[Form 4] Workday, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Pitney Bowes Inc. (NYSE: PBI) – Form 144 filed for proposed insider sale

The notice, dated 07/14/2025, covers a planned sale of 5,000 common shares with an aggregate market value of $55,050. The transaction will be executed through Morgan Stanley Smith Barney on the NYSE. The shares equal roughly 0.003 % of Pitney Bowes’ 181,253,371 shares outstanding.

All shares were acquired as restricted stock units on 02/09/2021. The filer—identified in prior 10b5-1 disclosures as Lauren Thomas Defina—has already sold 4,000 shares over the last three months:

• 2,000 shares on 07/03/2025 for $23,000
• 2,000 shares on 06/26/2025 for $22,000

The signer certifies no knowledge of undisclosed adverse information and, if relying on Rule 10b5-1, affirms an existing trading plan. Given the modest size relative to float, the sale is expected to have minimal impact on liquidity or fundamentals, though investors may note the continuation of insider selling activity.

Positive

• None.

Negative

• Continued insider selling: the filer has sold or plans to sell 9,000 shares within three months, which some investors may view as a weak confidence signal despite the small size.

Insights

Securities Analyst

TL;DR: 5k-share Form 144 is routine; dollar value <0.01 % of market cap, limited impact.

The filing reveals a proposed $55k sale (≈0.003 % of outstanding shares) by RSU holder Lauren Thomas Defina. Coupled with 4k shares sold in June–July under a 10b5-1 plan, insider disposals total 9k shares. The transaction does not alter Pitney Bowes’ capital structure or signal operational issues—the form expressly states no undisclosed adverse information. From an equity-market perspective, the volume is immaterial and should not pressure the stock. The event remains noteworthy only for those monitoring insider sentiment.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Garfield Mark S.

(Last) (First) (Middle)

C/O WORKDAY, INC.

6110 STONERIDGE MALL ROAD

(Street)

PLEASANTON CA 94588

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Workday, Inc. [ WDAY ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/10/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	07/10/2025		S(1)		451	D	$234.86(2)	42,977(3)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan previously adopted by the Reporting Person dated October 12, 2024.

2. The price reported is a weighted average price. These shares were sold in multiple transactions at prices within the range of $234.86 to $235.8599, 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 set forth in this footnote of this Form 4.

3. Includes 41,560 restricted stock units (RSUs), each of which entitle the Reporting Person to receive one share of Class A Common Stock upon settlement. All grants are subject to the Reporting Person's continued service with the Issuer on the applicable vesting dates.

Remarks:

	/s/ Juliana Capata, attorney-in-fact	07/14/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many Pitney Bowes (PBI) shares are covered by this Form 144?

The notice covers 5,000 common shares.

What is the aggregate market value of the planned sale?

The filing lists an aggregate value of $55,050 for the 5,000 shares.

When is the approximate date of sale for the PBI shares?

The shares are expected to be sold on 07/14/2025.

Which broker will execute the transaction?

The sale will be handled by Morgan Stanley Smith Barney LLC.

How many shares has the same insider sold recently?

She previously sold 4,000 shares (2,000 on 07/03/2025 and 2,000 on 06/26/2025).

What percentage of Pitney Bowes’ outstanding shares does the 5,000-share sale represent?

It represents roughly 0.003 % of the 181,253,371 shares outstanding.

What type of shares are being sold and when were they acquired?

They are restricted stock units acquired on 02/09/2021.