Joseph B. Hayek, President and CEO of Worthington Enterprises, Inc., filed a Form 4 on August 24, 2026, disclosing the acquisition of phantom stock units in the company's deferred compensation plan on August 21, 2026.

Key Highlights

  • Reporting person: Joseph B. Hayek, identified as President and CEO and a Director of Worthington Enterprises, Inc.
  • Transaction: Acquisition of 4.87 phantom stock units on August 21, 2026, at a price of $56.86 per unit.
  • Phantom stock balance: Following the transaction, Hayek held 6,212.25 derivative units (phantom stock) beneficially owned directly under the deferred compensation plan.
  • Direct common share ownership: 239,125 common shares held directly following reported transactions.
  • Indirect holdings: 2,000 common shares held indirectly through an IRA at Merrill Lynch, and 1,683 common shares held indirectly through an IRA at Vanguard, the latter reflecting additional shares from the dividend reinvestment feature as of the plan statement dated June 30, 2026.
  • Phantom stock dividend credit: The total phantom stock figure includes additional units credited via the dividend reinvestment feature of the 2005 NQ Plan on June 29, 2026.

Hayek's Deferred Compensation Plan Activity at Worthington Enterprises

According to the filing, the 4.87 phantom stock units acquired on August 21, 2026, were credited to Hayek's account under the Worthington Industries, Inc. Amended and Restated 2005 Deferred Compensation Plan for Directors. The filing states that these theoretical common shares "track WOR common shares on a one-for-one basis." The issuer is listed on NYSE with the trading symbol WOR.

The filing explains that, effective October 1, 2014, any amount credited to the phantom stock fund under the plan may not be transferred to an alternative deemed investment option until distribution. The filing further notes that "distributions are made only in WOR common shares and generally commence upon leaving Worthington Enterprises, Inc. and its subsidiaries." No cash settlement option is described for the phantom stock balance in the filing.

The Form 4 was signed by Patrick J. Kennedy as attorney-in-fact for Joseph B. Hayek on August 24, 2026. No transaction code was recorded for the non-derivative common share rows, indicating those rows reflect standing ownership positions rather than new open-market transactions in the reporting period.

What Was Disclosed

The filing discloses the acquisition of 4.87 phantom stock units at $56.86 each on August 21, 2026, bringing Hayek's total phantom stock to 6,212.25 units, alongside direct ownership of 239,125 common shares and indirect IRA holdings totaling 3,683 shares.