Form 4: Workday Chief Legal Officer Sells Shares Following RSU Vesting
SEC Form 4 Filing
Workday's Chief Legal Officer, Richard Harry Sauer, sold a portion of his Class A Common Stock following the vesting of restricted stock units, according to a recent SEC Form 4 filing.
Summary
- Richard Harry Sauer, Chief Legal Officer of Workday, Inc., reported transactions involving the company's Class A Common Stock.
- On January 5, 2025, 2,542 shares were withheld to cover tax obligations related to the vesting of restricted stock units (RSUs).
- On January 7, 2025, Mr. Sauer sold a total of 3,677 shares in multiple transactions at weighted average prices ranging from $251.4805 to $253.19.
- These sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on June 7, 2023.
- Following these transactions, Mr. Sauer beneficially owns 79,576 shares of Class A Common Stock, which includes 68,842 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a routine SEC filing detailing insider stock transactions. It does not contain any information that would indicate a positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider transactions and is common for executives who receive stock-based compensation. It does not necessarily indicate a change in the company's outlook or performance.
Comparison to Industry Standards
- Similar filings are common across publicly traded companies, particularly after vesting periods for stock-based compensation.
- The use of a Rule 10b5-1 trading plan is a standard practice for corporate insiders to avoid accusations of trading on non-public information.
- The price range of the sales is consistent with the market price of Workday stock at the time of the transactions.
Stakeholder Impact
- The transactions are unlikely to have a significant impact on stakeholders as they are routine and pre-planned.
Key Dates
| Date | Description |
|---|---|
| 06/07/2023 | Date the Rule 10b5-1 trading plan was adopted by the reporting person. |
| 01/05/2025 | Date of tax withholding for vested restricted stock units. |
| 01/07/2025 | Date of multiple sales of Class A Common Stock. |
Keywords
Workday, SEC Form 4, insider trading, stock sale, Rule 10b5-1, restricted stock units, WDAY, Richard Harry Sauer, Chief Legal Officer
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