SCHEDULE: Eminence Capital Discloses 7.1% Stake in Workiva Inc.

Eminence Capital, LP and Ricky C. Sandler have reported beneficial ownership of 7.1% of Workiva Inc.'s Class A Common Stock as of September 30, 2025.

Summary

• Eminence Capital, LP and Ricky C. Sandler are the reporting persons for this Schedule 13G/A filing.
• They beneficially own an aggregate of 3,723,546 shares of Workiva Inc.'s Class A Common Stock.
• This ownership represents 7.1% of the Class A Common Stock outstanding.
• The percentage is calculated based on 52,169,998 shares of Class A Common Stock outstanding as of July 25, 2025, as reported by Workiva Inc. in its Form 10-Q.
• Eminence Capital, LP serves as the investment adviser to various investment funds and separately managed accounts holding these shares.
• Ricky C. Sandler is the Chief Executive Officer of Eminence Capital and may be deemed to have shared voting and dispositive power over the shares.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of beneficial ownership and does not contain information that would inherently sway sentiment positively or negatively regarding the issuer's performance or prospects. The disclosure of a significant institutional stake is generally neutral to slightly positive.

Positives

• A significant institutional investor, Eminence Capital, LP, holds a 7.1% stake in Workiva Inc., which may be interpreted by some as a vote of confidence in the company's prospects.

Risks

• The reporting persons certified that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Workiva Inc., mitigating potential activist investor concerns.

Future Outlook

This filing is a disclosure of beneficial ownership and does not contain any forward-looking statements or guidance from Workiva Inc. or the reporting persons regarding the company's future performance.

Management Comments

• Ricky C. Sandler, on behalf of Eminence Capital, LP and individually, certified that the securities were acquired and are held in the ordinary course of business and not for the purpose of or with the effect of changing or influencing the control of Workiva Inc.

Industry Context

This filing primarily concerns institutional ownership disclosure rather than broader industry trends or competitive analysis. It indicates a significant investment by a prominent capital management firm in a technology company.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional investor holding 7.1% of Class A Common Stock may be viewed as a positive signal, indicating institutional confidence in Workiva Inc.

Key Dates

Keywords

Workiva Inc, Eminence Capital, Ricky C. Sandler, beneficial ownership, Schedule 13G, Class A Common Stock, institutional ownership, investment adviser