Form 4: Worthington Enterprises Controller Sells Shares to Cover Tax Obligations

Kevin J. Chan, Controller at Worthington Enterprises, sold 169 common shares to cover tax obligations related to vesting restricted stock.

Summary

• Kevin J. Chan, the Controller at Worthington Enterprises, sold 169 common shares on December 23, 2024.
• The sale was executed at a price of $41.04 per share.
• This transaction was to cover tax withholding obligations arising from the vesting of restricted stock.
• Following the transaction, Mr. Chan directly owns 5,589 common shares of Worthington Enterprises.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, with no significant positive or negative implications.

Industry Context

This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies.

Comparison to Industry Standards

• Form 4 filings are standard practice for reporting insider transactions in publicly traded companies.
• The sale of shares to cover tax obligations upon vesting of restricted stock is a common practice among executives.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale for tax purposes.

Key Dates

Keywords

Worthington Enterprises, insider trading, Form 4, stock sale, tax obligations, restricted stock, Kevin J. Chan, controller