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

Workday's Chief Accounting Officer, Mark S. Garfield, sold 1,585 shares of Class A Common Stock for $113.05 per share as part of a pre-arranged trading plan.

Summary

• Mark S. Garfield, Chief Accounting Officer at Workday, Inc., sold 1,585 shares of Class A Common Stock.
• The transaction occurred on April 10, 2026, with a sale price of $113.05 per share.
• This sale was executed under a Rule 10b5-1 trading plan adopted on October 14, 2025.
• Following the sale, Garfield beneficially owns 31,467 shares of Class A Common Stock.
• This ownership includes 25,474 restricted stock units (RSUs) that are subject to vesting based on continued service.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. The sale was conducted under a pre-arranged 10b5-1 plan, indicating it was planned in advance and not necessarily a reaction to current company performance. However, any insider selling can introduce a slight negative perception.

Negatives

• Company executive sold a portion of their stock holdings.

Risks

• The sale of shares by a key executive could be perceived negatively by the market, potentially impacting investor sentiment.
• While executed under a 10b5-1 plan, the sale reduces the executive's direct stake in the company.

Future Outlook

The filing does not contain forward-looking statements or guidance regarding future financial performance. It solely reports a past transaction.

Industry Context

StockSavvy.ai notes that insider sales, particularly when conducted under pre-established 10b5-1 plans, are common and often reflect personal financial planning rather than a negative view of the company's prospects. However, the market often scrutinizes such transactions for any indication of management's confidence.

Stakeholder Impact

• Shareholders: May perceive the sale as a slight negative signal, though mitigated by the 10b5-1 plan. The impact on share price is likely minimal unless part of a larger trend.
• Employees: The sale by a senior executive does not directly impact employee stock options or grants, but may influence morale if perceived as a lack of confidence.
• Management: The transaction is a routine part of personal financial management for executives and does not indicate a change in management strategy.

Next Steps

• The reporting person will continue to hold the remaining 31,467 shares, including 25,474 RSUs, subject to vesting conditions.

Key Dates

Keywords

Workday, WDAY, Form 4, Insider Trading, Stock Sale, Rule 10b5-1, Mark S. Garfield, Chief Accounting Officer, Class A Common Stock, Restricted Stock Units