While the proposed sale is modest, the pattern of repeated insider selling by a co-founder warrants monitoring for further dispositions. Track next Form 4 filings and any insider transactions ahead of Q3 earnings.
Price Chart
Executive Summary
Co-founder and 10% stockholder Matthew Rizai filed Form 144 to sell 30,000 shares (~$1.7M) of Workiva common stock. This follows two recent sales totaling ~140,000 shares (~$7M) in the past month, continuing a pattern of insider selling by a key insider.
Key Facts
- Matthew Rizai, co-founder and 10% stockholder, intends to sell 30,000 shares of common stock.
- Estimated aggregate market value of proposed sale: $1,697,901 (~$56.60/share).
- Rizai has sold 140,204 shares (~$7M) in the prior month (120,000 on July 1, 2026 and 20,204 on June 17, 2026).
- Beneficial ownership reported: 2,077,058 shares (pre-sale), representing ~4% of outstanding shares.
- Sale is being executed through Merrill Lynch as broker.
Financial Impact
Proposed sale of 30,000 shares at ~$1.7M represents 0.05% of market cap and ~1.4% of Rizai's holdings. Prior month sales of ~$7M bring total recent insider selling to ~$8.7M.
Risk Factors
- Co-founder selling may signal personal diversification but could be misinterpreted as lack of confidence.
- Further acceleration of insider sales could pressure stock sentiment.
- No explicit reason for sale provided in filing (routine estate planning or tax-related).
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 144 Filing (WK) — Batch item 1 | 0001628280-26-048532 |
| Document: 0001628280-26-048532-index.html | 0001628280-26-048532 |
| Document: 0001628280-26-048532.txt | 0001628280-26-048532 |
| 144 Filing (WK) — Batch item 4 | 0001628280-26-048532 |
| Document: 0001628280-26-048532-index.html | 0001628280-26-048532 |
| Document: 0001628280-26-048532.txt | 0001628280-26-048532 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 11d ago | Institutional Cluster | $77.21 | awaiting T+20 | — | $86.51 (+12.05%) |
Aug 5, 2026 11w ago | 144 | $62.05 $78.59 | ▲ +26.66% | ▲ +26.06% | $86.51 (+39.42%) |
Jul 16, 2026 14w ago | 144 | $57.18 $70.51 | ▲ +23.31% | ▲ +18.87% | $86.51 (+51.29%) |
Jun 17, 2026 18w ago | 144 | $47.37 $56.97 | ▲ +20.27% | ▲ +19.73% | $86.51 (+82.63%) |
Jun 11, 2026 19w ago | Institutional Cluster | $49.13 $52.33 | ▲ +6.51% | ▲ +4.62% | $86.51 (+76.08%) |
Jun 3, 2026 20w ago | 3 | $49.05 $51.93 | ▲ +5.87% | ▲ +7.24% | $86.51 (+76.37%) |
Jun 2, 2026 20w ago | 8-K | $49.84 $51.93 | ▲ +4.19% | ▲ +5.19% | $86.51 (+73.58%) |
May 5, 2026 24w ago | 8-K | $51.53 $49.84 | ▼ −3.28% | ▼ −6.06% | $86.51 (+67.88%) |
Apr 17, 2026 27w ago | DEFA14A | $57.34 $45.39 | ▼ −20.84% | ▼ −26.21% | $86.51 (+50.87%) |
US Market Status
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