Form 4: Workday Executive Chair Aneel Bhusri Sells Shares to Cover Tax Obligations

Workday's Executive Chair, Aneel Bhusri, sold 8,041 shares of Class A Common Stock to cover tax obligations related to vesting restricted stock units.

Summary

• Aneel Bhusri, the Executive Chair of Workday, Inc., sold 8,041 shares of Class A Common Stock on January 5, 2025.
• The sale was executed at a price of $252.84 per share.
• This transaction was to cover tax obligations arising from the vesting of restricted stock units (RSUs).
• Following the transaction, Bhusri directly owns 554,687 shares of Class A Common Stock, which includes 166,260 restricted stock units.
• Bhusri also indirectly owns 5,000 shares of Class A Common Stock through a minor child.
• Bhusri also holds 8,126,443 shares of Class B Common Stock, which are convertible to Class A Common Stock.

Sentiment

Score: 6

Explanation: The document reflects a routine transaction for tax purposes, which is neither particularly positive nor negative. The sale is not indicative of a change in the executive's outlook on the company.

Risks

• Sales of shares by company executives can sometimes be perceived negatively by the market, although this sale was explicitly for tax obligations.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• Executive stock sales for tax purposes are a common practice across the tech industry, with similar transactions occurring at companies like Salesforce (CRM) and Oracle (ORCL).
• The number of shares sold is relatively small compared to the total holdings of Aneel Bhusri, which is typical for tax-related sales.
• The price of $252.84 per share is consistent with the market price of Workday stock at the time of the transaction.

Stakeholder Impact

• The sale of shares by a key executive could have a minor impact on investor sentiment, but the reason for the sale (tax obligations) is generally understood.

Key Dates

Keywords

Workday, Aneel Bhusri, stock sale, Form 4, executive chair, Class A Common Stock, Class B Common Stock, restricted stock units, tax obligations, insider trading