Workday 10% Owner Files Form 144 Notice for $18.8M Share Sale
Workday, Inc.
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Filing Summary
Workday 10% Owner Files Form 144 Notice for $18.8M Share Sale
Company: Workday, Inc. (WDAY) Form: 144 | Filed: 2026/09/10 Significance: Low
Insider: David A. Duffield Trust Title: 10% Stockholder | Relationship: 10% Owner
Transaction: • Type: Planned Sale (Form 144) • Shares: 100,780 • Price: ~$186.05 • Value: $18,750,119.00
Key Insight: Routine scheduled disposition executed under a pre-established Rule 10b5-1 trading plan adopted on December 2, 2025.
Market Context: The proposed sale represents approximately 0.048% of Workday's $39.05B market cap and 0.041% of shares outstanding.
Comprehensive Analysis
SEC Filing Analysis: Workday, Inc. (WDAY)
Executive Summary
- Trading Significance: Low
- Key Takeaway: Co-founder and 10% stockholder David A. Duffield filed a Form 144 notice to sell 100,780 shares valued at approximately $18.75 million under a pre-established Rule 10b5-1 plan.
- Market Impact: Minimal expected impact due to routine 10b5-1 scheduling and low materiality relative to total market cap.
Company Information
| Field | Value |
|---|---|
| Company | Workday, Inc. |
| Ticker Symbol | WDAY |
| CIK | 0001327811 |
| Industry | Services-Computer Processing & Data Preparation |
Insider Information
| Field | Value |
|---|---|
| Name | David A. Duffield (David A. Duffield Trust) |
| CIK | 0000938071 |
| Title/Position | 10% Stockholder |
| Relationship | 10% Owner |
Transaction Details
| Field | Value |
|---|---|
| Form Type | 144 |
| Transaction Date | 2026-09-10 |
| Transaction Code | S (Planned Sale) |
| Security Type | Common Stock |
| Shares Involved | 100,780 |
| Price Per Share | ~$186.05 |
| Total Value | $18,750,119.00 |
| Shares Owned After | N/A (Form 144) |
| Ownership Type | Indirect (Trust) |
Financial Impact Assessment
Transaction Materiality
| Metric | Value |
|---|---|
| Transaction Value | $18,750,119.00 |
| % of Market Cap | 0.048% |
| Shares Transacted | 100,780 |
| % of Shares Outstanding | 0.041% |
| Materiality Assessment | Low |
Impact Evaluation
- Market Cap Context: Against Workday's large-cap valuation of $39.05 billion, an $18.75 million planned sale represents less than 0.05% of equity value.
- Ownership Concentration: While Duffield remains a substantial 10% shareholder, this planned sale represents routine liquidity under a trading schedule.
- Dilution Impact: None; the proposed transaction is a secondary market sale of existing shares.
Market Impact Analysis
Stock Impact Prediction
- Direction: Neutral
- Reasoning: The disposition follows standard periodic executions under a Rule 10b5-1 trading plan adopted on December 2, 2025, posing negligible supply pressure.
Volume & Sentiment
- Expected Volume Impact: Negligible volume impact across standard trading sessions.
- Sentiment Indicator: Neutral
Additional Context
Transaction Notes
- Timing: Planned sale date of September 10, 2026.
- Special Circumstances: Executed under a Rule 10b5-1 trading plan adopted on December 2, 2025.
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Important Disclaimer
This content is drawn from public SEC filings and may contain errors. It is for informational purposes only and is not investment, legal, or tax advice.
Nothing here is a recommendation to buy, sell, or hold any security. Do your own due diligence.