Form 4: Workday Director George J. Still Jr. Receives 1,530 Restricted Stock Units

Workday, Inc. Director George J. Still Jr. was granted 1,530 restricted stock units (RSUs) on June 4, 2025, as part of his compensation, vesting fully on May 5, 2026.

Summary

• George J. Still Jr., a Director of Workday, Inc. (WDAY), acquired 1,530 shares of Class A Common Stock in the form of restricted stock units (RSUs).
• The transaction occurred on June 4, 2025, with a reported price of $0 per share, indicating a grant rather than a purchase.
• These 1,530 RSUs are scheduled to vest 100% on May 5, 2026, contingent on Mr. Still's continued service with Workday.
• Following this transaction, Mr. Still directly beneficially owns 45,777 shares of Class A Common Stock.
• Additionally, he indirectly beneficially owns 75,000 shares through the Still Family Trust and 74,784 shares through Still Family Partners, LLC.

Sentiment

Score: 7

Explanation: The grant of RSUs to a director is a positive sign of continued alignment and compensation, reflecting standard corporate governance practices. It's not a direct market purchase, but it ties the director's future wealth to the company's performance.

Positives

• The grant of 1,530 restricted stock units to a director aligns management's interests with shareholders, as the value of the compensation is tied to the company's stock performance.
• The vesting schedule encourages continued service and commitment from the director, promoting long-term stability in governance.

Negatives

• The shares were granted at a price of $0, meaning there was no direct cash investment by the director in this specific transaction.

Risks

• The vesting of the 1,530 restricted stock units is subject to the reporting person's continued service with Workday on the applicable vesting date (May 5, 2026), meaning the shares could be forfeited if service ceases before then.

Future Outlook

The grant of restricted stock units with a future vesting date indicates an expectation of continued service from the director through at least May 5, 2026, aligning his long-term interests with the company's performance.

Industry Context

This transaction is a standard form of equity compensation for directors in publicly traded technology companies like Workday, Inc., aiming to align their interests with long-term shareholder value creation. Such grants are common practice across the software and cloud computing industry to retain and incentivize key leadership.

Comparison to Industry Standards

• The grant of restricted stock units to a director is a common compensation practice in the technology sector, comparable to how companies like Salesforce, Oracle, or SAP compensate their non-executive directors.
• The specific number of units granted would typically be benchmarked against peer group compensation data, though this document does not provide such comparative figures.
• The $0 acquisition price is standard for RSU grants, as they represent a form of equity compensation rather than a direct purchase.

Corporate Governance

Related Party Transactions

• Shares held by the Still Family Trust, where Mr. Still is a trustee and may be deemed to have voting and dispositive power.
• Shares held by Still Family Partners, LLC, where Mr. Still is manager and may be deemed to have voting and dispositive power.

Stakeholder Impact

• **Shareholders:** The grant of RSUs to a director aligns their interests with shareholders by tying a portion of their compensation to the company's stock performance.
• **Management:** Reinforces the commitment of a key director to the company's long-term success.

Next Steps

• The 1,530 restricted stock units are scheduled to vest on May 5, 2026, subject to the director's continued service.

Key Dates

Recommendation

Keywords

Workday, WDAY, SEC Form 4, Restricted Stock Units, RSU, Director Compensation, Insider Ownership, Equity Grant, Corporate Governance