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Get filing alertsWorkday enhances executive severance benefits, expands equity acceleration window
Filed April 24, 2026 · Period ending April 20, 2026 · ~1 min read
Key Changes
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Board expanded equity acceleration in severance: equity granted up to 9 months before termination now eligible to accelerate (previously excluded if granted within 12 months). Makes departure packages more generous for executives.
Item 5.02 verify on EDGAR → -
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Policy now guarantees departing executives receive prior-year bonuses at 100% individual performance level (based on actual company results) if terminated between fiscal year-end and payout date.
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Terminated executives also receive pro-rated target bonus for the termination year, calculated based on time worked. Adds cash to severance packages beyond prior-year bonus adjustments.
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Changes apply to non-change-in-control terminations only. Board approved amendments on April 20, 2026, affecting executive compensation arrangements going forward.
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Summary
Workday's board amended its executive severance policy on April 20, 2026, making departure packages more generous for executives terminated outside of acquisition scenarios. The most significant change expands equity acceleration: previously, any stock grants made within 12 months of termination were excluded from accelerating; now only grants made within 3 months are excluded. This means executives leaving the company can now vest equity awarded up to 9 months earlier, increasing the value of severance packages.
The policy also clarifies bonus treatment for executives who depart between fiscal year-end and bonus payout dates, guaranteeing they receive prior-year bonuses at 100% individual performance (based on actual company results), plus a pro-rated target bonus for the termination year. For retail investors, enhanced severance terms can signal confidence in executive retention or preparation for potential leadership transitions. Watch upcoming proxy filings for details on how these changes affect named executive officers' total compensation packages and whether any executive departures follow this policy update.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Workday amended its executive severance policy to enhance benefits for non-change-in-control terminations.
Added in current filing · verify on EDGAR →
On April 20, 2026, the Board of Directors of Workday, Inc. (“Workday”) amended and restated the Workday, Inc. Executive Severance and Change in Control Policy (the “Policy”).
The Board amended the executive severance policy on April 20, 2026. The amendments specifically affect benefits for executives who are terminated outside of a change-in-control scenario (Non-CIC Qualifying Termination). This represents a formal change to executive compensation arrangements.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
if the termination occurs after the end of the prior fiscal year but before the payout date of the annual bonus for such prior fiscal year, a lump sum bonus equivalent payment for the prior fiscal year, based on an individual performance percentage of 100% and actual achievement of the company’s performance goals, minus any portion of the annual bonus paid to the participant for the prior fiscal year
The amended policy clarifies how bonus payments are calculated for executives terminated between fiscal year-end and the bonus payout date. The executive receives a bonus based on 100% individual performance and actual company performance for the prior year, minus any amounts already paid. This ensures departing executives receive their earned prior-year bonus.
Event · Item 9.01 — Financial Statements and Exhibits
Workday amended its Executive Severance and Change in Control Policy.
Added in current filing · view on EDGAR →
Exhibit NumberDescription
10.1 Workday, Inc. Executive Severance and Change in Control Policy, as amended
Workday disclosed an amendment to its Executive Severance and Change in Control Policy. The 8-K does not provide details on what specific terms were changed, but amendments to severance policies can affect executive compensation, retention incentives, or change-of-control protections. Investors should review the full exhibit to understand the material changes.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 2, 2026 · How we verify