Form 4: Workday Director David Duffield Sells Shares Worth Millions
SEC Form 4 Filing
David Duffield, a director at Workday, Inc., sold a significant number of Class A Common Stock shares on September 3, 2024, according to a recent SEC filing.
Summary
- On September 3, 2024, David Duffield, a director at Workday, Inc., sold shares of Class A Common Stock.
- The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 4, 2023.
- A total of 66,492 shares were sold at prices ranging from $258.92 to $265.9499.
- Following the transactions, Duffield directly owns 102,997 shares and indirectly owns 562,000 shares through the Dave and Cheryl Duffield Foundation.
- Duffield also directly owns 43,299,761 shares of Class B Common Stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports transactions executed under a pre-existing plan. There's no indication of positive or negative sentiment towards the company's future prospects.
Industry Context
Sales by insiders are a common occurrence and are often related to personal financial planning rather than a reflection of the company's prospects. However, large sales can sometimes create short-term price pressure.
Stakeholder Impact
- The sale of shares could exert downward pressure on the stock price in the short term, potentially affecting shareholders.
- The transactions do not appear to have a direct impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| July 14, 1988 | Date of the David A. Duffield Trust, a revocable living trust. |
| December 4, 2023 | Date the Rule 10b5-1 trading plan was adopted by the David A. Duffield Trust, the Cheryl D. Duffield Trust, and the Dave & Cheryl Duffield Foundation. |
| September 3, 2024 | Date of the reported transactions (sale of Class A Common Stock). |
| September 5, 2024 | Date of the signature on the SEC filing. |
| October 11, 2032 | Date when all shares of Class A and Class B Common Stock will convert automatically into shares of a single class of Common Stock. |
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