Form 4: Workday's David Duffield Executes Stock Sales Under 10b5-1 Plan
SEC Form 4 Filing
David Duffield, a director at Workday, Inc., executed multiple sales of Class A Common Stock on March 1, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- David Duffield, a director at Workday, Inc., filed a Form 4 disclosing changes in beneficial ownership.
- On March 1, 2024, Duffield sold shares of Class A Common Stock through a series of transactions executed under a Rule 10b5-1 trading plan.
- A total of 59,391 shares were sold at prices ranging from $290.0406 to $295.93.
- These sales reduced Duffield's direct holdings of Class A Common Stock from 162,388 to 102,997 shares.
- Duffield also indirectly owns 1,124,000 shares through the Dave and Cheryl Duffield Foundation.
- He also holds 43,880,923 shares of Class B Common Stock, which are convertible into Class A Common Stock.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to stock sales by an insider under a pre-arranged trading plan, so it's neutral in sentiment.
Industry Context
Sales by insiders are a common occurrence, and the use of 10b5-1 plans allows insiders to sell shares over time while avoiding accusations of trading on inside information.
Stakeholder Impact
- The stock sales could have a minor impact on shareholders due to the increased supply of shares in the market, but the 10b5-1 plan suggests the sales are orderly and pre-planned.
Key Dates
| Date | Description |
|---|---|
| 1988-07-14 | Date of the David A. Duffield Trust. |
| 2023-12-04 | Date of adoption of the Rule 10b5-1 trading plan by the David A. Duffield Trust, the Cheryl D. Duffield Trust, and the Dave & Cheryl Duffield Foundation. |
| 2024-03-01 | Date of the stock sales. |
| 2024-03-05 | Date of signature of the Form 4 filing. |
| 2032-10-11 | One of the dates when all shares of Class A and Class B Common Stock will convert automatically into shares of a single class of Common Stock. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.