Form 4: Worthington Enterprises Executive Receives Restricted Stock Grant, Sells Shares for Tax Obligations

Patrick J. Kennedy, VP-General Counsel & Secretary of Worthington Enterprises, Inc., acquired 3,060 restricted common shares and disposed of 377 shares to cover tax withholding obligations.

Summary

• Patrick J. Kennedy, VP-General Counsel & Secretary of Worthington Enterprises, Inc. (WOR), reported transactions involving the company's common shares.
• On June 26, 2025, Kennedy acquired 3,060 common shares as an award of restricted stock under the Worthington Enterprises, Inc. 2024 Long-Term Incentive Plan. These shares were acquired at a price of $0.00 and are set to vest on the third anniversary of the grant date.
• On June 27, 2025, Kennedy disposed of 377 common shares at a price of $63.81 per share. This disposition was to satisfy tax withholding obligations upon the vesting of restricted stock.
• Following these transactions, Kennedy's direct beneficial ownership of common shares stands at 27,518.

Sentiment

Score: 7

Explanation: The grant of restricted stock is a positive sign of executive alignment and long-term incentive, while the sale for tax purposes is a routine, neutral event. No negative operational or financial news is present.

Positives

• Grant of 3,060 restricted common shares to a key executive, Patrick J. Kennedy, aligns his interests with long-term shareholder value.
• The restricted stock award is part of the Worthington Enterprises, Inc. 2024 Long-Term Incentive Plan, indicating a structured approach to executive compensation and retention.

Negatives

• Disposition of 377 common shares, although for tax withholding purposes, reduces the executive's direct shareholding.

Future Outlook

The restricted stock award is set to vest on the third anniversary of the grant date, indicating a future milestone for the executive's compensation.

Industry Context

This Form 4 filing details an individual insider transaction, which is a routine disclosure for publicly traded companies. It does not provide broader industry context or trends. Executive stock grants and tax-related dispositions are common practices in corporate compensation structures across various industries.

Comparison to Industry Standards

• This document reports an individual insider transaction (restricted stock grant and tax-related sale), which is a standard practice for executive compensation and compliance with SEC regulations. It does not contain information that allows for a direct comparison of company performance or specific projects against industry benchmarks or comparable companies.

Corporate Governance

Related Party Transactions

• The transactions involve an executive (Patrick J. Kennedy) and the company (Worthington Enterprises, Inc.), which are considered related parties in the context of executive compensation. The transactions include a restricted stock grant and a sale for tax withholding.

Stakeholder Impact

• Shareholders: The grant of restricted stock aligns executive interests with long-term shareholder value.
• Employees: No direct impact on general employees is indicated.
• Customers/Suppliers/Creditors: No direct impact on these stakeholders is indicated.

Next Steps

• The restricted stock granted on June 26, 2025, will vest on the third anniversary of the grant date.

Key Dates

Recommendation

Keywords

Worthington Enterprises, WOR, Patrick J. Kennedy, SEC Form 4, Insider Trading, Restricted Stock, Long-Term Incentive Plan, Executive Compensation, Share Ownership, Tax Withholding