Workday Co-Founder David Duffield Files Form 144 to Sell $18.75M in Stock
Workday, Inc.
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Filing Summary
# Workday, Inc. (NASDAQ: WDAY) - Form 144 Notice
**Insider:** David A. Duffield (DAVID A. DUFFIELD TRUST U/T/A 7/14/88)
**Role:** 10% Stockholder / Co-Founder
**Filing Date:** October 6, 2026
### Transaction Summary
* **Proposed Sale:** 99,228 shares of Common Stock
* **Estimated Market Value:** $18,750,122.88 (~$188.96/share)
* **Trading Plan:** Executed under Rule 10b5-1 trading plan adopted December 2, 2025
* **Broker:** Morgan Stanley Smith Barney LLC
* **Trading Significance:** Medium (routine programmatic disposition under 10b5-1)
Comprehensive Analysis
Overview
On October 6, 2026, Workday, Inc. (NASDAQ: WDAY) 10% stockholder and co-founder David A. Duffield, via the DAVID A. DUFFIELD TRUST U/T/A 7/14/88, filed a Form 144 notice disclosing the intended sale of 99,228 shares of Common Stock with an estimated aggregate market value of $18,750,122.88 (approximately $188.96 per share).
Context & Trading Plan
- 10b5-1 Plan Adoption: The proposed disposition is executed pursuant to a pre-established Rule 10b5-1 trading plan adopted on December 2, 2025.
- Origin of Securities: The shares to be sold were originally acquired via a private placement directly from the issuer on December 27, 2007.
- Recent Selling Activity: Over the preceding three months, the trust has executed regular, programmatic sales of similar size (~90,000 to ~107,000 shares per tranche) on a bi-weekly to weekly cadence across September and early October 2026, generating more than $160 million in gross proceeds during that period.
Market Impact & Significance
While the dollar value of the proposed transaction is substantial ($18.75 million), its execution under an established 10b5-1 trading plan adopted nearly ten months earlier indicates routine diversification and estate planning rather than a reaction to near-term fundamental developments. Consequently, this filing carries a Medium market significance.
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Important Disclaimer
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