Form 4: Worthington Enterprises EVP and CFO Joseph B. Hayek Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Joseph B. Hayek, EVP and CFO of Worthington Enterprises, reports changes in beneficial ownership of common shares and phantom stock acquired under the company's deferred compensation plan.
Summary
- On June 28, 2024, Joseph B. Hayek, EVP and CFO of Worthington Enterprises, reported changes in his beneficial ownership of the company's securities.
- Hayek directly owns 212,912 common shares.
- He indirectly owns 2,000 common shares through a Merrill-Lynch IRA and 1,630 common shares through a Vanguard IRA.
- Hayek also acquired 3.89 units of phantom stock under the Deferred Compensation Plan, with each unit tracking a Worthington Enterprises common share.
- The reported amount includes additional common shares acquired through dividend reinvestment in the IRA and additional unfunded theoretical common shares (phantom stock) credited pursuant to the dividend reinvestment feature of the 2005 NQ Plan.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing, reporting routine changes in beneficial ownership. It doesn't convey any particularly positive or negative sentiment.
Future Outlook
Distributions from the Deferred Compensation Plan are made only in WOR common shares and generally commence upon leaving Worthington Enterprises, Inc. and its subsidiaries.
Industry Context
This filing is a routine disclosure related to executive compensation and holdings, which is standard practice for publicly traded companies.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the holdings of company executives.
Key Dates
| Date | Description |
|---|---|
| March 29, 2024 | Date of the plan statement for the dividend reinvestment feature of the IRA. |
| June 28, 2024 | Date of the transaction involving phantom stock acquisition and dividend reinvestment. |
| July 01, 2024 | Date of the report filing. |
| October 1, 2014 | Effective date after which phantom stock fund amounts cannot be transferred to alternative deemed investment options until distribution from the Plan. |
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