Form 4: Worthington Enterprises Controller Kevin J. Chan Reports Common Share Disposition and Phantom Stock Acquisition
Insider Transaction Report
Worthington Enterprises, Inc. Controller Kevin J. Chan reported the disposition of 6,549 common shares and the acquisition of 3.71 phantom stock units through dividend reinvestment.
Summary
- Kevin J. Chan, Controller of Worthington Enterprises, Inc. (WOR), reported changes in his beneficial ownership.
- Chan directly disposed of 6,549 common shares.
- Chan acquired 3.71 phantom stock units, which track WOR common shares on a one-for-one basis, through the dividend reinvestment feature of the 2005 Non-Qualified Deferred Compensation Plan.
- Following these transactions, Chan beneficially owns 2,940.68 common shares indirectly through a 401(k) Plan and 129.34 phantom stock units.
Sentiment
Score: 4
Explanation: The disposition of 6,549 common shares by a key officer, Kevin J. Chan, is a slight negative signal, although the acquisition of phantom stock through dividend reinvestment indicates continued participation in equity programs.
Positives
- Acquisition of 3.71 phantom stock units through dividend reinvestment, indicating continued participation in the company's equity programs.
Negatives
- Disposition of 6,549 common shares by a company officer.
Future Outlook
NA
Industry Context
NA
Stakeholder Impact
- Shareholders: The disposition of common shares by an officer could be perceived as a minor negative signal regarding management's confidence, though often such sales are for personal financial planning.
Key Dates
| Date | Description |
|---|---|
| 2005 | Year of the Worthington Industries, Inc. Amended and Restated 2005 Deferred Compensation Plan and 2005 NQ Plan. |
| 2014-10-01 | Effective date for changes in transferability rules for phantom stock investment options under the Plan, restricting transfers until distribution. |
| 2025-06-27 | Date when additional unfunded theoretical common shares (phantom stock) were credited pursuant to the dividend reinvestment feature of the 2005 NQ Plan. |
| 2025-07-11 | Date of the earliest reported transaction, including the disposition of common shares and acquisition of phantom stock, and the date of the 401(k) Plan statement. |
| 2025-07-14 | Date the Form 4 was signed by Patrick J. Kennedy, as attorney-in-fact for Kevin J. Chan. |
Keywords
Worthington Enterprises, WOR, Kevin J. Chan, SEC Form 4, Insider Transaction, Stock Disposition, Phantom Stock, Officer Transaction, Controller, Dividend Reinvestment, Deferred Compensation Plan
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.