Form 4: Workday's Chief Accounting Officer Sells Shares Under 10b5-1 Trading Plan

Mark S. Garfield, Workday's Chief Accounting Officer, sold 497 shares of Class A Common Stock at an average price of $226.55 on April 10, 2025, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On April 10, 2025, Mark S. Garfield, the Chief Accounting Officer of Workday, Inc., sold 497 shares of Class A Common Stock.
• The sale was executed at a weighted average price of $226.55 per share, with individual transactions ranging from $226.55 to $227.5499.
• The transaction was conducted under a Rule 10b5-1 trading plan adopted on October 12, 2024.
• Following the transaction, Garfield directly owns 34,385 shares of Workday Class A Common Stock, which includes 33,418 restricted stock units (RSUs).

Sentiment

Score: 5

Explanation: Neutral sentiment as it's a routine disclosure of an insider stock sale under a pre-arranged trading plan.

Industry Context

This is a routine disclosure of an insider stock sale, which is common among executives of publicly traded companies. The use of a 10b5-1 trading plan suggests the sale was pre-planned and not based on any inside information.

Comparison to Industry Standards

• Insider sales are a common occurrence in publicly traded companies, and the legality of such sales is determined by adherence to SEC regulations, particularly Rule 10b5-1.
• Companies like Salesforce (CRM) and Oracle (ORCL) also see regular Form 4 filings from their executives, indicating similar trading activities.
• The volume and frequency of these sales are generally compared to historical patterns and industry benchmarks to assess any unusual activity.

Stakeholder Impact

• The sale of shares by a company executive can sometimes be perceived negatively by shareholders, but the existence of a 10b5-1 plan mitigates concerns about insider information being used for personal gain.

Key Dates

Keywords

Workday, Garfield, insider trading, Form 4, Rule 10b5-1, Chief Accounting Officer, stock sale, securities