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 the disposal of shares to cover tax obligations upon vesting of restricted stock.
Summary
- On September 25, 2024, Joseph B. Hayek, the EVP and CFO of Worthington Enterprises, disposed of 17,843 and 35,685 common shares to satisfy tax withholding obligations upon the vesting of restricted stock.
- The transactions were executed at a price of $42.74 per share.
- Following these transactions, Hayek directly owns 166,375 common shares.
- Hayek also indirectly owns 2,000 common shares through an IRA with Merrill-Lynch and 1,636 shares through an IRA with Vanguard, which includes shares acquired through dividend reinvestment as of June 28, 2024.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports a routine transaction related to tax obligations.
Industry Context
This filing is a routine disclosure related to insider transactions and is a standard practice for corporate officers.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine disposal of shares for tax purposes.
Key Dates
| Date | Description |
|---|---|
| June 28, 2024 | Date of plan statement for IRA (Vanguard) showing additional common shares acquired pursuant to dividend reinvestment. |
| September 25, 2024 | Date of transaction where shares were disposed of to cover tax obligations. |
| September 26, 2024 | Date of signature for the Form 4 filing. |
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