Worthington Enterprises, Inc DEFA14A, filed Aug 21, 2023
Worthington Enterprises, Inc. (WOR)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
(Rule 14a-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934
Filed by the Registrant ☒
Filed by a party other than the Registrant ☐
Check the appropriate box:
☐ Preliminary Proxy Statement
☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
☐ Definitive Proxy Statement
☒ Definitive Additional Materials
☐ Soliciting Material under §240.14a-12
WORTHINGTON INDUSTRIES, INC.
(Name of Registrant as Specified in its Charter)
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check all boxes that apply):
☒ No fee required
☐ Fee paid previously with preliminary materials
☐ Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11
1
Worthington Industries, Inc.
Supplemental Proxy Materials
August 21, 2023
On August 15, 2023, Worthington Industries, Inc. (the “Company”) filed with the U.S. Securities and Exchange Commission, made available to its shareholders online at www.proxyvote.com, and began mailing to its shareholders the Company’s definitive proxy statement for the annual meeting of its shareholders to be held on September 27, 2023 (the “2023 Proxy Statement”). After filing, posting and mailing the 2023 Proxy Statement, the Company discovered a scrivener’s error in one cell in each of the three tables included in the “Potential Payments Upon Termination or Change in Control” section of the 2023 Proxy Statement, which resulted in inaccurate amounts being reported in the “Aggregate Total” columns for Geoffrey G. Gilmore, Executive Vice President and Chief Operating Officer of the Company. Such tables should have reflected the following:
The following tables reflect the corrected information for Mr. Gilmore in the “Potential Payments Upon Termination or Change in Control” section of the Company’s 2023 Proxy Statement:
Termination Due to Death or Disability |
|
||||||||||||||||||||
NEO |
Annual Cash Incentive Bonus Awards ($) |
|
Stock Options ($) |
|
Long-Term Cash Performance Awards ($) |
|
Long-Term Performance Share Awards ($) |
|
Time-Vested Restricted Common Share Awards ($) |
|
Performance-Based/Time-Vested Restricted Common Share Awards ($) |
|
Aggregate Total ($) |
|
|||||||
B. Andrew Rose |
|
1,047,900 |
|
|
420,196 |
|
|
2,085,067 |
|
|
1,042,955 |
|
|
4,625,112 |
|
|
0 |
|
|
9,221,230 |
|
Joseph B. Hayek |
|
613,770 |
|
|
139,625 |
|
|
625,520 |
|
|
313,082 |
|
|
2,632,497 |
|
|
0 |
|
|
4,324,494 |
|
Geoffrey G. Gilmore |
|
810,716 |
|
|
175,006 |
|
|
729,773 |
|
|
369,680 |
|
|
3,205,023 |
|
|
0 |
|
|
5,290,198 |
|
John P. McConnell |
|
427,623 |
|
|
71,693 |
|
|
1,345,333 |
|
|
0 |
|
|
527,622 |
|
|
0 |
|
|
2,372,271 |
|
Steven M. Caravati |
|
243,146 |
|
|
23,376 |
|
|
117,466 |
|
|
62,112 |
|
|
1,150,665 |
|
|
0 |
|
|
1,596,765 |
|
Retirement |
|
||||||||||||||||||||
NEO |
Annual Cash Incentive Bonus Awards ($) |
|
Stock Options ($) |
|
Long-Term Cash Performance Awards ($) |
|
Long-Term Performance Share Awards ($) |
|
Time-Vested Restricted Common Share Awards (1) ($) |
|
Performance-Based/Time-Vested Restricted Common Share Awards ($) |
|
Aggregate Total ($) |
|
|||||||
B. Andrew Rose |
|
1,047,900 |
|
|
420,196 |
|
|
2,085,067 |
|
|
1,042,955 |
|
|
4,625,112 |
|
|
0 |
|
|
9,221,230 |
|
Joseph B. Hayek |
|
613,770 |
|
|
139,625 |
|
|
625,520 |
|
|
313,082 |
|
|
2,632,497 |
|
|
0 |
|
|
4,324,494 |
|
Geoffrey G. Gilmore |
|
810,716 |
|
|
175,006 |
|
|
729,773 |
|
|
369,680 |
|
|
3,205,023 |
|
|
0 |
|
|
5,290,198 |
|
John P. McConnell |
|
427,623 |
|
|
71,693 |
|
|
1,345,333 |
|
|
0 |
|
|
527,622 |
|
|
0 |
|
|
2,372,271 |
|
Steven M. Caravati |
|
243,146 |
|
|
23,376 |
|
|
117,466 |
|
|
62,112 |
|
|
1,150,665 |
|
|
0 |
|
|
1,596,765 |
|
(1) Assumes the Compensation Committee provides for full vesting of all such time-vested restricted common shares, consistent with past practice.
2
Change in Control with Termination |
|
||||||||||||||||||||
NEO |
Annual Cash Incentive Bonus Awards ($) |
|
Stock Options ($) |
|
Long-Term Cash Performance Awards ($) |
|
Long-Term Performance Share Awards ($) |
|
Time-Vested Restricted Common Share Awards ($) |
|
Performance-Based/Time-Vested Restricted Common Share Awards ($) |
|
Aggregate Total ($) |
|
|||||||
B. Andrew Rose |
|
1,047,900 |
|
|
420,196 |
|
|
2,085,067 |
|
|
1,042,955 |
|
|
4,625,112 |
|
|
9,822,750 |
|
|
19,043,980 |
|
Joseph B. Hayek |
|
613,770 |
|
|
139,625 |
|
|
625,520 |
|
|
313,082 |
|
|
2,632,497 |
|
|
2,806,500 |
|
|
7,130,994 |
|
Geoffrey G. Gilmore |
|
810,716 |
|
|
175,006 |
|
|
729,773 |
|
|
369,680 |
|
|
3,205,023 |
|
|
4,209,750 |
|
|
9,499,948 |
|
John P. McConnell |
|
427,623 |
|
|
71,693 |
|
|
1,345,333 |
|
|
0 |
|
|
527,622 |
|
|
0 |
|
|
2,372,271 |
|
Steven M. Caravati |
|
243,146 |
|
|
23,376 |
|
|
117,466 |
|
|
62,112 |
|
|
1,150,665 |
|
|
561,300 |
|
|
2,158,065 |
|
3