WDAY.NASDAQWorkday, INC

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

Sentiment:

SEC Form 4 Filing

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Richard Harry Sauer, Workday's Chief Legal Officer, sold shares of Class A Common Stock under a pre-arranged 10b5-1 trading plan.

Summary

  • Richard Harry Sauer, the Chief Legal Officer & Secretary of Workday, Inc., sold shares of Class A Common Stock on October 8, 2024.
  • The sales were executed under a Rule 10b5-1 trading plan adopted on June 7, 2023.
  • A total of 1,070 shares were sold at a weighted average price of $235.3302, with prices ranging from $234.73 to $235.7299.
  • An additional 2,064 shares were sold at a weighted average price of $236.014, with prices ranging from $235.73 to $236.7299.
  • Following these transactions, Sauer beneficially owns 85,795 shares of Class A Common Stock, which includes 75,061 restricted stock units (RSUs).

Sentiment

Score: 5

Explanation: The document is a routine SEC filing regarding stock sales by an executive, which is neither particularly positive nor negative.

Industry Context

Sales by company insiders are a common occurrence and are often pre-planned to avoid accusations of insider trading. The use of a 10b5-1 trading plan allows insiders to sell shares at predetermined times and prices.

Stakeholder Impact

  • The stock sales may have a minor impact on shareholders, potentially creating slight downward pressure on the stock price in the short term.

Key Dates

DateDescription
June 7, 2023Date of adoption of the Rule 10b5-1 trading plan.
October 8, 2024Date of the stock sale transactions.
October 10, 2024Date of signature on the Form 4 filing.

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