Form 4: Worthington Steel Executive Klingler Reports Share Withholding for Tax Obligations
SEC Form 4
Jeffrey R. Klingler, Chief Operating Officer of Worthington Steel, reports withholding of shares to cover tax obligations upon vesting of restricted stock.
Summary
- On June 25, 2024, Jeffrey R. Klingler, the Chief Operating Officer of Worthington Steel, had 4,392 common shares withheld to satisfy tax obligations related to the vesting of restricted stock.
- The shares were withheld at a price of $30.67 per share.
- Following the transaction, Klingler directly owns 67,681 common shares.
- Klingler also indirectly owns 4,600 common shares through an IRA and 1.22 shares through a 401K plan.
Sentiment
Score: 5
Explanation: This is a neutral event related to standard executive compensation practices. It doesn't indicate positive or negative sentiment towards the company's performance.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track executive sentiment and potential alignment with shareholder interests.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders, as it is a routine part of executive compensation.
Key Dates
| Date | Description |
|---|---|
| 06/25/2024 | Date of the transaction where shares were withheld for tax obligations. |
| 06/27/2024 | Date of signature for the Form 4 filing. |
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