Sauer Richard Harry 4

What Happened
Richard (Rick) Sauer, Chief Legal Officer & Secretary of Workday, was awarded 4,132 performance stock units (PSUs) on February 26, 2026. The filing shows an acquisition of 4,132 shares at $0.00 (award value reported as $0 on Form 4). These PSUs were certified by the Compensation Committee based on performance for the Feb 1, 2025–Jan 31, 2026 period and were originally part of a PSU grant dated April 21, 2025. The PSUs will vest in full on April 5, 2028, subject to his continued service with the company.

Key Details

• Transaction date and price: 2026-02-26; 4,132 shares acquired at $0.00 (award/grant).
• Holdings reported: filing references 62,742 restricted stock units (RSUs) plus 4,132 PSUs that each convert to one share on settlement (66,874 total units reflected in the footnote).
• Grant/vesting terms: PSUs certified for the Feb 1, 2025–Jan 31, 2026 performance period; PSUs vest April 5, 2028, contingent on continuous service.
• Source and plan: Award under Workday’s 2022 Equity Incentive Plan and related PSU award agreement.
• Filing timeliness: No indication in the filing that this report was late.

Context
This is an equity award (not an open-market purchase or sale). PSUs are performance-contingent and do not represent immediately tradable shares — they convert to shares only upon settlement/vesting and subject to continued employment. Awards like this are routine for executive compensation and are recorded at $0 on Form 4 because they are grants rather than cash purchases.