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

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 September 6, 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 219,903 common shares.
• Hayek also holds 2,000 common shares indirectly through a Merrill-Lynch IRA and 1,636 shares through a Vanguard IRA.
• Additionally, Hayek acquired phantom stock under the Deferred Compensation Plan, with 4.83 shares acquired on September 6, 2024, at a price of $42.97 per share.
• The total number of phantom stock shares held is 4,161.62, which includes additional shares credited pursuant to the dividend reinvestment feature of the 2005 NQ Plan on August 31, 2024.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing, so the sentiment is neutral. It simply reports changes in beneficial ownership.

Positives

• The reporting of beneficial ownership changes is a standard practice and provides transparency to investors.
• The acquisition of phantom stock through the Deferred Compensation Plan aligns Hayek's interests with the long-term performance of the company.

Industry Context

Form 4 filings are a routine part of regulatory compliance for corporate insiders and provide transparency to the market regarding their holdings and transactions in the company's securities.

Stakeholder Impact

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

Key Dates