Form 4: Workday Director Sells WDAY Shares Under 10b5-1 Plan

Workday Director Michael M. McNamara sold 5,393 shares of Class A Common Stock on October 10, 2025, under a Rule 10b5-1 trading plan.

Summary

• Michael M. McNamara, a Director at Workday, Inc., reported the sale of 5,393 shares of Class A Common Stock.
• The transactions occurred on October 10, 2025, at weighted average prices ranging from $233.337 to $239.4675 per share.
• These sales were executed pursuant to a pre-arranged Rule 10b5-1 trading plan.
• Following these transactions, McNamara directly owns 24,078 shares of Class A Common Stock, which includes 1,578 restricted stock units (RSUs).
• He also indirectly owns 1,000 shares of Class A Common Stock through The McNamara Family Trust.

Sentiment

Score: 5

Explanation: The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, which typically indicates a planned diversification or liquidity event rather than a reaction to new material non-public information, thus having a neutral impact on sentiment.

Positives

• The sales were executed pursuant to a Rule 10b5-1 trading plan, indicating a pre-scheduled transaction rather than a reaction to immediate market conditions or undisclosed information.

Negatives

• Insider selling, even under a 10b5-1 plan, reduces the director's direct equity stake in the company.

Stakeholder Impact

• Shareholders may note a reduction in a director's direct equity stake, though the pre-arranged nature of the sale mitigates concerns about insider sentiment.

Key Dates

Recommendation

This Form 4 reports a routine insider sale executed under a Rule 10b5-1 trading plan. Such pre-scheduled transactions are generally not indicative of a change in the company's fundamental outlook or the insider's long-term confidence, and therefore do not warrant a change in investment recommendation based solely on this filing.

Keywords

Workday, WDAY, Insider Trading, Form 4, Stock Sale, Director, 10b5-1 Plan