Form 4: Worthington Enterprises EVP and CFO Joseph B. Hayek Reports Changes in Beneficial Ownership
SEC Form 4
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 May 31, 2024, Joseph B. Hayek, the EVP and CFO of Worthington Enterprises, filed a Form 4 to report changes in his beneficial ownership of the company's securities.
- The reported holdings include direct ownership of 203,883 common shares.
- Hayek also holds 2,000 common shares indirectly through a Merrill-Lynch IRA and 1,630 shares through a Vanguard IRA.
- Additionally, he has 4,119.71 units of phantom stock acquired under the Deferred Compensation Plan, which track Worthington Enterprises common shares on a one-for-one basis.
- The phantom stock holdings include additional units credited pursuant to the dividend reinvestment feature of the 2005 NQ Plan on April 1, 2024.
- The reported transaction involves the acquisition of 3.23 units of phantom stock at a price of $57.03 on May 31, 2024.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing reporting changes in beneficial ownership, indicating a neutral sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and ownership, common in 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. |
| April 1, 2024 | Date of additional unfunded theoretical common shares (i.e., phantom stock) credited pursuant to the theoretical Worthington Enterprises, Inc. common share deemed investment option pursuant to the dividend reinvestment feature of the 2005 NQ Plan. |
| May 31, 2024 | Date of the reported transaction involving the acquisition of phantom stock. |
| June 03, 2024 | Date of the signature on the Form 4 filing. |
| October 1, 2014 | Effective date after which amounts credited to the phantom stock fund may not be transferred to an alternative deemed investment option under the Plan until distribution from the Plan. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.