Workday, Inc. (WDAY) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that Workday, Inc. surfaced in its latest filing.

• In July 2025, Workday identified and remediated an issue impacting reporting from high-volume data sources in the tenants of certain customers that may have yielded incomplete queries without displaying an error message.July 2025
• In February 2026, Aneel Bhusri assumed the role of CEO and Carl Eschenbach ceased to serve as CEO.February 2026
• Workday is defending a lawsuit alleging that certain AI-related products and services enable discrimination.
• In August 2025, Workday was targeted as part of a social engineering campaign against many large organizations, resulting in unauthorized access to some internal systems including some commonly available business contact information in its third-party customer relationship management platform.August 2025
• The California Consumer Privacy Act (CCPA) took effect on January 1, 2020.January 1, 2020
• The California Privacy Rights Act (CPRA) came into effect on January 1, 2023.January 1, 2023
• A final U.S. Department of Justice rule effective April 8, 2025, restricts transactions involving bulk U.S. sensitive personal data or U.S. government-related data by countries of concern including China.April 8, 2025
• Workday issued $3.0 billion in Senior Notes: $1.0 billion 3.500% due April 1, 2027, $750 million 3.700% due April 1, 2029, $1.25 billion 3.800% due April 1, 2032.
• Workday entered into a 2022 Credit Agreement for a $1.0 billion revolving credit facility.2022
• The dual class structure will convert to a single class on the first of: October 17, 2032; when Class B falls below 9% of outstanding Class A and Class B; nine months after the death of both Mr. Duffield and Mr. Bhusri; or a majority vote of Class B holders to convert.October 17, 2032