Workday’s Class A and Class B shares are identical, except for voting and conversion rights. Each Class A share is entitled to one vote while each Class B share is entitled to ten votes and is convertible into a Class A share at any time. Co-founders David Duffield and Aneel Bhusri, together with their affiliates, will hold about 67% of the voting rights after the offering.
Shareholders in the company include entities affiliated with New Enterprise Associates. Morgan Stanley and Goldman Sachs were listed as the lead underwriters for the offering. Workday’s Class A shares have been approved for listing on the New York Stock Exchange under the symbol WDAY and are scheduled to be priced on October 11.
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