acquisition of 1,030 common shares by a key executive, indicating continued investment or compensation.
• Grant of phantom stock, aligning executive interests with shareholder value over the long term.
• The 401(k) plan holdings show ongoing savings and investment by the executive in the company's stock.

Risks

• The phantom stock plan has restrictions on transferability until distribution, which typically occurs upon leaving the company.
• Vesting of restricted stock on the third anniversary means the executive's full benefit is deferred.

Future Outlook

The filing does not contain forward-looking statements or guidance. It reports on past transactions and grants.

Industry Context

StockSavvy.ai notes that Form 4 filings are standard disclosures for insider transactions. The grant of restricted stock and phantom stock are common executive compensation tools used by publicly traded companies to incentivize long-term performance and retention.

Stakeholder Impact

• Shareholders: The transactions reflect executive compensation and potential alignment of interests, but do not directly impact share price in the short term.
• Employees: The 401(k) plan holding indicates employee participation in company stock ownership.
• Management: The grants and acquisitions are part of executive compensation and incentive structures.

Next Steps

• Restricted stock award will vest on the third anniversary of the grant date.
• Phantom stock distributions are generally made upon leaving Worthington Enterprises, Inc. and its subsidiaries.

Key Dates

Keywords

Worthington Enterprises, WOR, Form 4, Insider Trading, Stock Acquisition, Executive Compensation, Phantom Stock, Restricted Stock, 401(k) Plan, SEC Filing