Form 4: Workday Co-President Douglas A. Robinson Sells Shares Under 10b5-1 Plan

Workday's Co-President, Douglas A. Robinson, executed sales of Class A Common Stock on August 26, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On August 26, 2024, Douglas A. Robinson, Co-President of Workday, Inc., sold shares of Class A Common Stock.
• The sales were executed under a pre-existing Rule 10b5-1 trading plan adopted on October 2, 2023.
• A total of 3,121 shares were sold in multiple transactions at varying weighted average prices.
• The prices ranged from $258.64 to $261.91 per share.
• Following the reported transactions, Robinson still beneficially owns 196,344 shares of Class A Common Stock, which includes 135,622 RSUs.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to stock sales by an executive, which is neither particularly positive nor negative. The use of a 10b5-1 plan suggests the sales were pre-planned.

Industry Context

Executive stock sales are a common occurrence, and the use of a 10b5-1 plan suggests the sales were pre-planned and not based on any inside information. Investors often monitor these filings for insights into management's perspective on the company's value.

Comparison to Industry Standards

• Executive stock sales are a normal part of compensation and portfolio management in publicly traded companies.
• The use of a 10b5-1 trading plan is a common practice among executives to avoid accusations of insider trading.
• Comparable companies like Salesforce (CRM) and Oracle (ORCL) also see regular Form 4 filings from their executives.

Stakeholder Impact

• The stock sale by a company executive could be perceived negatively by some shareholders, but the existence of a 10b5-1 plan mitigates this concern.

Key Dates