Form 4: Workiva CEO Julie Iskow Reports Stock Transactions Following PSU Vesting

Julie Iskow, President & CEO of Workiva Inc., reports acquisition and disposal of Class A Common Stock related to performance-based restricted stock units (PSUs) vesting, along with shares withheld for tax obligations.

Summary

• On February 20, 2025, Julie Iskow, President & CEO of Workiva Inc., reported transactions involving Workiva's Class A Common Stock.
• These transactions are related to the vesting of performance-based restricted stock units (PSUs) granted on February 1, 2022, February 1, 2023 and February 1, 2024.
• The PSUs vested based on the Compensation Committee's certification of performance conditions for the 2022-2024 and 2023-2024 performance periods at 65% and 121.2% of target respectively, and for the 2024 performance period at 186.2% of target.
• A total of 2,093, 9,796 and 19,524 shares were acquired as a result of the PSU vesting.
• Additionally, 16,918 shares were disposed of at a price of $86.55 to cover withholding taxes due upon vesting.
• Following these transactions, Iskow directly owns 370,298 shares of Workiva Class A Common Stock.

Sentiment

Score: 7

Explanation: The document reflects positive performance leading to PSU vesting, but also includes disposal of shares for tax purposes. Overall, it's a neutral to slightly positive signal.

Positives

• The vesting of PSUs indicates that performance targets were met, suggesting positive performance by the company.
• The CEO's continued employment is required for additional PSU vesting, aligning her interests with the company's long-term success.

Negatives

• The disposal of shares to cover withholding taxes, while a standard practice, slightly reduces the CEO's holdings in the company.

Risks

• Future PSU vesting is contingent on continued employment and achievement of annual revenue growth rate goals, which may not be guaranteed.

Future Outlook

Additional PSUs will vest following the completion of the remaining calendar years in the three-year performance period, subject to continued employment and achievement of applicable annual revenue growth rate goals.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It reflects the alignment of executive incentives with company performance.

Comparison to Industry Standards

• Performance-based equity compensation is a common practice among publicly traded companies to incentivize executives and align their interests with shareholder value.
• The vesting of PSUs based on performance metrics such as revenue growth is a standard approach to ensure that executives are rewarded for achieving specific company goals.
• Companies like Salesforce, Adobe, and Intuit also utilize similar performance-based equity compensation plans for their executives.

Stakeholder Impact

• Shareholders may view the PSU vesting as a positive sign, indicating that the company is achieving its performance goals.
• Employees may be motivated by the fact that executive compensation is tied to company performance.

Key Dates

Keywords

Workiva, Julie Iskow, Form 4, PSU, Stock, Vesting, CEO, Securities