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

David Duffield, a director at Workday, Inc., executed multiple sales of Class A Common Stock on October 7th and 8th, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• David Duffield, a director at Workday, sold shares of Class A Common Stock on October 7th and 8th, 2024.
• The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 4, 2023.
• On October 7th, Duffield sold shares indirectly through the Dave and Cheryl Duffield Foundation.
• On October 8th, Duffield sold shares directly and also converted Class B Common Stock into Class A Common Stock.
• The sales prices ranged from approximately $235.45 to $241.36 per share.
• A total of 74,320 Class B shares were converted to Class A shares on October 8th.
• The total number of Class A shares sold on October 7th was 45,990.
• The total number of Class A shares sold on October 8th was 74,320.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating insider trading activity. The sentiment is neutral as it simply reports transactions without expressing any opinion or forward-looking statements.

Industry Context

Sales by insiders are a common occurrence and are often related to personal financial planning. The use of a 10b5-1 trading plan allows insiders to sell shares at predetermined times and prices, avoiding accusations of trading on inside information.

Stakeholder Impact

• The sale of shares by a director could be perceived negatively by some shareholders, potentially creating downward pressure on the stock price, although the existence of a 10b5-1 plan mitigates this concern.

Key Dates