Form 4: Worthington Enterprises Controller Kevin J. Chan Reports Acquisition of Common Shares

Kevin J. Chan, Controller of Worthington Enterprises, reports acquiring common shares and phantom stock through the company's Deferred Profit Sharing Plan and Deferred Compensation Plan.

Summary

• Kevin J. Chan, Controller of Worthington Enterprises, filed a Form 4 detailing changes in beneficial ownership.
• On March 7, 2025, Chan acquired 7.7 common shares at $42.18 through the Worthington Enterprises, Inc. Deferred Profit Sharing Plan (401(k) Plan).
• Chan also acquired 5.59 units of phantom stock under the Worthington Industries, Inc. Amended and Restated 2005 Deferred Compensation Plan.
• Following these transactions, Chan directly owns 5,589 common shares and indirectly owns 2,790.37 common shares through the 401(k) and 84.81 units of phantom stock.
• Distributions from the Deferred Compensation Plan are made only in Worthington Enterprises common shares and generally commence upon leaving the company.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing insider transactions, which carries a neutral sentiment. It reflects routine activity related to employee benefits and compensation.

Positives

• The acquisition of shares through the 401(k) plan indicates participation in the company's employee benefits program.
• The acquisition of phantom stock suggests continued alignment of the reporting person's interests with the company's performance.

Future Outlook

The document does not contain specific forward-looking statements regarding the company's future performance.

Industry Context

This filing is a routine disclosure related to insider transactions and provides limited insight into broader industry trends. It reflects standard practices for executives participating in company-sponsored savings and compensation plans.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies, ensuring transparency in insider trading.
• Deferred compensation plans and 401(k) plans are common benefits offered by many companies, including competitors of Worthington Enterprises.
• The specific details of these plans, such as vesting schedules and investment options, can vary significantly between companies.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider transactions.
• Employees participating in the 401(k) and Deferred Compensation Plan are directly impacted by the value of Worthington Enterprises' shares.

Key Dates