WK Form 144: Matthew Rizai plans to sell 40,000 shares ($3.50M)

Rhea-AI Filing Summary

Workiva Inc. insider Matthew M. Rizai notified a proposed sale of 40,000 common shares through Morgan Stanley Smith Barney LLC with an aggregate market value of $3,499,992.00, to be sold approximately on 10/03/2025 on the NYSE. The filing states the shares were acquired on 10/03/2025 by a stock option exercise and paid for in cash. The notice also discloses prior sales by the same person in the past three months: 50,000 shares sold on 08/01/2025 for $3,882,500.00 and 100,000 shares sold on 07/14/2025 for $6,714,000.00. The filer represents they are not aware of any undisclosed material adverse information about the issuer.

Positive

• None.

Negative

• Proposed sale of 40,000 shares by an insider scheduled for 10/03/2025
• Insider sold 150,000 shares in the prior three months (100,000 on 07/14/2025 and 50,000 on 08/01/2025)

Insights

Insider Transactions Analyst

Insider sold newly exercised options and previously sold 150,000 shares in 2 months.

What it means: The filing shows a proposed sale of 40,000 shares acquired by a stock option exercise on the same date and paid in cash, which is a routine liquidity event for option holders.

Why it matters: The same insider sold 100,000 and 50,000 shares on 07/14/2025 and 08/01/2025, respectively, totaling 150,000 shares previously; aggregated insider sales at this scale are material to shareholders monitoring insider trading activity.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	40000	3499992.00	56015581	10/03/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	10/03/2025	Stock Option Exercise	Issuer			40000	10/03/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Matthew M Rizai 2900 University Blvd. Ames IA 50010	Common	08/01/2025	50000	3882500.00
Matthew M Rizai 2900 University Blvd. Ames IA 50010	Common	07/14/2025	100000	6714000.00

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Workiva (WK) Form 144 filed by Matthew M. Rizai disclose?

The filing discloses a proposed sale of 40,000 common shares valued at $3,499,992.00 to be sold on or about 10/03/2025 through Morgan Stanley Smith Barney LLC on the NYSE.

How were the 40,000 shares acquired according to the filing?

The shares were acquired on 10/03/2025 via a stock option exercise and payment was made in cash on the same date.

Has Matthew M. Rizai recently sold other Workiva shares?

Yes. The filing lists sales of 100,000 shares on 07/14/2025 for $6,714,000.00 and 50,000 shares on 08/01/2025 for $3,882,500.00.

Through which broker will the proposed sale be executed?

The proposed sale lists Morgan Stanley Smith Barney LLC, 1 New York Plaza, 8th Floor, New York, NY 10004 as the broker.

Does the filer claim possession of any undisclosed material information?

The filer represents, by signing the notice, that they do not know any material adverse information about the issuer that has not been publicly disclosed.

On which exchange will the shares be sold?

The filing specifies the NYSE as the securities exchange for the proposed sale.