Worthington Enterprises Appoints New CFO
Ticker: WOR · Form: 8-K · Filed: Apr 12, 2024 · CIK: 108516
| Field | Detail |
|---|---|
| Company | Worthington Enterprises, Inc. (WOR) |
| Form Type | 8-K |
| Filed Date | Apr 12, 2024 |
| Risk Level | low |
| Pages | 5 |
| Reading Time | 5 min |
| Key Dollar Amounts | $2,429,600 b, $60.74, $2,025,072, $911,100 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, cfo, compensation
TL;DR
New CFO John Pappas starts April 15th with $475k salary + stock.
AI Summary
Worthington Enterprises, Inc. announced on April 9, 2024, the appointment of John P. Pappas as Executive Vice President and Chief Financial Officer, effective April 15, 2024. Pappas will receive an annual base salary of $475,000 and is eligible for a discretionary annual bonus. He will also be granted 150,000 restricted stock units, vesting over three years.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence.
Risk Assessment
Risk Level: low — This filing primarily concerns a routine executive appointment and compensation details.
Key Numbers
- $475,000 — CFO Base Salary (Annual compensation for John P. Pappas)
- 150,000 — RSUs Granted (Stock incentive for the new CFO)
Key Players & Entities
- Worthington Enterprises, Inc. (company) — Registrant
- John P. Pappas (person) — Appointed Executive Vice President and Chief Financial Officer
- $475,000 (dollar_amount) — Annual base salary for new CFO
- 150,000 (dollar_amount) — Restricted stock units granted to new CFO
- April 15, 2024 (date) — Effective date of CFO appointment
FAQ
Who has been appointed as the new Executive Vice President and Chief Financial Officer?
John P. Pappas has been appointed as the new Executive Vice President and Chief Financial Officer.
When is the effective date for the new CFO's appointment?
The appointment of John P. Pappas is effective April 15, 2024.
What is the annual base salary for the new CFO?
The annual base salary for John P. Pappas is $475,000.
What stock-based compensation will the new CFO receive?
John P. Pappas will be granted 150,000 restricted stock units, which will vest over three years.
Is the new CFO eligible for a bonus?
Yes, John P. Pappas is eligible for a discretionary annual bonus.
Filing Stats: 1,366 words · 5 min read · ~5 pages · Grade level 13.1 · Accepted 2024-04-12 16:01:59
Key Financial Figures
- $2,429,600 b — to Mr. Rose was 40,000 (i.e., valued at $2,429,600 based on the $60.74 per common share clos
- $60.74 — i.e., valued at $2,429,600 based on the $60.74 per common share closing price on April
- $2,025,072 — o Mr. Hayek was 33,340 (i.e., valued at $2,025,072), and to Mr. Caravati was 15,000 (i.e.,
- $911,100 — r. Caravati was 15,000 (i.e., valued at $911,100). The number of Performance Shares awar
Filing Documents
- wor-20240409.htm (8-K) — 50KB
- wor-ex99_1.htm (EX-99.1) — 47KB
- wor-ex99_2.htm (EX-99.2) — 49KB
- 0000950170-24-044014.txt ( ) — 275KB
- wor-20240409.xsd (EX-101.SCH) — 23KB
- wor-20240409_htm.xml (XML) — 4KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. The following exhibits, which are management contracts or compensatory plans or arrangements, are included with this Form 8K: Exhibit Description 10.1 Form of Worthington Enterprises, Inc. Amended and Restated 1997 Long-Term Incentive Plan Performance Share Award Agreement (Absolute Total Shareholder Return) 10.2 Form of Worthington Enterprises, Inc. Amended and Restated 1997 Long-Term Incentive Plan Performance Share Award Agreement (Share Price Appreciation)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. WORTHINGTON ENTERPRISES, INC. Date: April 12, 2024 By: /s/Patrick J. Kennedy Patrick J. Kennedy, Vice President - General Counsel and Secretary