Form 4: Worthington Enterprises CEO Joseph Hayek Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Worthington Enterprises' CEO, Joseph Hayek, filed a Form 4 detailing changes in his beneficial ownership of company stock, including acquisitions through dividend reinvestment and phantom stock under a deferred compensation plan.
Summary
- On February 21, 2025, Joseph B. Hayek, the President & CEO of Worthington Enterprises, Inc., reported changes in his beneficial ownership of the company's stock.
- The report includes common shares held directly and indirectly through IRAs, as well as phantom stock acquired under the company's deferred compensation plan.
- Hayek directly owns 187,507 common shares.
- He also indirectly owns 2,000 common shares through a Merrill-Lynch IRA and 1,649 common shares through a Vanguard IRA, with the latter including shares acquired through dividend reinvestment as of December 31, 2024.
- Additionally, Hayek acquired 5.92 units of phantom stock under the deferred compensation plan at a price of $42.42, bringing his total phantom stock holdings to 4,265.64 units as of December 27, 2024, including reinvested dividends.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral.
Positives
- The CEO's continued participation in the dividend reinvestment program demonstrates a long-term commitment to the company.
- The deferred compensation plan aligns the executive's interests with those of the shareholders.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. This filing indicates changes in the CEO's holdings, which can be of interest to investors.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the CEO's stake in the company.
- Employees participating in the deferred compensation plan are indirectly impacted by the value of the phantom stock.
Key Dates
| Date | Description |
|---|---|
| December 27, 2024 | Date of theoretical common share dividend reinvestment under the 2005 NQ Plan. |
| December 31, 2024 | Date of plan statement for IRA dividend reinvestment. |
| February 21, 2025 | Date of the reported transaction. |
| February 24, 2025 | Date of signature on the Form 4 filing. |
Keywords
Worthington Enterprises, Joseph Hayek, beneficial ownership, Form 4, common shares, phantom stock, deferred compensation, dividend reinvestment, IRA
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