Form 4: Worthington Enterprises Executive Steven M. Caravati Reports Share Transaction
SEC Form 4 Filing
Steven M. Caravati, President Consumer Products at Worthington Enterprises, reports disposition of shares to cover tax obligations related to vesting restricted stock and adjustments due to the Worthington Steel spin-off.
Summary
- On June 25, 2024, Steven M. Caravati, President Consumer Products at Worthington Enterprises, engaged in a transaction involving common shares of the company.
- Specifically, 924 shares were disposed of at a price of $50.16 per share to satisfy tax withholding obligations upon the vesting of restricted stock.
- Following the reported transaction, Caravati beneficially owns 53,982 common shares.
- Holdings previously reported on Form 4 have been adjusted in connection with the Spin-Off of Worthington Steel, Inc. by the Issuer.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing a standard transaction. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard practice for reporting transactions by company insiders, providing transparency to investors regarding the buying and selling activities of those with privileged information.
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 |
|---|---|
| 06/25/2024 | Date of share transaction (disposal of shares for tax withholding). |
| 06/26/2024 | Date of signature on the Form 4 filing. |
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