Form 4: Workiva Director Robert Herz Reports Change in Beneficial Ownership

Robert Herz, a director at Workiva Inc., reported a change in beneficial ownership of Class A Common Stock on February 23, 2024, involving a withdrawal and exchange of shares with the Robert H. Herz Irrevocable Trust.

Summary

• On February 23, 2024, Robert H. Herz, a director of Workiva Inc., engaged in transactions involving Class A Common Stock.
• Mr. Herz withdrew 11,793 shares from the Robert H. Herz Irrevocable Trust in exchange for a promissory note.
• He also exchanged 12,500 shares with the trust on a one-for-one basis without additional consideration.
• These transactions did not change the final amount of Class A Common Stock owned by Mr. Herz and the trust.
• Following the reported transactions, Mr. Herz directly owns 35,444 shares and indirectly owns 43,109 shares through the trust.
• The price used for the transactions was $86.05, reflecting the average of the high and low price of Workiva's Class A Common Stock on the New York Stock Exchange on February 23, 2024.
• Mr. Herz believes these exchanges represent a change in the form of beneficial ownership, exempt under Rule 16a-13 of the Securities Exchange Act of 1934.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't convey any particularly positive or negative sentiment.

Management Comments

• Mr. Herz believes that each of these exchanges constitutes a change in the form of beneficial ownership of the shares, exempt under Rule 16a-13 of the Securities Exchange Act of 1934.

Industry Context

This filing is a routine disclosure of stock transactions by a company insider, as required by the Securities and Exchange Act. It provides transparency into the trading activities of company directors.

Related Party Transactions

• The transactions involve the Robert H. Herz Irrevocable Trust, which is a related party to Robert H. Herz.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they primarily represent a change in the form of beneficial ownership.

Key Dates