Workday (WDAY) 10% Owner David Duffield Sells Shares

What Happened
David A. Duffield (reported as a 10% owner) converted 107,500 derivative/Class B shares into common stock and then sold those 107,500 shares in multiple open‑market transactions on July 9, 2026. The sales were executed at a variety of prices (weighted‑average prices reported by lot) and generated aggregate proceeds of approximately $14,699,057. Transaction codes shown in the filing: C = conversion of a derivative security; S = sale.

Key Details

• Transaction date: July 9, 2026 (Form 4 filed July 13, 2026). Filing appears timely.
• Shares converted: 107,500 shares (conversion entries at $0.00).
• Shares sold: 107,500 shares in multiple open‑market sales at prices ranging roughly from $130.43 up to $139.98 (various weighted averages reported by lot). Total reported proceeds ≈ $14.7M.
• Ownership after transaction: not specified in the provided excerpt of the filing.
• Notable footnotes: sales were executed by the David A. Duffield Trust (trust dated July 14, 1988); at least one sale was effected under a pre‑arranged Rule 10b5‑1 trading plan (trust plan adopted Dec 2, 2025); multiple weighted‑average price footnotes detail the price ranges and the filer offers to provide per‑price breakdowns on request. Footnotes also explain conversion/convertibility rules for Class A/B shares.
• Transaction types: conversion of derivative securities (C) followed by open‑market sales (S).

Context

• As a 10% owner (not an officer trading on inside knowledge), these transactions are typically viewed as personal or estate/trust portfolio management rather than direct signals about company operations.
• The presence of a 10b5‑1 plan indicates pre‑arranged automated sales, which can reduce concerns the trades were based on undisclosed inside information.
• Conversions of Class B/derivative shares into common stock are structural actions; here the converted shares were immediately sold rather than retained.