Form 4: Workday CEO Carl Eschenbach Reports Routine Stock Transaction

Workday CEO Carl Eschenbach reported the withholding of 1,674 shares of Class A Common Stock to cover tax obligations related to vested performance restricted stock units.

Summary

• Carl M. Eschenbach, CEO and Director of Workday, Inc., reported a transaction involving Class A Common Stock.
• On November 5, 2025, 1,674 shares of Class A Common Stock were withheld by Workday, Inc.
• This withholding was to satisfy tax obligations related to the vesting of performance restricted stock units (PRSUs).
• The shares were valued at $233.47 per share for the purpose of this transaction.
• Following this transaction, Carl Eschenbach directly beneficially owns 649,191 shares of Class A Common Stock.
• This direct ownership includes 249,936 restricted stock units (RSUs) and 185,560 PRSUs, which will convert to Class A Common Stock upon settlement, contingent on continued service.
• Additionally, Mr. Eschenbach indirectly beneficially owns 20,222 shares of Class A Common Stock through the Eschenbach Family Trust dated April 15, 2014.

Sentiment

Score: 5

Explanation: The filing reports a routine, administrative transaction (shares withheld for tax obligations upon vesting of equity awards) which is neutral in sentiment. It reflects standard executive compensation practices and does not indicate any significant positive or negative developments for the company or its stock price.

Positives

• The vesting of performance restricted stock units (PRSUs) indicates that performance conditions were met, leading to the issuance of shares to the executive.

Future Outlook

N/A

Industry Context

This is a routine insider transaction filing (Form 4) and does not provide specific industry context or trends. It reflects standard compensation practices for executives in the technology sector, where equity awards like RSUs and PRSUs are common.

Related Party Transactions

• Carl M. Eschenbach indirectly beneficially owns 20,222 shares through the Eschenbach Family Trust dated April 15, 2014, where he and his spouse are trustees and beneficiaries.

Stakeholder Impact

• Shareholders: This routine transaction has minimal direct impact on shareholders, as it's a standard part of executive compensation and tax compliance. It confirms the vesting of performance-based equity, which could be seen as a positive signal regarding past performance.
• Management: The transaction reflects the realization of value from previously granted equity awards for the CEO, Carl Eschenbach.

Next Steps

• Continued service with the Issuer is required for the vesting of remaining restricted stock units (RSUs) and performance restricted stock units (PRSUs).

Key Dates

Keywords

Workday, WDAY, Carl Eschenbach, SEC Form 4, beneficial ownership, Class A Common Stock, restricted stock units, performance restricted stock units, tax withholding, insider transaction