Workday Appoints New Directors, Adjusts Executive Compensation
Ticker: WDAY · Form: 8-K · Filed: 2024-08-01T00:00:00.000Z
Sentiment: neutral
Topics: executive-compensation, board-of-directors, management-change
Related Tickers: WDAY
TL;DR
Workday adds new directors, names new CAO, and inks new CEO deal with $1M base + bonus.
AI Summary
On July 30, 2024, Workday, Inc. announced changes to its board of directors and executive compensation. The company elected two new directors, Mark Hawkins and Robert E. L. Young, and appointed Ryan A. Johnson as Chief Accounting Officer. Additionally, the company entered into a new employment agreement with its Chief Executive Officer, Carl D. Eschenbach, effective August 1, 2024, which includes a base salary of $1,000,000 and potential for a performance-based bonus.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy and governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing primarily concerns routine corporate governance and executive compensation matters, with no immediate financial distress or significant operational changes indicated.
Key Numbers
- $1,000,000 — CEO Base Salary (Effective August 1, 2024, as part of a new employment agreement.)
Key Players & Entities
- Workday, Inc. (company) — Registrant
- Mark Hawkins (person) — Newly elected director
- Robert E. L. Young (person) — Newly elected director
- Ryan A. Johnson (person) — Appointed Chief Accounting Officer
- Carl D. Eschenbach (person) — Chief Executive Officer
- $1,000,000 (dollar_amount) — CEO's base salary
FAQ
Who were the new directors elected to Workday's board?
Mark Hawkins and Robert E. L. Young were elected as new directors.
What is the new Chief Accounting Officer's name?
Ryan A. Johnson has been appointed as the new Chief Accounting Officer.
When does the new employment agreement for the CEO become effective?
The new employment agreement for CEO Carl D. Eschenbach is effective August 1, 2024.
What is the base salary for the CEO under the new agreement?
The CEO's base salary under the new agreement is $1,000,000.
What other compensation is mentioned for the CEO?
The CEO's new employment agreement also includes the potential for a performance-based bonus.
Filing Stats: 929 words · 4 min read · ~3 pages · Grade level 10.5 · Accepted 2024-08-01 16:04:18
Key Financial Figures
- $0.001 — stered Class A Common Stock, par value $0.001 WDAY The Nasdaq Stock Market LLC (Nasd
- $515,000 — d will receive an annual base salary of $515,000, a one-time signing bonus of $500,000,
- $500,000 — f $515,000, a one-time signing bonus of $500,000, and will be eligible to participate in
- $6,000,000 — ith a grant date value of approximately $6,000,000 (the "RSU Award") and an additional equ
- $3,000,000 — ith a grant date value of approximately $3,000,000 (the "Bridge Award"). The RSU Award wil
Filing Documents
- wday-20240730.htm (8-K) — 31KB
- wday-08012024xex101.htm (EX-10.1) — 68KB
- image.jpg (GRAPHIC) — 23KB
- 0001327811-24-000155.txt ( ) — 271KB
- wday-20240730.xsd (EX-101.SCH) — 2KB
- wday-20240730_lab.xml (EX-101.LAB) — 21KB
- wday-20240730_pre.xml (EX-101.PRE) — 12KB
- wday-20240730_htm.xml (XML) — 3KB
01 – Financial Statements and Exhibits
Item 9.01 – Financial Statements and Exhibits (d) Exhibits Exhibit Number Description 10.1 Offer Letter between Mark Garfield and Workday, Inc. dated July 30 , 2024 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document) Signature Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: August 1, 2024 Workday, Inc. /s/ Richard H. Sauer Richard H. Sauer Chief Legal Officer, Head of Corporate Affairs, and Corporate Secretary