Form 4: Worthington Enterprises Executive Reports Share Transactions
Statement of Changes in Beneficial Ownership
Patrick J. Kennedy, VP-General Counsel & Secretary of Worthington Enterprises, Inc., reported transactions involving common shares, including the grant of performance awards and tax withholdings.
Summary
- Patrick J. Kennedy, VP-General Counsel & Secretary of Worthington Enterprises, Inc., filed a Form 4 detailing transactions related to company common shares.
- On July 7, 2026, 1,138 common shares were acquired under a long-term performance share award granted on June 30, 2023. The payout was approved on June 22, 2026, based on company performance over the three-year period ending May 31, 2026.
- Additionally, 508 common shares were disposed of on July 7, 2026, at a price of $53.09 per share. These shares were withheld to cover tax obligations upon the vesting of restricted stock.
- Following these transactions, Mr. Kennedy beneficially owns 32,436 common shares directly.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral filing, as it primarily reports routine executive stock transactions and compensation-related events without significant positive or negative financial implications.
Positives
- Grant of performance share award indicates alignment of executive compensation with company performance.
- Vesting of restricted stock and subsequent share withholding for tax purposes suggests successful achievement of prior equity grants.
Negatives
- Withholding of shares for tax purposes represents a reduction in the executive's direct shareholding.
Future Outlook
The filing does not contain forward-looking statements or guidance.
Industry Context
StockSavvy.ai notes that Form 4 filings are standard disclosures for insider transactions, providing transparency into executive stock dealings. The performance share award and tax withholding are typical components of executive compensation packages in the manufacturing sector.
Stakeholder Impact
- Shareholders gain insight into executive compensation structures and insider stock activity.
- Employees may observe the alignment of executive incentives with company performance.
- Creditors are not directly impacted by this type of filing.
Key Dates
| Date | Description |
|---|---|
| 06/30/2023 | Date of grant for long-term performance share award. |
| 05/31/2026 | End of the three-year performance period for the long-term incentive plan. |
| 06/22/2026 | Date the Compensation Committee approved the payout of common shares based on performance. |
| 07/07/2026 | Transaction date for the acquisition of performance shares and disposition of shares for tax withholding. |
| 07/08/2026 | Date of signature for the Form 4 filing. |
Keywords
Form 4, SEC Filing, Worthington Enterprises, Patrick J. Kennedy, Insider Trading, Stock Options, Performance Shares, Restricted Stock, Executive Compensation, Beneficial Ownership
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