Form 4: Workday Director David Duffield Sells Shares Under 10b5-1 Plan

Workday director David Duffield sold a significant number of Class A common stock shares through a pre-arranged 10b5-1 trading plan.

Summary

• David Duffield, a director at Workday, Inc., sold shares of Class A Common Stock on December 23, 2024.
• The sales were executed under a pre-existing Rule 10b5-1 trading plan adopted on December 4, 2023.
• The transactions involved multiple sales at varying prices, ranging from $264.02 to $271.8699 per share.
• A total of 55,990 shares were sold across multiple transactions.
• The shares were sold from the Dave and Cheryl Duffield Foundation.
• Following the transactions, the Dave and Cheryl Duffield Foundation holds 228,000 shares of Class A Common Stock.
• David Duffield also directly holds 102,997 shares of Class A Common Stock.
• David Duffield also holds 42,784,905 shares of Class B Common Stock.

Sentiment

Score: 5

Explanation: The document reflects a routine insider transaction under a pre-existing plan, which is neither positive nor negative for the company's outlook.

Risks

• The sale of a significant number of shares by a director could be perceived negatively by the market.
• The 10b5-1 plan indicates a pre-determined strategy for selling shares, which may continue in the future.

Industry Context

This is a routine filing related to insider trading activity. It is common for executives and directors to use 10b5-1 plans to manage their stock sales.

Comparison to Industry Standards

• The use of 10b5-1 trading plans is a common practice among corporate insiders to avoid accusations of insider trading.
• The volume of shares sold is not unusual for a director of a company of Workday's size.
• Comparable companies such as Salesforce and Oracle also see similar filings from their executives.

Stakeholder Impact

• The sale of shares by a director may cause some short-term volatility in the stock price.
• The long-term impact on stakeholders is likely to be minimal as the sales were part of a pre-arranged plan.

Key Dates

Keywords

Workday, David Duffield, insider trading, Form 4, share sale, 10b5-1 plan, Class A Common Stock, Class B Common Stock