Workday 10% Owner Files Form 144 to Sell $18.75M in Common Stock
Workday, Inc.
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Filing Summary
Workday 10% Owner Files Form 144 to Sell $18.75M in Common Stock
Company: Workday, Inc. (WDAY) Form: 144 | Filed: 2026/09/15 Significance: Low
Insider: David A. Duffield (David A. Duffield Trust U/T/A 7/14/88) Relationship: 10% Stockholder / Co-Founder
Transaction: • Type: Proposed Sale (Form 144) • Shares: 96,545 • Price: ~$194.21 • Value: $18,750,004.45
Key Insight: Routine programmatic disposition under a pre-established Rule 10b5-1 trading plan adopted on December 2, 2025.
Market Context: Represents approximately 0.048% of Workday's $39.05B market capitalization, reflecting standard portfolio diversification by the co-founder's trust.
Comprehensive Analysis
SEC Filing Analysis: Workday, Inc. (WDAY)
Executive Summary
- Trading Significance: Low
- Key Takeaway: Co-founder trust filed a proposed sale of 96,545 shares (~$18.75M) under a pre-scheduled Rule 10b5-1 plan.
- Market Impact: Minimal expected market impact given transaction size relative to total market capitalization.
Company Information
| Field | Value |
|---|---|
| Company | Workday, Inc. |
| Ticker Symbol | WDAY |
| CIK | 0001327811 |
| Industry | Services-Computer Processing & Data Preparation |
Insider Information
| Field | Value |
|---|---|
| Name | DUFFIELD DAVID A (David A. Duffield Trust U/T/A 7/14/88) |
| CIK | 0000938071 |
| Title/Position | Co-Founder |
| Relationship | 10% Stockholder |
Transaction Details
| Field | Value |
|---|---|
| Form Type | 144 |
| Transaction Date | 2026-09-15 |
| Transaction Code | S (Proposed Sale) |
| Security Type | Common Stock |
| Shares Involved | 96,545 |
| Price Per Share | ~$194.21 |
| Total Value | $18,750,004.45 |
| Ownership Type | Indirect (Trust) |
Financial Impact Assessment
Transaction Materiality
| Metric | Value |
|---|---|
| Transaction Value | $18,750,004.45 |
| % of Market Cap | 0.048% |
| Shares Transacted | 96,545 |
| % of Shares Outstanding | 0.039% |
| Materiality Assessment | Low |
Impact Evaluation
- Market Cap Context: Against Workday's $39.05 billion market capitalization, this $18.75M planned sale accounts for under 0.05% of equity value.
- Ownership Concentration: The trust continues to hold significant founding equity, with regular tranche sales over recent quarters.
- Dilution Impact: None; this is a secondary market disposition of existing shares.
Market Impact Analysis
- Direction: Neutral
- Reasoning: Executed pursuant to an established 10b5-1 trading plan adopted on December 2, 2025, representing routine diversification rather than a discretionary market-timing signal.
- Expected Volume Impact: Negligible relative to typical daily trading volume.
- Sentiment Indicator: Neutral
Additional Context
- Special Circumstances: Notice filed for sales conducted through Morgan Stanley Smith Barney LLC under a Rule 10b5-1 trading plan.
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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.