Joseph B. Hayek, President and CEO of Worthington Enterprises, Inc., filed a Form 4 on November 2, 2026, disclosing a phantom stock acquisition dated October 30, 2026, under the company's deferred compensation plan.

Key Highlights

  • Reporting person: Joseph B. Hayek, identified in the filing as President and CEO and Director of Worthington Enterprises, Inc. (NYSE:WOR)
  • Phantom stock acquired: 5.07 theoretical common shares credited to Hayek's account on October 30, 2026, at a price of $62.75 per share
  • Total phantom stock following transaction: 6,258.93 derivative units held directly under the Worthington Industries, Inc. Amended and Restated 2005 Deferred Compensation Plan for Directors
  • Direct common share holdings: 239,125 common shares held directly following the reported transaction
  • Indirect holdings: 2,000 common shares held indirectly via IRA (Merrill Lynch) and 1,689 common shares via IRA (Vanguard), with the Vanguard amount including shares added through dividend reinvestment as of the plan statement dated September 30, 2026
  • Phantom stock source: The 5.07 units reflect dividend reinvestment credited to the phantom stock fund on September 29, 2026, as noted in the filing's footnotes

Hayek's Deferred Compensation Phantom Stock Credit at Worthington Enterprises

According to the filing, the October 30, 2026, transaction involved the acquisition of 5.07 phantom stock units credited to Hayek's account under the Worthington Industries, Inc. Amended and Restated 2005 Deferred Compensation Plan for Directors (referred to in the filing as "the Plan"). The filing describes these units as "theoretical WOR common shares" that "track WOR common shares on a one-for-one basis." The credited price was $62.75 per share.

The filing explains that the 5.07 units represent additional unfunded theoretical common shares credited pursuant to the dividend reinvestment feature of the 2005 NQ Plan on September 29, 2026. Following this transaction, Hayek's total phantom stock beneficial ownership stands at 6,258.93 units, held directly. The filing notes that effective October 1, 2014, amounts credited to the phantom stock fund under the Plan may not be transferred to an alternative deemed investment option, and that distributions are made only in WOR common shares, "generally commenc[ing] upon leaving Worthington Enterprises, Inc. and its subsidiaries."

On the non-derivative side, the filing reports Hayek directly holds 239,125 common shares. Indirect holdings include 2,000 shares through a Merrill Lynch IRA and 1,689 shares through a Vanguard IRA, with the Vanguard figure including shares acquired through that account's dividend reinvestment feature as reflected in the plan statement dated September 30, 2026. The Form 4 was signed by Patrick J. Kennedy as attorney-in-fact for Joseph B. Hayek.

What Was Disclosed

Hayek's Form 4 discloses a single acquisition of 5.07 phantom stock units at $62.75 on October 30, 2026, via dividend reinvestment under Worthington Enterprises' deferred compensation plan, bringing his total phantom stock position to 6,258.93 units, alongside 239,125 directly held common shares.