Form 4: Worthington Enterprises Controller Reports Stock Holdings
Insider Ownership Report
Worthington Enterprises' Controller, Kevin J. Chan, filed a Form 4 detailing his beneficial ownership of common shares and phantom stock.
Summary
- Kevin J. Chan, Controller of Worthington Enterprises, Inc. (WOR), reported his beneficial ownership of company securities.
- Directly owns 5,806 common shares of Worthington Enterprises.
- Indirectly owns 2,977.46 common shares through a 401(k) Plan, based on a statement dated January 9, 2026.
- Acquired 4.56 theoretical common shares (phantom stock) on January 9, 2026, as a result of a dividend reinvestment on December 31, 2025.
- The total phantom stock beneficially owned is 184.8 shares, which track WOR common shares on a one-for-one basis.
- The phantom stock was valued at $53.81 per share at the time of acquisition.
Sentiment
Score: 6
Explanation: Neutral to slightly positive. This is a routine disclosure, but the officer's continued accumulation of phantom stock through dividend reinvestment suggests alignment with shareholder interests.
Positives
- The Controller's beneficial ownership of common shares and phantom stock aligns his interests with those of shareholders.
- The acquisition of additional phantom stock through dividend reinvestment indicates continued participation in the company's equity by a key officer.
Future Outlook
NA
Industry Context
NA
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Plan Policy Change | Effective October 1, 2014, balances related to phantom stock investment options in the 2005 Deferred Compensation Plan can no longer be transferred to other deemed investment options until distribution from the Plan. | 2014-10-01 | Restricts flexibility for participants to reallocate phantom stock holdings within the plan, potentially encouraging longer-term holding of company equity. |
Stakeholder Impact
- Shareholders: The officer's beneficial ownership of company equity aligns his interests with those of shareholders.
- Employees: Participants in the 2005 Deferred Compensation Plan are impacted by the rules governing phantom stock transfers and distributions.
Key Dates
| Date | Description |
|---|---|
| 2005 | Establishment of the Worthington Industries, Inc. Amended and Restated 2005 Deferred Compensation Plan. |
| 2014-10-01 | Effective date for changes to the Deferred Compensation Plan, restricting transfers of phantom stock balances to other investment options until distribution. |
| 2025-12-31 | Date of dividend reinvestment feature crediting additional unfunded theoretical common shares (phantom stock). |
| 2026-01-09 | Date of earliest transaction reported, related to the 401(k) Plan statement and phantom stock acquisition. |
| 2026-01-12 | Date the Form 4 was signed by the attorney-in-fact. |
Recommendation
holdThis Form 4 filing is a routine disclosure of an officer's beneficial ownership and does not contain information that would warrant a change in investment recommendation. The officer's continued holding and accumulation of company equity through dividend reinvestment is a neutral to slightly positive signal of management alignment, but not a catalyst for a 'buy' or 'sell' recommendation.
Keywords
Worthington Enterprises, WOR, Form 4, Insider Trading, Beneficial Ownership, Common Shares, Phantom Stock, Kevin J. Chan, Controller, SEC Filing
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