Workday 10% Owner David Duffield Files Form 144 to Sell $18.75M in Common Stock

Overview

On October 9, 2026, David A. Duffield filed a Form 144 notice proposing the sale of 99,835 shares of Workday, Inc. (NASDAQ: WDAY) common stock through the David A. Duffield Trust U/T/A 7/14/88. The aggregate market value of the proposed disposition is approximately $18,750,011.35, implying an average price per share of roughly $187.81.

Transaction & Trading Plan Details

• Acquisition Origin: The shares were originally acquired on December 27, 2007, directly from the issuer via a private placement transaction for cash.
• Rule 10b5-1 Trading Plan: The proposed sale is executed pursuant to a pre-arranged Rule 10b5-1 trading plan established on December 2, 2025.
• Historical Sales: The filing notes an established pattern of ongoing dispositions under the 10b5-1 plan, with nine previous sales occurring across September and early October 2026, each generally ranging between 90,000 and 101,000 shares for proceeds between $17.9M and $19.1M.

Market Impact & Context

With 196,000,000 shares outstanding, this proposed sale represents approximately 0.05% of Workday's outstanding common stock. Because the transaction follows a regular schedule outlined in a long-standing Rule 10b5-1 plan, it represents planned diversification by the company's co-founder and 10% owner rather than an ad-hoc discretionary trade based on near-term business conditions.