The sale is part of a pre-arranged 10b5-1 plan adopted nearly 10 months ago, reducing its signaling value. However, the cumulative pace of Duffield's sales (~$145M in ~3 months) is notable for a co-founder/10% holder. Monitor for any acceleration beyond the plan's disclosed schedule or for other insiders filing 144s outside of 10b5-1 plans.
Price Chart
Executive Summary
David A. Duffield, Workday's co-founder and 10% stockholder, filed a Form 144 on September 18, 2026, indicating intent to sell 94,089 shares of common stock with an estimated aggregate market value of approximately $18.75 million. The filing references a 10b5-1 trading plan, and recent sales under the same plan from June through September 2026 total over 900,000 shares, suggesting a systematic, pre-planned divestiture rather than a reactive insider move.
Key Facts
- David A. Duffield (co-founder, 10% stockholder) filed Form 144 to sell 94,089 shares of Workday common stock.
- Estimated aggregate market value of the proposed sale is approximately $18.75 million.
- The filing references a 10b5-1 trading plan adopted on December 2, 2025.
- Recent 10b5-1 plan sales from June 22 through September 15, 2026, total approximately 913,001 shares with aggregate proceeds of roughly $145 million.
- The filing is an advance notice of intent to sell; the sale may or may not be executed.
Financial Impact
Proposed sale of 94,089 shares valued at ~$18.75 million; cumulative 10b5-1 sales since June 2026 exceed $145 million.
Risk Factors
- Insider selling by a co-founder and top holder may weigh on sentiment despite the 10b5-1 plan.
- If the company's fundamentals weaken or guidance disappoints, the selling could be viewed as opportunistic.
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 144 Filing (Primary) | 0001950047-26-009666 |
| Document: 0001950047-26-009666-index.html | 0001950047-26-009666 |
| Document: 0001950047-26-009666.txt | 0001950047-26-009666 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 4d ago | 8-K | $208.50 $205.46 | ▼ −1.46% | ▼ −2.02% | $205.46 (−1.46%) |
Oct 22, 2026 5d ago | 424B5 | $209.99 $208.50 | ▼ −0.71% | ▼ −1.42% | $205.46 (−2.16%) |
Oct 21, 2026 6d ago | Press Release | $209.99 $209.99 | · 0.00% | ▲ +0.52% | $205.46 (−2.16%) |
Oct 21, 2026 6d ago | 424B5 | $202.96 $209.99 | ▲ +3.46% | ▲ +4.64% | $205.46 (+1.23%) |
Oct 20, 2026 7d ago | Institutional Cluster | $202.96 $209.99 | ▲ +3.46% | ▲ +4.64% | $205.46 (+1.23%) |
Oct 14, 2026 13d ago | Insider Cluster | $196.63 $190.81 | ▲ +2.96% | ▲ +1.85% | $205.46 (−4.49%) |
Oct 13, 2026 14d ago | 8-K | $186.02 $188.77 | ▲ +1.48% | ▲ +2.56% | $205.46 (+10.45%) |
Oct 13, 2026 14d ago | Press Release | $186.02 $188.77 | ▲ +1.48% | ▲ +2.56% | $205.46 (+10.45%) |
Oct 9, 2026 18d ago | 144 | $188.25 $186.02 | ▼ −1.18% | ▼ −1.17% | $205.46 (+9.14%) |
Oct 6, 2026 21d ago | 144 | $184.26 $187.81 | ▲ +1.93% | ▲ +2.35% | $205.46 (+11.51%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers