Co-founder and 10% stockholder David A. Duffield filed a Form 144 indicating intent to sell 107,500 shares of Workday common stock, valued at approximately $12.7 million based on the filing date. This is part of a recurring pre-arranged 10b5-1 trading plan with nearly identical monthly sales, signaling structural portfolio diversification rather than a change in business outlook.
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Executive Summary
Co-founder and 10% stockholder David A. Duffield filed a Form 144 indicating intent to sell 107,500 shares of Workday common stock, valued at approximately $12.7 million based on the filing date. This is part of a recurring pre-arranged 10b5-1 trading plan with nearly identical monthly sales, signaling structural portfolio diversification rather than a change in business outlook.
Key Facts
- Filer is David A. Duffield, Workday co-founder and >10% stockholder.
- Proposed sale of 107,500 shares at an estimated market value of $12,694,675.
- Sale is part of a 10b5-1 trading plan dated December 2, 2025.
- The trust's prior sales under the same plan were executed on 10 dates between March and June 2026, each for 107,500 shares, ranging from ~$12.08M to ~$16.84M per sale.
- The filing comes on the same day as a planned sale on June 25, 2026.
- Recent market data shows only 2 insider sells totaling $4.3 million in the prior 30 days; this single filing (~$12.7M) is substantially larger.
- Analyst consensus is 58% bullish (28 buy/10 strong buy vs 20 hold), representing a generally favorable view.
Financial Impact
Proposed sale of 107,500 shares valued at ~$12.7M; cumulative 10b5-1 sales in 2026 likely exceed $130M based on prior tranches.
Risk Factors
- A large 10b5-1 plan by a co-founder may continue to add ~10 bps of daily sell pressure during execution days.
- If the plan accelerates or expands beyond the established cadence, it could signal a more cautious view from the founder.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 144 Filing (Primary) | 0001950047-26-006506 |
| Document: 0001950047-26-006506-index.html | 0001950047-26-006506 |
| Document: 0001950047-26-006506.txt | 0001950047-26-006506 |
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%) |
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