Form 4: Worthington Enterprises Controller Kevin J. Chan Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Kevin J. Chan, Controller of Worthington Enterprises, reports acquisition of common shares and phantom stock through the company's 401(k) and deferred compensation plans.
Summary
- Kevin J. Chan, Controller of Worthington Enterprises, filed a Form 4 detailing changes in beneficial ownership.
- The report indicates the acquisition of 7.73 common shares through the Worthington Enterprises, Inc. Deferred Profit Sharing Plan (401(k) Plan) between March 10, 2025, and March 21, 2025.
- These shares were acquired through payroll deduction and employer matching contributions.
- Chan also acquired phantom stock under the Worthington Industries, Inc. Amended and Restated 2005 Deferred Compensation Plan.
- As of March 21, 2025, Chan directly owns 5,589 common shares and indirectly owns 2,798.1 shares through the 401(k) plan.
- He also owns 90.73 shares of phantom stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing is a standard disclosure of insider transactions related to compensation plans.
Positives
- The reporting person is increasing their holdings in the company, which could be interpreted as a positive sign of confidence in the company's future.
Industry Context
Form 4 filings are a routine part of regulatory compliance for company insiders and provide transparency into their trading activities.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| October 1, 2014 | Effective this date, amounts credited to the phantom stock fund may not be transferred to alternative deemed investment options under the Plan until distribution from the Plan. |
| March 10, 2025 March 21, 2025 | Reporting person acquired 7.73 WOR common shares under the Worthington Enterprises, Inc. Deferred Profit Sharing Plan. |
| March 21, 2025 | Date of 401(k) Plan statement used for this report. |
| March 24, 2025 | Date of signature for the Form 4 filing. |
Keywords
Form 4, beneficial ownership, Worthington Enterprises, Kevin J. Chan, common shares, phantom stock, 401(k) Plan, deferred compensation
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.