Form 4: Worthington Enterprises CEO Joseph Hayek Reports Changes in Beneficial Ownership

Joseph Hayek, President & CEO of Worthington Enterprises, reports changes in beneficial ownership of common shares and phantom stock acquired under the company's deferred compensation plan.

Summary

• On March 7, 2025, Joseph Hayek, the President & CEO of Worthington Enterprises, reported changes in his beneficial ownership of the company's securities.
• The reported changes include 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.
• Additionally, Hayek holds 4,271.59 units of phantom stock acquired under the Deferred Compensation Plan, which track Worthington Enterprises common shares on a one-for-one basis.
• The phantom stock cannot be transferred to alternative deemed investment options under the plan until distribution, which generally commences upon leaving Worthington Enterprises and its subsidiaries.
• The reported amount includes additional common shares and phantom stock acquired pursuant to dividend reinvestment features of the IRAs and the deferred compensation plan.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing, so the sentiment is neutral. It simply reports changes in beneficial ownership.

Industry Context

Form 4 filings are a routine part of regulatory compliance for corporate insiders and provide transparency into their transactions in the company's securities. This filing is specific to the insider's holdings and doesn't necessarily reflect broader industry trends.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the holdings of a key executive.
• It assures stakeholders that the CEO's interests are aligned with theirs through stock ownership.

Key Dates