CHAN KEVIN J 4

What Happened
Kevin J. Chan, Controller of Worthington Enterprises, received an award/allocation of 4.62 theoretical (phantom) Worthington common shares on January 23, 2026, valued at $53.01 each for a total reported value of $245. This was a derivative credit (not an open-market purchase) reported as an acquisition under the company’s plans.

Key Details

• Transaction date: 2026-01-23; price used: $53.01; total value: $245.
• Transaction type: Award/acquisition of derivative (phantom) shares via 401(k)/Deferred Compensation Plan (codes: A / Derivative).
• Shares owned after transaction: Not specified in the Form 4.
• Filing date: 2026-01-26 — appears timely relative to the transaction date.
• Notable footnotes: F1 indicates the report is based on a 401(k) statement dated Jan 23, 2026; F2–F4 explain these are “phantom stock” one-for-one with WOR common shares, subject to plan transfer restrictions (no transfers after Oct 1, 2014) and distributions are made in WOR shares when participants leave; F4 notes dividend reinvestment increased the theoretical share count as of Dec 31, 2025.

Context
This was a plan credit of phantom/deferred-comp shares (routine administrative allotment) rather than a market purchase or sale. Phantom shares track the stock value but are unfunded theoretical shares in the company’s deferred compensation/401(k) plan and generally convert to actual WOR shares only upon distribution per plan rules. The reported amount ($245) is small and should be viewed as a plan allocation, not a direct signal of insider buying or selling intent.