Form 4: Workday Director George J. Still Jr. Sells Shares Under 10b5-1 Trading Plan

George J. Still Jr., a director at Workday, Inc., sold shares of Class A Common Stock on September 5, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On September 5, 2024, George J. Still Jr., a director of Workday, Inc., executed multiple sales of Class A Common Stock.
• The sales were conducted under a Rule 10b5-1 trading plan adopted by the Still Family Trust on October 5, 2023.
• A total of 8,100 shares were sold at weighted average prices ranging from $253.7658 to $256.6929.
• Following the reported transactions, Mr. Still directly owns 44,247 shares of Class A Common Stock.
• The Still Family Trust holds 90,000 shares of Class A Common Stock after the sales.
• Mr. Still disclaims beneficial ownership of the shares held by the Still Family Trust except to the extent of his pecuniary interest.
• Mr. Still also indirectly owns 120,784 shares of Class A Common Stock through Still Family Partners.
• Mr. Still also holds 2,118 restricted stock units (RSUs), each of which entitle the Reporting Person to receive one share of Class A Common Stock upon settlement.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports stock sales under a pre-arranged trading plan, which is a common practice.

Industry Context

Insider trading activity is closely monitored by investors as it can provide insights into management's perspective on the company's prospects. Sales under 10b5-1 plans are generally viewed as less informative since they are pre-arranged.

Comparison to Industry Standards

• Comparing George J. Still Jr.'s transactions to other directors in similar SaaS companies like Salesforce (CRM) or Adobe (ADBE) would require analyzing their Form 4 filings for similar sales patterns.
• The use of a 10b5-1 trading plan is a common practice among corporate insiders to avoid accusations of trading on non-public information, aligning with industry standards for compliance and transparency.
• The size of the transactions, involving several thousand shares, is typical for directors in large-cap companies, but the impact on the stock price would depend on overall market conditions and investor sentiment.

Stakeholder Impact

• The stock sales could have a minor impact on shareholder sentiment, but the pre-arranged nature of the sales mitigates concerns about insider information.

Key Dates