What is the primary purpose of the new Omnibus Bonus Plan?

The primary purpose of the Omnibus Bonus Plan is to motivate and reward eligible employees for their contributions towards achieving Workday's specific performance goals.

How will employees be compensated under this new plan?

Awards under the plan will generally be paid in cash or its equivalent. However, the Compensation Committee retains the discretion to offer or pay awards in the form of equity compensation.

Who decides on the performance goals and awards?

The Compensation Committee of Workday's Board of Directors has the authority to establish performance goals and determine the terms and conditions, including vesting, of the awards made under the plan.

Where can I find more details about the Omnibus Bonus Plan?

The full text of the Workday, Inc. Omnibus Bonus Plan is filed as Exhibit 10.1 with this 8-K filing and is incorporated herein by reference for a complete understanding.

WDAY 8-K: Leadership Changes

Summary

Workday, Inc. (WDAY) announced on March 3, 2023, the adoption of its new Omnibus Bonus Plan by its Compensation Committee. This plan is designed to incentivize and reward employees based on the achievement of specific company performance targets. It grants the Committee broad discretion in setting these performance goals and determining the nature of the awards, which will primarily be in cash or its equivalent.

Key Highlights

1Adoption of the Workday, Inc. Omnibus Bonus Plan on March 3, 2023.
2The plan aims to motivate and reward employees tied to company performance goals.
3Awards will generally be paid in cash or its equivalent.
4The Compensation Committee has discretion over setting performance goals.
5The Committee also has discretion over the form of award, including potential equity awards.
6Details of the plan are available in Exhibit 10.1 filed with the 8-K.

Workday, Inc. 8-K Report, Executive Changes (Mar 3, 2023)

Summary

Key Highlights

Frequently Asked Questions