Form 4: Worthington Enterprises Controller Kevin J. Chan Reports Acquisition of Phantom Stock
SEC Form 4 Filing
Kevin J. Chan, Controller of Worthington Enterprises, reports the acquisition of phantom stock under the company's deferred compensation plan.
Summary
- On February 7, 2025, Kevin J. Chan, Controller of Worthington Enterprises, acquired 5.69 units of phantom stock under the Worthington Industries, Inc. Amended and Restated 2005 Deferred Compensation Plan.
- These phantom stock units are equivalent to common shares of Worthington Enterprises.
- Following the transaction, Chan beneficially owns 73.67 derivative securities.
- The price of the derivative security was $41.39.
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing related to executive compensation, indicating standard operational procedures. There is nothing to suggest a positive or negative outlook.
Industry Context
Form 4 filings are standard practice for company insiders reporting transactions in their company's securities, providing transparency to the market.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves phantom stock, which will eventually convert to common shares upon distribution.
Key Dates
| Date | Description |
|---|---|
| 02/07/2025 | Date of transaction: Kevin J. Chan acquired phantom stock. |
| 02/10/2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, Worthington Enterprises, Kevin J. Chan, Phantom Stock, Deferred Compensation Plan, Beneficial Ownership, Controller
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