CHAN KEVIN J

Kevin J. Chan, the Controller at Worthington Enterprises (WOR), has filed 44 Form 4 transactions over the past year, yet the pattern reveals a purely mechanical relationship with the company’s stock rather than any discretionary buying or selling. Across all filings, Chan has recorded zero open-market purchases and zero open-market sales. The total value of shares acquired during the period amounts to just $12,294, with every single transaction coded as either an “A” (grant or award) or an “F” (shares withheld to cover tax obligations). No “P” or “S” codes—the only designations that signal a voluntary conviction trade—appear anywhere in the record. The recent activity, spanning late January through late July 2026, is dominated by small, recurring equity grants. These awards cluster around $244 to $246 per transaction, with the largest single grant occurring on July 7, 2026, at $2,438.42. That same day, Chan also had $8,600.58 in shares withheld to satisfy tax liabilities—an automatic process that reduces his holdings without any market sale. The remaining grants, such as those on June 12, May 29, and April 17, are all sub-$250 awards, suggesting routine compensation vesting rather than any accumulation strategy. The absence of any open-market activity is telling. Chan is neither building a position through purchases nor liquidating shares through sales; his net exposure to WOR is driven entirely by the company’s compensation schedule and the corresponding tax withholding mechanics. For investors monitoring insider behavior, this is a textbook example of a non-signal: the filings reflect administrative adjustments, not a directional bet on the stock. The consistency of the grant sizes and the lack of any large, lump-sum transactions further reinforce that Chan’s insider activity carries no predictive weight regarding Worthington Enterprises’ near-term prospects.