Form 4: Worthington Steel Director Mary Schiavo Acquires Shares Through Deferred Compensation Plan

Director Mary Schiavo acquired 289.097 common shares of Worthington Steel through a deferred compensation plan, while also disposing of 0.097 shares for cash.

Summary

• Mary Schiavo, a director at Worthington Steel, acquired 289.097 common shares on January 2, 2025, through a deferred compensation plan.
• These shares were received as part of a 2013 election to receive 1/10th of deferred amounts from 2014.
• The director also disposed of 0.097 common shares for $31.4 each, resulting in a total of 90,652 shares directly owned.
• The acquisition was related to phantom stock units that were converted into common shares.
• Fractional shares were paid out in cash as per the terms of the Non-Qualified Deferred Compensation Plan.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to slightly positive as it aligns director interests with shareholders.

Positives

• The acquisition of shares by a director demonstrates confidence in the company's future.
• The deferred compensation plan provides a mechanism for aligning director interests with shareholder value.

Industry Context

This is a routine filing related to director compensation and is not indicative of any broader industry trends.

Comparison to Industry Standards

• Director compensation through deferred plans is a common practice in publicly traded companies.
• The use of phantom stock is a standard method for providing equity-based compensation to directors.
• The reporting of these transactions via SEC Form 4 is a standard regulatory requirement.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns director interests with the company's performance.

Key Dates

Keywords

Worthington Steel, Director, Mary Schiavo, Share Acquisition, Deferred Compensation, Phantom Stock, Form 4, Insider Trading