Form 4: Worthington Steel Director Converts Phantom Stock to Shares
Insider Transaction Report
Worthington Steel Director Mary Fackler Schiavo converted phantom stock into common shares, increasing her direct ownership.
Summary
- Mary Fackler Schiavo, a Director of Worthington Steel, Inc. (WS), reported changes in her beneficial ownership on January 22, 2026.
- She acquired 291.578 common shares of Worthington Steel, Inc. through the conversion of Phantom Stock under a Deferred Compensation Plan.
- This conversion was pursuant to an election made in 2013 to receive 1/10th of deferred amounts from 2014 in 2026.
- Fractional shares totaling 0.578 were disposed of for cash at a price of $35.14 per share.
- Following these transactions, Ms. Schiavo directly owns 96,779.578 common shares.
- She also holds 18,172.848 unfunded theoretical common shares (phantom stock) under the Non-Qualified Deferred Compensation Plan for Directors.
Sentiment
Score: 7
Explanation: The transaction represents a director converting phantom stock into common shares, increasing their direct equity stake, which generally signals confidence and aligns interests with shareholders. The transaction was pre-planned under a 10b5-1 plan.
Positives
- A Director, Mary Fackler Schiavo, increased her direct beneficial ownership of Worthington Steel, Inc. common shares by 291.578 shares.
- The conversion of phantom stock into common shares aligns the director's interests more closely with those of common shareholders.
Negatives
- A small number of fractional shares (0.578) were disposed of for cash at $35.14 per share, indicating a minor cash out rather than full equity retention.
Future Outlook
The filing does not contain specific forward-looking statements or guidance regarding the company's future performance or strategic direction.
Industry Context
This filing is a routine insider transaction report and does not provide information directly related to broader industry trends or competitive landscape.
Stakeholder Impact
- Shareholders: Increased alignment of a director's interests with common shareholders due to increased direct equity ownership.
Key Dates
| Date | Description |
|---|---|
| 01/22/2026 | Date of earliest transaction (acquisition of common shares and disposition of fractional shares). |
| 01/26/2026 | Date the Form 4 was signed by the attorney-in-fact for Mary Schiavo. |
Keywords
Worthington Steel, WS, Insider Transaction, Form 4, Director Ownership, Phantom Stock, Deferred Compensation, Equity Conversion
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