Form 4: Worthington Enterprises Controller Reports Stock Transactions
Insider Transaction Report
Kevin J. Chan, Controller at Worthington Enterprises, reported routine transactions involving common shares and phantom stock.
Summary
- Kevin J. Chan, Controller of Worthington Enterprises, Inc. (WOR), reported changes in his beneficial ownership of company securities.
- On September 22, 2025, 239 common shares were disposed of at a price of $61.03 per share. This transaction represents shares withheld to satisfy tax withholding obligations upon the vesting of restricted stock.
- Following this transaction, Mr. Chan directly beneficially owns 6,310 common shares.
- Additionally, Mr. Chan indirectly beneficially owns 2,949.05 common shares through a 401(k) Plan, as of September 19, 2025.
- On September 19, 2025, 4.02 units of phantom stock were acquired at a deemed price of $61.06 per unit.
- Phantom stock units track WOR common shares on a one-for-one basis and are credited to the Worthington Industries, Inc. Amended and Restated 2005 Deferred Compensation Plan.
- The amount of phantom stock reported includes additional theoretical common shares credited pursuant to the dividend reinvestment feature of the 2005 NQ Plan on June 30, 2025.
- Mr. Chan directly beneficially owns 148.18 phantom stock units following this transaction.
Sentiment
Score: 5
Explanation: The filing reports routine insider transactions related to compensation and tax obligations, which are neutral in terms of company performance or outlook.
Future Outlook
The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.
Industry Context
This Form 4 filing details routine insider transactions related to compensation and tax obligations, which are common occurrences across all publicly traded companies and do not reflect broader industry trends or competitive positioning.
Stakeholder Impact
- Shareholders: Minimal impact, as these are routine compensation-related transactions and do not signal a change in company fundamentals or strategy.
- Employees: No direct impact beyond the reporting person's compensation structure.
Key Dates
| Date | Description |
|---|---|
| 10/01/2014 | Effective date for restrictions on transferring phantom stock account balances to alternative deemed investment options under the Plan until distribution. |
| 06/30/2025 | Date of dividend reinvestment for phantom stock under the 2005 NQ Plan. |
| 09/19/2025 | Date of phantom stock acquisition and the date of the 401(k) Plan statement. |
| 09/22/2025 | Date of common shares disposition for tax withholding. |
| 09/23/2025 | Signature date of the reporting person's attorney-in-fact. |
Recommendation
holdThe Form 4 filing details routine insider transactions, specifically shares withheld for tax obligations upon restricted stock vesting and the acquisition of phantom stock through a deferred compensation plan. These are standard compensation-related activities and do not provide new material information to warrant a change in investment recommendation. The company's fundamental outlook remains unchanged based on this filing.
Keywords
Worthington Enterprises, WOR, Form 4, Insider Transaction, Kevin J. Chan, Controller, Common Shares, Phantom Stock, Tax Withholding, Deferred Compensation Plan
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