Form 4: Workday CAO Sells Shares for Tax Obligations

Workday's Chief Accounting Officer, Mark S. Garfield, disposed of 3,767 shares of Class A Common Stock to cover tax withholding obligations related to RSU vesting.

Summary

• Mark S. Garfield, Workday, Inc.'s Chief Accounting Officer, reported a transaction on October 5, 2025.
• The transaction involved the disposition of 3,767 shares of Class A Common Stock at a price of $236.48 per share.
• These shares were withheld by Workday, Inc. to satisfy tax withholding obligations in connection with the vesting of restricted stock units (RSUs).
• Following this transaction, Mr. Garfield beneficially owns 39,266 shares of Class A Common Stock.
• The beneficial ownership includes 33,965 RSUs, which entitle Mr. Garfield to receive one share of Class A Common Stock upon settlement, subject to continued service.
• Beneficial ownership also includes 56 shares of Class A Common Stock purchased through the Issuer's Employee Stock Purchase Program on May 30, 2025.

Sentiment

Score: 5

Explanation: The filing reports a routine, non-discretionary insider transaction for tax withholding purposes, which is neutral in sentiment and does not indicate any change in company fundamentals or management's outlook.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This is a routine insider transaction related to compensation and tax obligations, which is common across publicly traded companies when executive equity awards vest. It does not provide specific insights into broader industry trends or competitive positioning.

Stakeholder Impact

• Shareholders: Minimal impact as this is a routine, non-discretionary transaction for tax purposes and does not reflect a change in management's confidence or company performance.
• Employees: No direct impact beyond the reporting person, as it relates to individual equity compensation.

Key Dates

Recommendation

This Form 4 filing details a routine, non-discretionary sale of shares by Workday's Chief Accounting Officer to cover tax obligations upon RSU vesting. Such transactions are common and do not typically signal a change in the company's fundamental performance or management's long-term view. Therefore, it does not provide new information that would warrant a change from a 'hold' recommendation.

Keywords

Workday, WDAY, Insider Transaction, Form 4, Stock Sale, RSU Vesting, Tax Withholding, Mark S. Garfield, Chief Accounting Officer