Summary
Workday, Inc. (WDAY) announced a significant addition to its Board of Directors with the appointment of Rhonda J. Morris, effective February 14, 2025. Ms. Morris, a seasoned executive with extensive experience as Vice President and Chief Human Resources Officer at Chevron Corporation, brings valuable insights into human capital management and customer experience, aligning with Workday's core business. Her appointment, which follows her retirement from Chevron, is a strategic move to enhance the board's expertise and oversight. Investors should note that Ms. Morris will receive a one-time grant of $750,000 in restricted stock units (RSUs) upon her appointment, with a standard vesting schedule. This compensation aligns with Workday's practices for non-employee directors. Additionally, the filing clarifies that Chevron Corporation is a Workday customer, with material transaction volumes in the past fiscal year and current year-to-date, all conducted on an arms-length basis. The appointment is effective February 14, 2025, and Ms. Morris will stand for election at the 2026 Annual Meeting of Stockholders.
Key Highlights
- 1Appointment of Rhonda J. Morris as a Class II director, effective February 14, 2025.
- 2Ms. Morris brings extensive experience in human capital management and customer experience from her tenure at Chevron Corporation.
- 3Ms. Morris has been determined to be an independent director according to Nasdaq rules.
- 4Upon appointment, Ms. Morris will receive a one-time RSU grant valued at $750,000, subject to a vesting schedule.
- 5Chevron Corporation, a customer of Workday, had material transactions totaling approximately $19.8 million in FY2024 and $900,000 in H1 FY2025.
- 6All transactions with Chevron were conducted on an arms-length basis in the ordinary course of business.
- 7Ms. Morris's class of directors will be up for election at the 2026 Annual Meeting of Stockholders.