WOR.NYSEWorthington Enterprises, INC

Form 4: Worthington Enterprises EVP and CFO Joseph B. Hayek Reports Changes in Beneficial Ownership

Sentiment:

SEC Form 4 Filing

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Joseph B. Hayek, EVP and CFO of Worthington Enterprises, reports changes in beneficial ownership of common shares and phantom stock as of June 14, 2024.

Summary

  • Joseph B. Hayek, the EVP and CFO of Worthington Enterprises, filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
  • The report indicates holdings of 203,883 common shares directly and 2,000 shares indirectly through a Merrill-Lynch IRA.
  • Additionally, 1,630 common shares are held indirectly through a Vanguard IRA.
  • Hayek also holds 4,123.31 units of phantom stock under the Deferred Compensation Plan, reflecting an acquisition of 3.6 units on June 14, 2024, at a price of $51.25 per unit.
  • The phantom stock units track Worthington Enterprises common shares on a one-for-one basis and are distributable upon leaving the company.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral.

Industry Context

Form 4 filings are standard practice for company insiders to report changes in their ownership of company securities, ensuring transparency and compliance with SEC regulations.

Stakeholder Impact

  • The filing provides transparency to shareholders regarding the holdings of a key executive.

Key Dates

DateDescription
March 29, 2024Date of the plan statement for the dividend reinvestment feature of the IRA.
April 1, 2024Date of the dividend reinvestment feature of the 2005 NQ Plan.
June 14, 2024Date of the transaction involving phantom stock acquisition.
June 17, 2024Date of the signature on the Form 4 filing.

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