Form 4: Worthington Enterprises Controller Kevin J. Chan Reports Changes in Beneficial Ownership

Kevin J. Chan, Controller of Worthington Enterprises, reports changes in beneficial ownership of common shares and phantom stock under the company's deferred compensation plan.

Summary

• Kevin J. Chan, Controller at Worthington Enterprises, filed a Form 4 detailing changes in his beneficial ownership.
• The report includes the acquisition of 4,558 common shares.
• Chan also acquired 1.76 units of phantom stock under the Worthington Industries, Inc. Amended and Restated 2005 Deferred Compensation Plan.
• These phantom stock units track Worthington Enterprises common shares on a one-for-one basis and are subject to certain transfer restrictions within the plan.
• Distributions from the plan are made only in WOR common shares and generally commence upon leaving Worthington Enterprises, Inc. and its subsidiaries.
• The reported amount includes additional unfunded theoretical common shares (i.e., phantom stock) credited pursuant to the theoretical Worthington Enterprises, Inc. common shares deemed investment option pursuant to the dividend reinvestment feature of the 2005 NQ Plan on December 31, 2023.

Sentiment

Score: 5

Explanation: This is a neutral filing, simply reporting transactions. It doesn't inherently indicate positive or negative sentiment.

Industry Context

This filing is a routine disclosure related to changes in beneficial ownership by a company insider, as required by the SEC. It provides transparency to investors regarding the holdings and transactions of company executives.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider transactions.

Key Dates