Mary Schiavo - Feb 21, 2024 Form 4 Insider Report for Worthington Steel, Inc. (WS)

Role: Director
Signature: /s/ Joseph Y. Heuer, as attorney-in-fact for Mary Schiavo
Stock symbol: WS
Transactions as of: Feb 21, 2024
Transactions value $: -$13
Form type: 4
Date filed: 2/23/2024, 04:24 PM
Previous filing: Dec 5, 2023
Next filing: Oct 1, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	WS	Common Shares	Options Exercise		+287	+0.34%		86K	Feb 21, 2024	Direct	F1
transaction	WS	Common Shares	Disposed to Issuer	-$13	-0.439	0%	$30.32	86K	Feb 21, 2024	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	WS	Phantom Stock Acquired Under Deferred Compenation Plan	Options Exercise		-287	-1.51%		18.8K	Feb 21, 2024	Common Shares	287		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each share of WS Phantom Stock was the economic equivalent of one common share of Worthington Steel, Inc. Pursuant to an election made in 2013, the reporting person elected to receive 1/10th of amounts she deferred in 2014 in 2024. The reporting person elected to receive her WS Phantom Stock in common shares of Worthington Steel, Inc. Per the terms of the NQ Plan, all fractional shares are paid in cash.
F2	Represents unfunded theoretical common shares (i.e. phantom stock) of the Issuer ("WS Phantom Shares") credited to a bookkeeping account for the benefit of the Reporting Person under the Worthington Steel, Inc. Non-Qualified Deferred Compensation Plan for Directors ("NQ Plan"). The WS Phantom Shares credited to the Reporting Person's account track common shares of the Issuer on a one-for-one basis. Distributions are made only in common shares of the Issuer and generally commence upon leaving the Issuer and its subsidiaries.

Content

Each share of WS Phantom Stock was the economic equivalent of one common share of Worthington Steel, Inc. Pursuant to an election made in 2013, the reporting person elected to receive 1/10th of amounts she deferred in 2014 in 2024. The reporting person elected to receive her WS Phantom Stock in common shares of Worthington Steel, Inc. Per the terms of the NQ Plan, all fractional shares are paid in cash.

Represents unfunded theoretical common shares (i.e. phantom stock) of the Issuer ("WS Phantom Shares") credited to a bookkeeping account for the benefit of the Reporting Person under the Worthington Steel, Inc. Non-Qualified Deferred Compensation Plan for Directors ("NQ Plan"). The WS Phantom Shares credited to the Reporting Person's account track common shares of the Issuer on a one-for-one basis. Distributions are made only in common shares of the Issuer and generally commence upon leaving the Issuer and its subsidiaries.