Form 4: Workday Director David Duffield Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Workday director David Duffield sold a total of 55,900 Class A common stock shares through a pre-arranged 10b5-1 trading plan on January 6, 2025.
Summary
- David Duffield, a director at Workday, Inc., executed multiple sales of Class A Common Stock on January 6, 2025.
- The sales were conducted under a pre-existing Rule 10b5-1 trading plan adopted on December 4, 2023.
- A total of 55,900 shares were sold across several transactions at weighted average prices ranging from $252.6486 to $257.38.
- The shares were sold both directly and indirectly through the Dave and Cheryl Duffield Foundation.
- Following these transactions, Mr. Duffield directly owns 102,997 shares and indirectly owns 116,000 shares through the Dave and Cheryl Duffield Foundation.
- Mr. Duffield also holds 42,717,083 shares of Class B Common Stock which can be converted to Class A Common Stock.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of insider trading activity, which is neither positive nor negative in itself. The sales were pre-planned and expected.
Risks
- The sale of a significant number of shares by a director could potentially be perceived negatively by the market.
Industry Context
Insider trading activity is a normal part of the market, and this filing is a routine disclosure of a pre-planned sale by a company director.
Comparison to Industry Standards
- Form 4 filings are standard practice for reporting insider transactions in publicly traded companies.
- The use of a 10b5-1 trading plan is a common method for insiders to sell shares while avoiding accusations of trading on non-public information.
- The volume of shares sold is not unusual for a director of a company of Workday's size.
Stakeholder Impact
- The sale of shares by a director could potentially cause a minor negative reaction from shareholders, but the pre-planned nature of the sale should mitigate this.
Key Dates
| Date | Description |
|---|---|
| 2023-12-04 | Date of adoption of the Rule 10b5-1 trading plan by the David A. Duffield Trust, the Cheryl D. Duffield Trust, and the Dave & Cheryl Duffield Foundation. |
| 2025-01-06 | Date of the reported stock sales by David Duffield. |
| 2025-01-07 | Date of the filing of the Form 4. |
| 2032-10-11 | One of the dates when Class B shares will automatically convert to Class A shares. |
Keywords
Workday, David Duffield, insider trading, Form 4, stock sale, 10b5-1 plan, Class A Common Stock, Class B Common Stock
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