Form 4: Workday Co-President Sayan Chakraborty Sells Shares Under 10b5-1 Trading Plan

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

Summary

• On August 26, 2024, Sayan Chakraborty, Co-President of Workday, Inc., sold shares of Class A Common Stock.
• The sales were executed under a Rule 10b5-1 trading plan adopted on October 4, 2023.
• A total of 5,496 shares were sold in multiple transactions at varying weighted average prices.
• The prices ranged from $258.29 to $263.5199 per share.
• Following the reported transactions, Chakraborty directly owns 130,876 shares of Class A Common Stock, which includes 130,252 RSUs.
• Chakraborty also indirectly owns 9,716 shares through the S. Chakraborty and J. Franklin Living Trust.

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 sales were pre-planned under a 10b5-1 plan.

Industry Context

Sales by company executives are a normal part of corporate governance. The fact that these sales were executed under a 10b5-1 plan suggests they were pre-planned and not based on any inside information.

Comparison to Industry Standards

• Executive stock sales are common across publicly traded companies, especially in the tech sector.
• Companies like Salesforce (CRM) and Oracle (ORCL) also see regular Form 4 filings from their executives.
• The use of 10b5-1 plans is a standard practice to avoid accusations of insider trading, aligning with industry best practices.

Stakeholder Impact

• The stock sales could have a minor impact on shareholder sentiment, but the existence of a 10b5-1 plan mitigates concerns about insider trading.
• The sales do not directly impact employees, customers, suppliers, or creditors.

Key Dates