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

Workday's President of Production and Technology, Gerrit S. Kazmaier, reported transactions involving Class A Common Stock, including share withholdings for taxes and a sale executed under a pre-arranged trading plan.

Summary

• Gerrit S. Kazmaier, President of Production and Technology at Workday, Inc., engaged in stock transactions on April 5th and April 7th, 2026.
• On April 5th, 12,270 shares of Class A Common Stock were withheld by the issuer to cover tax obligations related to the vesting of restricted stock units (RSUs). The value of these shares was $132.26 each.
• Following this transaction, Kazmaier beneficially owned 174,430 shares, which includes 161,956 RSUs.
• On April 7th, 9,356 shares of Class A Common Stock were sold at a price of $128.39 per share.
• These sales were conducted under a Rule 10b5-1 trading plan that was adopted by Kazmaier on September 19, 2025.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, as it represents routine executive stock transactions executed under a pre-defined plan, with no indication of significant positive or negative company performance.

Positives

• The withholding of shares for tax purposes is a standard procedure upon RSU vesting and indicates that the executive is meeting their tax obligations.
• The sale of shares was executed under a pre-established Rule 10b5-1 trading plan, which is designed to provide an affirmative defense against allegations of insider trading by ensuring transactions are not based on material non-public information.

Negatives

• The sale of 9,356 shares represents a reduction in the executive's direct holdings.
• The sale price of $128.39 is lower than the implied value of the shares withheld for tax purposes ($132.26).

Risks

• While the sale was made under a 10b5-1 plan, any significant future sales by executives could be interpreted negatively by the market.
• The vesting of RSUs and subsequent tax withholding implies a potential future cash outflow for the executive, though this is a common compensation event.

Future Outlook

The filing does not contain forward-looking statements or guidance. It solely reports on past transactions.

Industry Context

StockSavvy.ai notes that Form 4 filings are routine disclosures for executives and directors. The use of a Rule 10b5-1 plan by Workday's President of Production and Technology is a common and accepted practice for managing stock sales in a manner that mitigates insider trading concerns, especially within the technology sector where executive compensation often includes significant equity components.

Stakeholder Impact

• Shareholders: The sale of shares by an executive, even under a 10b5-1 plan, can sometimes lead to short-term market perception shifts, though the plan's existence aims to mitigate this.
• Employees: The transaction relates to executive compensation (RSUs) and does not directly impact general employee compensation or benefits.
• Management: The transaction reflects standard executive compensation and tax management practices.

Next Steps

• Continued monitoring of Gerrit S. Kazmaier's beneficial ownership and any future transactions.
• Observation of Workday's overall stock performance and executive compensation practices.

Key Dates

Keywords

Workday, WDAY, Form 4, Insider Trading, Rule 10b5-1, Stock Sale, Restricted Stock Units, RSU Vesting, Executive Compensation, Beneficial Ownership, Gerrit S. Kazmaier