Duffield trust trades Workday (WDAY) stock in 107,500-share 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Workday, Inc. insider David A. Duffield, through the David A. Duffield Trust, reported both sales and a share conversion on Class A and Class B Common Stock. On June 17, 2026, the trust sold a total of 107,500 shares of Class A Common Stock in multiple open-market transactions at weighted-average prices ranging from about $121.57 to $128.6599, under a pre-arranged Rule 10b5-1 trading plan.
On the same date, the trust converted 107,500 shares of Class B Common Stock into Class A Common Stock. After these transactions, the trust held 212,549 shares of Class A Common Stock and 36,991,334 shares of Class B Common Stock, all reported as directly owned by the trust of which Duffield is trustee and sole beneficiary.
Positive
- None.
Negative
- None.
Insights
Duffield trust executes planned 107,500-share sale plus matching Class B to A conversion.
The David A. Duffield Trust sold 107,500 Workday Class A shares on June 17, 2026 via multiple open-market trades, at weighted-average prices between about $121.57 and $128.6599. All sales were made under a previously adopted Rule 10b5-1 trading plan, signaling a pre-planned diversification step rather than an opportunistic trade.
The trust also converted 107,500 Class B shares into Class A, leaving post-transaction holdings of 212,549 Class A and 36,991,334 Class B shares directly owned by the trust. Given the very large remaining position and the pre-planned nature of the trades, this filing looks like routine portfolio management with limited directional signal for investors.
Insider Trade Summary 10b5-1
Net Seller: 107,500 shares ($13,436,122)
Net Sell
9 txns
Insider
DUFFIELD DAVID A
Role
null
Sold
107,500 shs ($13.44M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class B Common Stock | 107,500 | $0.00 | -- |
| Conversion | Class A Common Stock | 107,500 | $0.00 | -- |
| Sale | Class A Common Stock | 20,317 | $121.9553 | $2.48M |
| Sale | Class A Common Stock | 11,478 | $123.0793 | $1.41M |
| Sale | Class A Common Stock | 8,100 | $124.1531 | $1.01M |
| Sale | Class A Common Stock | 17,156 | $125.1819 | $2.15M |
| Sale | Class A Common Stock | 27,209 | $126.341 | $3.44M |
| Sale | Class A Common Stock | 20,675 | $127.0421 | $2.63M |
| Sale | Class A Common Stock | 2,565 | $127.9467 | $328K |
Holdings After Transaction:
Class B Common Stock — 36,991,334 shares (Direct, null);
Class A Common Stock — 212,549 shares (Direct, null)
Footnotes (1)
- The reported shares are held by the David A. Duffield Trust dated July 14, 1988, a revocable living trust, of which the Reporting Person is trustee and sole beneficiary. This sale was effected pursuant to a Rule 10b5-1 trading plan previously adopted by the David A. Duffield Trust dated December 2, 2025. The price reported is a weighted average price. These shares were sold in multiple transactions at prices within the range of $121.57 to $122.5699, inclusive. The Reporting Person undertakes to provide to Workday, Inc., any security holder of Workday, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range(s) set forth in this footnote of this Form 4. The price reported is a weighted average price. These shares were sold in multiple transactions at prices within the range of $122.57 to $123.5699, inclusive. The Reporting Person undertakes to provide to Workday, Inc., any security holder of Workday, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range(s) set forth in this footnote of this Form 4. The price reported is a weighted average price. These shares were sold in multiple transactions at prices within the range of $123.63 to $124.6299, inclusive. The Reporting Person undertakes to provide to Workday, Inc., any security holder of Workday, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range(s) set forth in this footnote of this Form 4. The price reported is a weighted average price. These shares were sold in multiple transactions at prices within the range of $124.63 to $125.6299, inclusive. The Reporting Person undertakes to provide to Workday, Inc., any security holder of Workday, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range(s) set forth in this footnote of this Form 4. The price reported is a weighted average price. These shares were sold in multiple transactions at prices within the range of $125.64 to $126.6399, inclusive. The Reporting Person undertakes to provide to Workday, Inc., any security holder of Workday, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range(s) set forth in this footnote of this Form 4. The price reported is a weighted average price. These shares were sold in multiple transactions at prices within the range of $126.64 to $127.6399, inclusive. The Reporting Person undertakes to provide to Workday, Inc., any security holder of Workday, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range(s) set forth in this footnote of this Form 4. The price reported is a weighted average price. These shares were sold in multiple transactions at prices within the range of $127.66 to $128.6599, inclusive. The Reporting Person undertakes to provide to Workday, Inc., any security holder of Workday, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range(s) set forth in this footnote of this Form 4. All shares of Class A and Class B Common Stock will convert automatically into shares of a single class of Common Stock upon the earliest to occur of the following: (a) upon the election by the holders of a majority of the then outstanding shares of Class B Common Stock, (b) the date when the number of outstanding shares of Class B Common Stock represents less than 9% of all outstanding shares of Class A and Class B Common Stock, (c) October 11, 2032 or (d) nine months after the death of the later to die of David A. Duffield and Aneel Bhusri. The shares of Class A and Class B Common Stock have no expiration date. Each share of Class B Common Stock is convertible, at any time at the option of the holder, into one (1) share of Class A Common Stock. In addition, each share of Class B Common Stock will convert automatically into one (1) share of Class A Common Stock upon any transfer, whether or not for value, except for certain permitted transfers described in, and transfers to any "permitted transferee" as defined in, the Issuer's restated certificate of incorporation in effect as of the date hereof. The shares of Class B Common Stock have no expiration date.
Key Figures
Shares sold: 107,500 shares
Sale price range: $121.57–$128.6599 per share
Shares converted: 107,500 shares
+4 more
7 metrics
Shares sold
107,500 shares
Total Class A shares sold on June 17, 2026
Sale price range
$121.57–$128.6599 per share
Weighted-average price ranges from footnotes F3–F9
Shares converted
107,500 shares
Class B shares converted into Class A on June 17, 2026
Class A holdings after
212,549 shares
Class A Common Stock directly held post-transaction
Class B holdings after
36,991,334 shares
Class B Common Stock directly held post-transaction
10b5-1 plan reference date
December 2, 2025
Adoption date of Duffield trust’s Rule 10b5-1 trading plan
Automatic conversion date
October 11, 2032
One trigger date for automatic single-class conversion
Key Terms
Rule 10b5-1 trading plan, revocable living trust, Class B Common Stock, automatic conversion, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"This sale was effected pursuant to a Rule 10b5-1 trading plan previously adopted by the David A. Duffield Trust"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
revocable living trust financial
"a revocable living trust, of which the Reporting Person is trustee and sole beneficiary"
Class B Common Stock financial
"Each share of Class B Common Stock is convertible, at any time at the option of the holder"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
automatic conversion regulatory
"will convert automatically into shares of a single class of Common Stock upon the earliest to occur of the following"
permitted transferee regulatory
"transfers to any "permitted transferee" as defined in, the Issuer's restated certificate of incorporation"
FAQ
What did David A. Duffield report in this Workday (WDAY) Form 4?
The filing shows the David A. Duffield Trust sold 107,500 shares of Workday Class A Common Stock and converted 107,500 Class B shares into Class A on June 17, 2026, while retaining large Class A and Class B holdings afterward.
Was the Workday (WDAY) insider sale by the Duffield trust pre-planned?
Yes. A footnote states the sale was effected under a Rule 10b5-1 trading plan previously adopted by the David A. Duffield Trust. Such plans pre-schedule trades, indicating routine diversification rather than discretionary, opportunistic selling based on short-term market views.