Workday, Inc. (WDAY)

Current Report Filed: 2026-04-24

Workday reduced the equity award exclusion period from 12 months to 3 months for severance eligibility, making it easier for terminated executives to receive accelerated equity benefits and potentially signaling more competitive retention practices.
The policy amendment improves cash severance calculations by guaranteeing prior-year bonus payouts at 100% performance achievement and adding pro-rata target bonus payments for termination year, representing enhanced severance obligations that could increase future exit costs.
These amendments to the Executive Severance and Change in Control Policy suggest Workday is adjusting compensation structure to remain competitive in talent retention, though the changes increase potential liabilities for executive departures or change-of-control scenarios.

Insider Trading Filed: 2026-04-14

The reporting person, Mark S. Garfield, is the Chief Accounting Officer of Workday, Inc. and sold 1,585 shares of Class A Common Stock on April 10, 2026 at a price of $113.05 per share.
The sale was executed pursuant to a previously adopted 10b5-1 trading plan, indicating it was part of a pre-planned strategy rather than a discretionary transaction.
Garfield still holds 31,467 shares of Class A Common Stock, including 25,474 restricted stock units that have not yet vested, suggesting he maintains a significant ownership stake in the company.

Insider Trading Filed: 2026-04-13

David A. Duffield, a 10% owner and director of Workday, Inc. (WDAY), converted 107,500 Class B shares into Class A shares and sold a total of 103,800 Class A shares on April 9, 2026.
The sales were made pursuant to a Rule 10b5-1 trading plan previously adopted by the David A. Duffield Trust, suggesting pre-planned transactions rather than ad-hoc selling.
The reported transactions represent a reduction of approximately 48.5% in Duffield's direct beneficial ownership of Workday's Class A common stock.

Insider Trading Filed: 2026-04-07

David A. Duffield, a 10% owner and director of Workday, Inc. (WDAY), has filed a Form 4 indicating a transaction involving the company's Class A and Class B common stock.
Duffield converted 107,500 shares of Class B common stock into an equal number of Class A common stock, likely for liquidity purposes.
Duffield also sold a total of 107,500 shares of Class A common stock through multiple transactions at weighted average prices ranging from $128.97 to $132.01 per share, reducing his direct beneficial ownership to 105,049 shares.

Insider Trading Filed: 2026-04-07

Zane Rowe, the Chief Financial Officer of Workday, Inc. (WDAY), executed several transactions involving the company's Class A common stock on April 5 and 7, 2026.
Rowe sold a total of 5,000 shares of Class A common stock at weighted average prices ranging from $127.70 to $129.26 per share, reducing his direct beneficial ownership to 217,930 shares.
Prior to the sales, Rowe held 223,930 shares, including 147,584 restricted stock units (RSUs) and 5,968 performance stock units (PSUs), all of which are subject to continued service vesting.

Insider Trading Filed: 2026-04-07

The reporting person, Robert Enslin, is the President and Chief Commercial Officer of Workday, Inc. and engaged in insider selling of Workday's Class A common stock.
Enslin sold a total of 5,373 shares of Workday Class A common stock on April 5 and April 6, 2026 at weighted average prices of $132.26 and $129.69, respectively.
The insider selling was executed pursuant to a pre-existing Rule 10b5-1 trading plan, indicating a planned and potentially routine nature of the transactions.

Insider Trading Filed: 2026-04-07

Richard Harry Sauer, the Chief Legal Officer and Secretary of Workday, Inc., disposed of 7,051 Class A common shares on April 5, 2026 to satisfy tax withholding obligations related to the vesting of restricted stock units (RSUs) and performance stock units (PSUs).
Sauer continues to hold 82,479 shares, including 48,525 RSUs and 4,132 PSUs, indicating ongoing ownership and alignment with shareholder interests.
The transaction appears to be a routine tax-related share disposition and not an indication of a significant change in Sauer's ownership or his outlook on the company.

Insider Trading Filed: 2026-04-07

Aneel Bhusri, the CEO of Workday, Inc., has disposed of 16,470 shares of Class A common stock through a Form 4 filing, likely to cover tax withholding obligations related to the vesting of restricted stock units.
Bhusri still holds a significant stake in Workday, with over 1 million shares of Class A common stock and over 8 million shares of Class B common stock, indicating his continued commitment to the company.
The filing also discloses that Bhusri has performance-based restricted stock units (PVUs) that are subject to the achievement of certain stock price targets over a five-year period, providing long-term incentives aligned with shareholder interests.

Insider Trading Filed: 2026-04-07

Insider Mark S. Garfield, the Chief Accounting Officer of Workday, Inc. (WDAY), disposed of 2,284 Class A common shares on 04/05/2026 at $132.26 per share, likely to cover tax withholding obligations related to the vesting of restricted stock units.
Garfield continues to hold 33,052 Class A common shares, including 25,474 unvested restricted stock units that will vest over time, indicating his ongoing commitment to the company.
The transaction appears routine and in line with expected insider sell-to-cover activities, suggesting no significant change in Garfield's ownership or confidence in Workday.

Insider Trading Filed: 2026-04-07

The reporting person, Gerrit S. Kazmaier, who is the President of Product and Technology at Workday, Inc., reported selling 9,356 shares of the company's Class A common stock on April 7, 2026 for $128.39 per share.
The reporting person also had 161,956 restricted stock units (RSUs) that entitled him to receive one share of Class A common stock upon settlement, indicating his continued equity ownership in the company.
The sale of shares was executed pursuant to a previously adopted Rule 10b5-1 trading plan, suggesting a planned and disciplined approach to his stock transactions.

Insider Trading Filed: 2026-03-25

Insider David A. Duffield, who owns 10% of Workday, executed a planned sale of 107,500 Class A shares on March 23, 2026 at an average price of $136.36.
Duffield continues to hold a substantial position of 37,958,834 Class A and B shares, indicating his long-term commitment to the company.
The sale appears to be part of a pre-arranged 10b5-1 trading plan, suggesting the transactions were not made on the basis of material non-public information.

Important Information