Form 4: Workiva Director Sells Shares Under 10b5-1 Plan

Workiva Inc. Director David S. Mulcahy reported the sale of 808 shares of Class A Common Stock for approximately $92.01 per share.

Summary

• David S. Mulcahy, a Director of Workiva Inc. (WK), sold 808 shares of Class A Common Stock.
• The transaction occurred on November 26, 2025.
• The shares were sold at a weighted-average price of $92.01 per share, with prices ranging from $92.00 to $92.04.
• Following this transaction, Mulcahy beneficially owns 241,535 shares of Class A Common Stock.
• The sale was conducted pursuant to a Rule 10b5-1(c) pre-arranged trading plan.

Sentiment

Score: 5

Explanation: The sentiment is neutral as this is a routine, pre-planned insider sale under a 10b5-1 plan, which is typically for personal liquidity management and does not reflect a change in the company's fundamental outlook.

Positives

• The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-scheduled sale rather than a reaction to recent company performance or new information.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• The sale of a relatively small number of shares by a director under a pre-arranged plan is unlikely to have a significant impact on shareholders, employees, customers, suppliers, or creditors.

Key Dates

Recommendation

The sale of 808 shares by a director, while notable, is a relatively small transaction and was executed under a Rule 10b5-1 plan. This suggests a pre-scheduled liquidity event rather than a reaction to new material information. As such, it does not provide a strong signal to alter an investment thesis, warranting a 'hold' recommendation for existing positions.

Keywords

Workiva, WK, Insider Sale, Form 4, Director Transaction, Stock Sale, 10b5-1 Plan