Sidney A. Ribeau - 20 Apr 2022 Form 4 Insider Report for WORTHINGTON INDUSTRIES INC (WOR)

Role
Director
Signature
/s/Patrick J. Kennedy, as attorney-in-fact for Sidney A. Ribeau
Issuer symbol
WOR
Transactions as of
20 Apr 2022
Net transactions value
-$280,800
Form type
4
Filing time
21 Apr 2022, 10:04:03 UTC
Previous filing
30 Sep 2021
Next filing
30 Sep 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WOR Common Shares Options Exercise $176,480 +8,000 +14% $22.06 66,505 20 Apr 2022 Direct
transaction WOR Common Shares Sale $457,280 -8,000 -12% $57.16 58,505 20 Apr 2022 Direct F1

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 WOR Non-qualified stock option (right to buy) Options Exercise $0 -8,000 -100% $0.000000* 0 20 Apr 2022 Common Shares 8,000 $22.06 Direct F2
holding WOR Phantom stock acquired under Deferred Compensation Plan 18,131 20 Apr 2022 Common Shares 1,218 Direct F3, F4, F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The price reported is a weighted average price. The reporting person undertakes to provide to Worthington Industries, Inc. (the "Issuer"), any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of common shares sold at each separate price within the ranges set forth.
F2 This non-qualified stock option was granted pursuant to the Worthington Industries, Inc. 2006 Equity Incentive Plan for Non-Employee Directors and became vested and fully exercisable on the date of the next Annual Meeting of Shareholders of Worthington Industries, Inc. following the grant date.
F3 The theoretical common shares (phantom stock) credited to the reporting person's account in the Worthington Industries, Inc. Amended and Restated 2005 Deferred Compensation Plan for Directors, as amended (the "2005 Director Deferred Compensation Plan") track Common Shares of Worthington Industries, Inc. (the "Company") on a one-for-one basis.
F4 Prior to October 1, 2014, the account balances related to the theoretical Worthington Industries, Inc. common shares deemed investment option could be immediately transferred to other deemed investment options under the terms of the deferred compensation Plan in which the reporting person participates. See footnote following.
F5 The 2005 Director Deferred Compensation Plan provides that effective October 1, 2014 and thereafter any amount credited in a participant's account to the phantom stock fund (i.e. theoretical common shares deemed investment option) may not be transferred to an alternative deemed investment option under the 2005 Director Deferred Compensation Plan until distribution from the 2005 Director Deferred Compensation Plan. Distributions are made only in common shares of Worthington Industries, Inc. and generally commence upon the leaving the Board of Directors of Worthington Industries, Inc.
F6 The amount shown reflects additional theoretical common shares (i.e., phantom stock) which were credited pursuant to the dividend reinvestment feature of the 2005 Director Deferred Compensation Plan since the date on which the amount of theoretical common shares credited pursuant to the dividend reinvestment feature under the 2005 Director Deferred Compensation Plan was last updated in the reporting person's Form 4 filed on April 18, 2019.

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney