Form 4: Workday Executive Sells Shares Under Pre-Arranged Trading Plan

Workday's President of Product and Technology, Sayan Chakraborty, sold a portion of his Class A Common Stock holdings under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Sayan Chakraborty, President of Product and Technology at Workday, Inc., sold shares of Class A Common Stock on November 29, 2024.
• The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on October 4, 2023.
• A total of 5,498 shares were sold in multiple transactions at varying weighted average prices.
• The prices ranged from $248.9693 to $254.06 per share.
• Following the transactions, Mr. Chakraborty directly owns 121,100 shares of Class A Common Stock and indirectly owns 9,716 shares through a living trust.
• He also holds 120,476 Restricted Stock Units (RSUs) that will convert to shares upon vesting.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of a pre-planned stock sale by an executive. It doesn't indicate any positive or negative sentiment about the company's performance.

Risks

• Executive stock sales can sometimes be perceived negatively by the market, although these sales were pre-planned.

Industry Context

Executive stock sales are a common occurrence in publicly traded companies, often executed under pre-arranged trading plans to avoid accusations of insider trading. This filing is a routine disclosure of such activity.

Comparison to Industry Standards

• The use of Rule 10b5-1 trading plans is a standard practice among executives at publicly traded companies like Workday, similar to practices at companies such as Salesforce (CRM) and Oracle (ORCL).
• The reported sales are within the typical range of executive stock transactions, and the disclosure is consistent with SEC requirements.
• The weighted average price reporting is also standard practice for multiple transactions within a single day, similar to how other companies report executive sales.

Stakeholder Impact

• The stock sales may have a minor impact on the share price, but the pre-planned nature of the transactions should mitigate any significant negative reaction from shareholders.

Key Dates

Keywords

Workday, Sayan Chakraborty, stock sale, Rule 10b5-1, executive, insider trading, Class A Common Stock, RSU