Form 4: Workday CEO Carl Eschenbach Sells Shares to Cover Tax Obligations

Workday CEO Carl Eschenbach sold 11,084 shares of Class A Common Stock to cover tax obligations related to vesting of restricted stock units.

Summary

• Workday CEO Carl M. Eschenbach sold 11,084 shares of Class A Common Stock on December 5, 2024, at a price of $268.87 per share.
• The sale was to cover tax obligations related to the vesting of restricted stock units (RSUs) and performance restricted stock units (PRSUs).
• Following the transaction, Eschenbach directly owns 640,990 shares of Class A Common Stock.
• Eschenbach also indirectly owns 20,222 shares through the Eschenbach Family Trust.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, not indicative of any positive or negative sentiment towards the company's performance.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when their restricted stock units vest.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across the technology industry.
• Many executives at comparable companies such as Salesforce, Oracle, and SAP regularly sell shares for similar reasons.
• The amount of shares sold is relatively small compared to the total holdings of the CEO, which is typical for these types of transactions.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale for tax purposes.
• The sale does not indicate any change in the CEO's confidence in the company.

Key Dates

Keywords

Workday, Carl Eschenbach, stock sale, Form 4, insider trading, executive compensation, restricted stock units, performance restricted stock units