Form 4: Workday Director George J. Still Jr. Sells 7,500 Shares Under Pre-Arranged Trading Plan

Workday, Inc. Director George J. Still Jr. reported the sale of 7,500 shares of Class A Common Stock for approximately $1.86 million through a Rule 10b5-1 trading plan on June 5, 2025.

Summary

• George J. Still Jr., a Director of Workday, Inc. (WDAY), reported the sale of 7,500 shares of the company's Class A Common Stock.
• The sales occurred on June 5, 2025, and were executed through a Rule 10b5-1 trading plan adopted by the Still Family Trust on October 5, 2023.
• The shares were sold in three separate transactions at weighted average prices: 4,733 shares at $247.8982, 2,067 shares at $249.0579, and 700 shares at $249.9943.
• The estimated total proceeds from these sales amount to approximately $1,862,900.
• Following these transactions, Mr. Still's beneficial ownership includes 45,777 direct shares (including 1,530 restricted stock units), 67,500 shares held indirectly by the Still Family Trust, and 74,784 shares held indirectly by Still Family Partners, LLC.

Sentiment

Score: 5

Explanation: The sentiment is neutral as this is a routine insider transaction under a pre-arranged 10b5-1 plan, which typically does not convey new positive or negative information about the company's performance.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a scheduled transaction rather than a reaction to new, negative information.

Negatives

• Insider selling, even under a 10b5-1 plan, can sometimes be perceived negatively by the market as it reduces the insider's direct stake in the company.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding Workday, Inc.'s future outlook.

Management Comments

• The filing was signed by Juliana Capata, attorney-in-fact for George J. Still Jr.

Industry Context

This Form 4 filing is a routine disclosure of an insider stock transaction and does not provide information relevant to broader industry trends or competitive analysis for the enterprise software or human capital management (HCM) industry in which Workday operates.

Comparison to Industry Standards

• This document is a standard insider trading disclosure (Form 4) and does not contain information that allows for a comparison of Workday's financial or operational results to global industry benchmarks or specific comparable companies/projects.

Related Party Transactions

• George J. Still Jr. disclaims beneficial ownership of shares held by the Still Family Trust and Still Family Partners, LLC, except to the extent of his pecuniary interest, despite having voting and dispositive power as a trustee/manager.

Stakeholder Impact

• Shareholders may note the reduction in a director's indirect holdings, although the transaction was pre-planned under a 10b5-1 agreement.

Next Steps

• The document does not mention any specific future actions, events, or milestones for Workday, Inc. or the reporting person beyond the reported transaction.

Key Dates

Keywords

Workday, WDAY, SEC Form 4, Insider Trading, Stock Sale, George J. Still Jr., Rule 10b5-1, Beneficial Ownership, Director