Form 4: Worthington Enterprises Director Michael J. Endres Transfers Shares to Charitable Trust
SEC Form 4
Director Michael J. Endres reports transferring 66,000 Worthington Enterprises shares to a charitable remainder trust.
Summary
- On February 26, 2024, Michael J. Endres, a director of Worthington Enterprises, contributed 66,000 common shares to a charitable remainder trust.
- Endres is a trustee and beneficiary, along with his spouse, of the trust.
- The reporting person continues to report beneficial ownership of all of the WOR common shares held by the trust but disclaims beneficial ownership except to the extent of his and his spouse's pecuniary interest therein.
- Following the transaction, Endres directly owns 76,689 common shares and indirectly owns 66,000 shares through the trust.
Sentiment
Score: 5
Explanation: The document describes a routine transaction (transfer of shares to a charitable trust) and has no inherent positive or negative implications for the company's financial health or future prospects.
Industry Context
Transactions of this nature are common among corporate executives for estate planning and charitable giving purposes. The filing is a routine disclosure required by the SEC.
Key Dates
| Date | Description |
|---|---|
| 02/26/2024 | Date of the share transfer to the charitable remainder trust. |
| 02/28/2024 | Date of signature on the Form 4 filing. |
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