Form 4: Worthington Controller Reports Stock Ownership Changes
Insider Transaction Report
Worthington Enterprises' Controller, Kevin J. Chan, reported changes in his beneficial ownership of common shares and phantom stock, including acquisitions and holdings through a 401(k) plan.
Summary
- Kevin J. Chan, Controller of Worthington Enterprises, Inc. (WOR), filed a Form 4 statement of changes in beneficial ownership.
- Directly owns 6,310 Common Shares.
- Indirectly owns 2,960.7 Common Shares through a 401(k) Plan, based on a statement dated October 31, 2025.
- Acquired 4.37 units of phantom stock on October 31, 2025, at a price of $56.09 per unit.
- The phantom stock tracks WOR common shares on a one-for-one basis and is part of the Worthington Industries, Inc. Amended and Restated 2005 Deferred Compensation Plan.
- The total indirect beneficial ownership of phantom stock following the reported transaction is 161.8 units.
- The reported phantom stock amount includes additional theoretical shares credited via the dividend reinvestment feature of the 2005 NQ Plan on September 29, 2025.
- Effective October 1, 2014, amounts credited to the phantom stock fund cannot be transferred to alternative deemed investment options until distribution from the Plan, which generally occurs upon leaving Worthington Enterprises, Inc. and its subsidiaries.
Sentiment
Score: 5
Explanation: The filing is a routine Form 4 reporting changes in beneficial ownership for an insider, with no significant positive or negative implications for the company's operational or financial performance.
Positives
- Controller Kevin J. Chan acquired additional phantom stock, indicating continued alignment of management's interests with shareholder value.
Key Dates
| Date | Description |
|---|---|
| 10/01/2014 | Effective date for restrictions on transferring phantom stock balances within the Deferred Compensation Plan. |
| 09/29/2025 | Date of dividend reinvestment for phantom stock under the 2005 NQ Plan. |
| 10/31/2025 | Date of earliest transaction (acquisition of phantom stock) and date of 401(k) Plan statement. |
| 11/03/2025 | Signature date of the reporting person's attorney-in-fact for the filing. |
Recommendation
holdThis Form 4 details routine changes in beneficial ownership for a company officer, including an acquisition of phantom stock and holdings through a 401(k) plan. Such a filing does not typically provide new information that would alter the fundamental investment thesis for Worthington Enterprises, Inc., thus a 'hold' recommendation is maintained based solely on this filing.
Keywords
Worthington Enterprises, WOR, Kevin J. Chan, Controller, Form 4, Insider Transaction, Beneficial Ownership, Phantom Stock, 401(k) Plan, Deferred Compensation
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