No actionable trading signal — this is the 11th monthly-equivalent tranche of Duffield's standing 10b5-1 plan. The trust's systematic selling (~107.5K shares every ~week) is fully pre-arranged and unrelated to current business conditions. Monitor for any deviation from this cadence (bigger size, plan amendment, or termination), which would be a true signal. The 10b5-1 plan expiration is not disclosed; as long as sales stay at this pattern, ignore.
Price Chart
Executive Summary
David A. Duffield, Workday's founder and a 10% stockholder, filed a Form 144 to sell 107,500 shares (~$12.6M at filing) via the David A. Duffield Trust. The trust has been executing a pre-arranged 10b5-1 plan, with identical 107,500-share sales occurring regularly since March 2026 — this filing represents one more tranche of that systematic program. The plan-based, consistent pattern neutralizes any signaling value; this is a routine liquidity event, not an opportunistic insider sale.
Key Facts
- Reporting owner: David A. Duffield (founder, 10% stockholder)
- Proposed sale: 107,500 shares of common stock
- Approximate dollar value: $12,569,975
- Shares outstanding referenced: ~201,000,000
- Broker: Morgan Stanley Smith Barney LLC Executive Financial Services
- Prior identical sales of 107,500 shares each on 3/23, 3/26, 3/31, 4/6, 4/9, 6/1, 6/4, 6/9, 6/12, and 6/17/2026 — all under the same 10b5-1 plan
- Since 3/23/2026, the trust has already sold ~1.075M shares (10 tranches × 107,500) worth ~$145M
- Sale is being made pursuant to a 10b5-1 plan adopted 12/02/2025
Financial Impact
$12.6M proposed sale; $145M+ already sold since March 2026 under the same 10b5-1 plan
Risk Factors
- If Duffield abruptly sells outside the 10b5-1 plan or materially increases volumes, it would signal a change in intent
- The 10b5-1 plan was adopted 12/02/2025 — if the plan is near exhaustion, remaining overhang could be material (Duffield still holds a large stake)
- High dollar volume of prior sales (~$145M in ~3 months) could weigh on sentiment if retail / algos misinterpret it as 'insider distribution'
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 144 Filing (Primary) | 0001950047-26-006371 |
| Document: 0001950047-26-006371-index.html | 0001950047-26-006371 |
| Document: 0001950047-26-006371.txt | 0001950047-26-006371 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 27, 2026 5w ago | Press Release | $204.72 $188.60 | ▼ −7.87% | ▼ −8.13% | $186.14 (−9.08%) |
Jul 14, 2026 11w ago | Insider Cluster | $141.82 $175.29 | ▲ +23.60% | ▲ +21.26% | $186.14 (+31.25%) |
Jul 13, 2026 11w ago | Insider Cluster | $144.87 $184.19 | ▲ +27.14% | ▲ +23.96% | $186.14 (+28.49%) |
Jul 7, 2026 12w ago | Insider Cluster | $137.88 $170.64 | ▲ +23.76% | ▲ +20.48% | $186.14 (+35.00%) |
Jul 7, 2026 12w ago | Insider Cluster | $143.65 $165.05 | ▲ +14.90% | ▲ +13.57% | $186.14 (+29.58%) |
Jun 25, 2026 14w ago | 144 | $124.21 $127.87 | ▲ +2.95% | ▲ +1.69% | $186.14 (+49.86%) |
Jun 22, 2026 14w ago | 144 | $115.13 $147.22 | ▲ +27.87% | ▲ +26.71% | $186.14 (+61.68%) |
Jun 13, 2026 15w ago | Institutional Cluster | $129.60 $144.87 | ▼ −11.78% | ▼ −12.53% | $186.14 (−43.63%) |
Jun 12, 2026 15w ago | 144 | $129.60 $144.87 | ▲ +11.78% | ▲ +12.53% | $186.14 (+43.63%) |
Jun 9, 2026 16w ago | 144 | $137.47 $138.34 | ▲ +0.63% | ▼ −2.99% | $186.14 (+35.40%) |
US Market Status
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