Form 4: Workday's David Duffield Sells Shares Under 10b5-1 Trading Plan

David Duffield, a director at Workday, Inc., executed multiple sales of Class A Common Stock 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.
• The transactions involved the sale of Class A Common Stock on June 21, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on December 4, 2023.
• A total of 3,200 shares were sold directly at a weighted average price of $216.8773.
• Additionally, 15,305 shares were sold indirectly through the Dave and Cheryl Duffield Foundation at a weighted average price of $217.7669.
• Another 20,421 shares were sold indirectly through the Dave and Cheryl Duffield Foundation at a weighted average price of $218.7747.
• A further 17,074 shares were sold indirectly through the Dave and Cheryl Duffield Foundation at a weighted average price of $219.3896.
• Following these transactions, Duffield directly owns 102,997 shares and indirectly owns 730,000 shares through the Dave and Cheryl Duffield Foundation.
• Duffield also indirectly owns 43,520,908 shares of Class B Common Stock which are convertible into Class A Common Stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports transactions under a pre-existing trading plan. It doesn't necessarily indicate a positive or negative outlook for the company.

Industry Context

Form 4 filings are a routine part of insider trading activity and are closely watched by investors for signals about management's view of the company's prospects; however, sales under a 10b5-1 plan are pre-arranged and may not reflect current sentiment.

Key Dates