'Workday' Co-Founder Sells Additional Stake

Workday, Inc. (WDAY) co-founder David Duffield converted Class B common stock into Class A common stock in three transactions on June 1, 4 and 9, then sold approximately 300,000 shares sequentially in the market under a 10b5-1 plan.

He disposed of shares at prices ranging from about $135 to $158 per share, securing proceeds of roughly $31 million (about ₩430 billion) in the June 4 and 9 trades alone.

Although these sales reduced the trust’s direct Class A holdings to around 100,000 shares, when considering the additional common equity and voting interests held through the same trust, Duffield’s economic stake in Workday remains substantial.

Workday has experienced increased share-price volatility after a federal judge ruled that a California class-action lawsuit alleging discrimination against individuals with disabilities by the company’s AI-based HR software will proceed.

At this month’s annual shareholder meeting, management’s proposals—including director elections and an equity-incentive plan—were approved, while shareholder proposals requesting disclosure on workforce and diversity matters were rejected, bringing governance and ESG issues into focus.

Founded in 2005 by David Duffield and Aneel Bhusri following Oracle’s acquisition of PeopleSoft, Workday is a cloud-based provider of human capital and financial management software, generating fiscal-2026 revenues of approximately $9.5 billion (around ₩13 trillion).

A PeopleSoft founder, Duffield holds the title of CEO emeritus at Workday and actively supports educational and animal-welfare causes through U.S. universities and pet-welfare foundations.