Workday President Gerrit Kazmaier Disposes of Shares for Tax Obligations and via 10b5-1 Plan

Executive Summary

On October 7, 2026, Workday, Inc. ($WDAY) filed a Form 4 disclosing dispositions of Class A Common Stock by Gerrit S Kazmaier, President of Products and Technology. Between October 5 and October 6, 2026, Mr. Kazmaier disposed of an aggregate of 11,705 shares for total proceeds of approximately $2.18 million, leaving him with 251,314 shares directly held.

Transaction Breakdown

• Tax Withholding (Code F): On October 5, 2026, 8,976 shares were withheld by the issuer at $186.14 per share ($1,670,792.64 total) to cover tax withholding obligations associated with the vesting of restricted stock units (RSUs).
• Open Market Sales (Code S): On October 6, 2026, an aggregate of 2,729 shares were sold across five tranches at prices ranging from $184.85 to $189.49 per share, generating $511,080.38 in proceeds. These sales were executed pursuant to a pre-established Rule 10b5-1 trading plan adopted on September 19, 2025.

Holdings Context & Significance

• Post-Transaction Beneficial Ownership: 251,314 shares, of which 228,556 represent unvested RSUs subject to continued service.
• Significance Assessment: Low. The majority of the shares (76.7%) were automatically withheld to satisfy statutory tax obligations on vesting equity. The remaining dispositions were executed pursuant to a scheduled Rule 10b5-1 plan established over a year prior, representing routine personal liquidity and portfolio management rather than a discretionary market signal.