Form 4: Worthington Enterprises Controller Reports Stock Holdings
Insider Transaction Report
Worthington Enterprises Controller Kevin J. Chan reported his beneficial ownership of common shares and phantom stock, including recent acquisitions.
Summary
- Kevin J. Chan, Controller of Worthington Enterprises, Inc. (WOR), reported his beneficial ownership of company securities.
- Directly owns 5,806 Common Shares.
- Indirectly owns 2,995.17 Common Shares through a 401(k) Plan, based on a statement dated February 20, 2026.
- Beneficially owns 197.86 units of Phantom Stock.
- Acquired 4.29 units of Phantom Stock on February 20, 2026, at a price of $57.16 per unit.
- Phantom Stock units track WOR common shares on a one-for-one basis under the Worthington Industries, Inc. Amended and Restated 2005 Deferred Compensation Plan.
- The reported Phantom Stock amount includes additional theoretical common shares credited via the dividend reinvestment feature of the 2005 NQ Plan on December 31, 2025.
Sentiment
Score: 6
Explanation: StockSavvy.ai views this as a routine insider transaction filing, with the acquisition of phantom stock indicating continued alignment of the controller's interests with shareholders, contributing to a slightly positive sentiment.
Positives
- The acquisition of 4.29 phantom stock units by the Controller indicates continued alignment of management's interests with shareholder value.
Future Outlook
This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.
Industry Context
StockSavvy.ai notes that insider transaction filings like this Form 4 provide transparency into the holdings and recent activities of key company personnel, offering insights into management's direct financial stake in the company's performance. While not indicative of broader industry trends, such filings are a routine part of corporate governance and investor relations.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Policy Update | Effective October 1, 2014, amounts credited to the phantom stock fund in the 2005 Deferred Compensation Plan cannot be transferred to alternative deemed investment options until distribution from the Plan. | 10/01/2014 | This change restricts the flexibility of participants to reallocate their phantom stock holdings within the deferred compensation plan, potentially encouraging longer-term holding of WOR common share equivalents. |
Related Party Transactions
- The acquisition of phantom stock and beneficial ownership of common shares by Kevin J. Chan, a Controller of Worthington Enterprises, Inc., constitutes an insider transaction under the company's deferred compensation and 401(k) plans.
Stakeholder Impact
- Shareholders gain transparency into the direct and indirect holdings of a key company executive, which can inform their assessment of management's alignment with shareholder interests.
Key Dates
| Date | Description |
|---|---|
| 10/01/2014 | Effective date for restrictions on transferring phantom stock balances to alternative deemed investment options under the Plan until distribution. |
| 12/31/2025 | Date of dividend reinvestment for additional unfunded theoretical common shares (phantom stock) credited to the reporting person's account. |
| 02/20/2026 | Date of earliest transaction (acquisition of phantom stock) and the date of the 401(k) Plan statement. |
| 02/23/2026 | Signature date of the reporting person's attorney-in-fact. |
Recommendation
holdThis Form 4 details a routine insider transaction involving the acquisition of phantom stock and existing beneficial ownership by a company controller. It does not provide sufficient new information or significant changes in holdings to warrant a change in investment recommendation for a seasoned investor or institution.
Keywords
Worthington Enterprises, WOR, Kevin J. Chan, Form 4, Insider Transaction, Beneficial Ownership, Common Shares, Phantom Stock, Deferred Compensation, 401(k) Plan
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