Workday Co-Founder David Duffield Sells $18.6M in Class A Stock Under Rule 10b5-1 Plan

Insider Transaction Overview

On October 6, 2026, Workday co-founder and 10% beneficial owner David A. Duffield executed a series of open-market sales totaling 99,228 shares of Workday, Inc. ($WDAY) Class A Common Stock, yielding gross proceeds of approximately $18.59 million.

Transaction Breakdown

• Conversion: Converted 99,228 shares of Class B Common Stock to Class A Common Stock on a 1:1 basis.
• Sales: The converted Class A shares were sold across six tranches at prices ranging between $184.12 and $190.18 per share:
  • 2,800 shares @ $184.8036
  • 10,284 shares @ $185.8604
  • 45,984 shares @ $186.6572
  • 10,054 shares @ $187.7663
  • 19,534 shares @ $188.6438
  • 10,572 shares @ $189.3929
• Weighted Average Sale Price: ~$187.32 per share.

Context and Ownership Impact

• 10b5-1 Plan: The sales were executed under a pre-established Rule 10b5-1 trading plan adopted on December 2, 2025.
• Remaining Holdings: Following the transaction, Mr. Duffield holds 105,049 shares of Class A Common Stock and retains 35,580,586 shares of Class B Common Stock through the David A. Duffield Trust.
• Significance: Although the dollar amount is significant ($18.6M), the sale represents less than 0.3% of his overall equity position, indicating routine diversification rather than a directional signal.