Form 4: Workday Director David Duffield Sells Shares Worth Millions
SEC Form 4
David Duffield, a director at Workday, Inc., executed multiple sales of Class A Common Stock on April 1, 2024, according to a recent SEC filing.
Summary
- On April 1, 2024, David Duffield, a director at Workday, sold shares of Class A Common Stock.
- The sales were executed at various prices ranging from approximately $269.87 to $272.63 per share.
- The transactions were conducted under a pre-arranged Rule 10b5-1 trading plan.
- Duffield sold shares both directly and indirectly through the Dave and Cheryl Duffield Foundation.
- Following the reported transactions, Duffield directly owns 102,997 shares and indirectly owns 955,000 shares through the Dave and Cheryl Duffield Foundation.
Sentiment
Score: 5
Explanation: The sentiment is neutral. The filing simply reports transactions and doesn't offer any positive or negative commentary on the company's prospects. The sales were pre-planned.
Future Outlook
The filing does not contain any specific forward-looking statements regarding Workday's future performance.
Industry Context
Insider sales are a common occurrence, and the fact that these sales were conducted under a pre-arranged 10b5-1 trading plan suggests they were planned and not necessarily indicative of a negative outlook on the company.
Stakeholder Impact
- The sale of shares by a director could potentially create uncertainty among shareholders, although the existence of a pre-arranged trading plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| 1988-07-14 | Date of the David A. Duffield Trust. |
| 2023-12-04 | Date of the Rule 10b5-1 trading plan adoption by the David A. Duffield Trust, the Cheryl D. Duffield Trust, and the Dave & Cheryl Duffield Foundation. |
| 2024-04-01 | Date of the reported transactions (sales of Class A Common Stock). |
| 2024-04-03 | Date of signature on the Form 4 filing. |
| 2032-10-11 | Date when all shares of Class A and Class B Common Stock will convert automatically into shares of a single class of Common Stock. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.