Form 4: Workiva Inc. Executive Ziegler Sells Shares to Cover Tax Obligations

Brandon Ziegler, EVP, CLO, CAO & Corp Secretary of Workiva Inc., sold shares to cover withholding taxes related to vesting restricted stock units.

Summary

• On September 1, 2024, Brandon Ziegler, an executive at Workiva Inc., disposed of 2,859 shares of Class A Common Stock.
• The shares were sold at a price of $78.17 per share.
• This transaction was to cover withholding taxes due upon the vesting of restricted stock units previously granted.
• Following the transaction, Ziegler directly owns 87,301 shares of Workiva Inc.

Sentiment

Score: 5

Explanation: This is a routine transaction related to tax obligations, so the sentiment is neutral.

Industry Context

Executive stock sales for tax purposes are a common occurrence, especially after vesting of restricted stock units. This is a normal part of executive compensation and financial planning.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units (RSUs) that vest over time.
• Upon vesting, these RSUs are subject to income tax, and executives often sell a portion of the shares to cover the tax obligations.
• This practice is common across various industries and companies, including those comparable to Workiva Inc.

Stakeholder Impact

• The sale of shares by an executive could have a minor impact on shareholders, but it is generally considered a normal part of executive compensation.

Key Dates