Workday, Inc S-3/A, filed Jun 8, 2023
Workday, Inc. (WDAY)
S-3/A
2023-06-08
View Original
Added on
October 27, 2026
As filed with the Securities and Exchange Commission on June 8, 2023
Registration No. 333-272372
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
AMENDMENT NO. 1 TO
FORM S-3
REGISTRATION STATEMENT
Under
The Securities Act of 1933
WORKDAY, INC.
(Exact name of Registrant as specified in its charter)
Delaware (State or other jurisdiction of incorporation or organization) | 20-2480422 (I.R.S. Employer Identification No.) | ||||
Workday, Inc.
6110 Stoneridge Mall Road
Pleasanton, California 94588
(925) 951-9000
(Address, including zip code and telephone number, including area code, of Registrant’s principal executive offices)
Barbara Larson
Chief Financial Officer
Workday, Inc.
6110 Stoneridge Mall Road
Pleasanton, California 94588
(925) 951-9000
(Name, address, including zip code, and telephone number, including area code, of agent for service)
Please send copies of all communications to:
Richard H. Sauer, Esq. Chief Legal Officer, Head of Corporate Affairs, and Corporate Secretary Workday, Inc. 6110 Stoneridge Mall Road Pleasanton, California 94588 (925) 951-9000 | David A. Bell, Esq. Julia Forbess, Esq. Fenwick & West LLP Silicon Valley Center 801 California Street Mountain View, California 94041 (650) 988-8500 | ||||
Approximate date of commencement of proposed sale to the public:
From time to time after the effective date of this Registration Statement.
If the only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box. ☐
If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, other than securities offered only in connection with dividend or interest reinvestment plans, check the following box. ☒
If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
If this Form is a registration statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, check the following box. ☒
If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box. ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | ☒ | Accelerated filer | ☐ | ||||||||
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ | ||||||||
| Emerging growth company | ☐ | ||||||||||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐
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EXPLANATORY NOTE
Workday, Inc. is filing this Amendment No. 1 (“Amendment No. 1”) to its Registration Statement on Form S-3 (333- 272372), originally filed on June 2, 2023 (the “Registration Statement”), as an exhibit-only filing solely to file the auditor consent with a conformed signature, which was inadvertently omitted from the auditor consent that was filed as Exhibit 23.1 to the Registration Statement. This Amendment No. 1 consists only of the facing page, this explanatory note, Part II of the Registration Statement, the signature page to the Registration Statement, the exhibit index and the exhibit being filed with this Amendment No. 1. Part I of the Registration Statement is unchanged and has been omitted.
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PART II
INFORMATION NOT REQUIRED IN PROSPECTUS
ITEM 14. Other Expenses of Issuance and Distribution
The following table sets forth the estimated costs and expenses payable by us in connection with the offering of the securities being registered.
| SEC registration fee | * | ||||
| Nasdaq listing fee | ** | ||||
| Accounting fees and expenses | ** | ||||
| Legal fees and expenses | ** | ||||
| Printing and engraving | ** | ||||
| Transfer agent and registrar fees | ** | ||||
| Trustee fees | ** | ||||
| Blue sky fees and expenses (including legal fees) | ** | ||||
| Miscellaneous | ** | ||||
| Total | ** | ||||
*In accordance with Rules 456(b) and 457 (r) of the Securities Act of 1933, as amended (the “Securities Act”), we are deferring payment of the registration fee for the securities offered.
**The amount of securities and number of offerings are unspecified and the expenses cannot be estimated at this time. An estimate of the aggregate expenses in connection with the sale and distribution of securities being offered will be included in any applicable prospectus supplement.
ITEM 15. Indemnification of Directors and Officers
Section 145 of the Delaware General Corporation Law authorizes a court to award, or a corporation’s board of directors to grant, indemnity to directors and officers under certain circumstances and subject to certain limitations. The terms of Section 145 of the Delaware General Corporation Law are sufficiently broad to permit indemnification under certain circumstances for liabilities, including reimbursement of expenses incurred, arising under the Securities Act.
As permitted by the Delaware General Corporation Law, the Registrant’s restated certificate of incorporation contains provisions that eliminate the personal liability of its directors for monetary damages for any breach of fiduciary duties as a director, except liability for the following:
•any breach of the director's duty of loyalty to the Registrant or its stockholders;
•acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of law;
•under Section 174 of the Delaware General Corporation Law (regarding unlawful dividends and stock purchases); or
•any transaction from which the director derived an improper personal benefit.
As permitted by the Delaware General Corporation Law, the Registrant's amended and restated bylaws provide that:
•the Registrant is required to indemnify its directors and officers to the fullest extent permitted by the Delaware General Corporation Law, subject to very limited exceptions;
•the Registrant may indemnify its other employees and agents as set forth in the Delaware General Corporation Law;
•the Registrant is required to advance expenses, as incurred, to its directors and officers in connection with a legal proceeding to the fullest extent permitted by the Delaware General Corporation Law, subject to very limited exceptions; and
•the rights conferred in the amended and restated bylaws are not exclusive.
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The Registrant has entered into indemnification agreements with each of its current directors and executive officers to provide these directors and executive officers additional contractual assurances regarding the scope of the indemnification set forth in the Registrant’s restated certificate of incorporation and amended and restated bylaws and to provide additional procedural protections. The indemnification provisions in the Registrant’s restated certificate of incorporation, amended and restated bylaws, and the indemnification agreements entered into between the Registrant and each of its directors and executive officers may be sufficiently broad to permit indemnification of the Registrant’s directors and executive officers for liabilities arising under the Securities Act.
The Registrant currently carries liability insurance for its directors and officers.
ITEM 16. Exhibits and Financial Statement Schedules
| Incorporated by Reference Herein | Filed Herewith | |||||||||||||||||||||||||||||||||||||
| Exhibit No. | Description of Exhibit | Form | File No. | Filing Date | Exhibit No. | |||||||||||||||||||||||||||||||||
| 1.1* | Form of Underwriting Agreement | |||||||||||||||||||||||||||||||||||||
| 3.1 | 10-Q | 001-35680 | December 7, 2012 | 3.1 | ||||||||||||||||||||||||||||||||||
| 3.2 | 8-K | 001-35680 | January 26, 2023 | 3.1 | ||||||||||||||||||||||||||||||||||
| 4.1 | S-1/A | 333-183640 | October 1, 2012 | 4.1 | ||||||||||||||||||||||||||||||||||
| 4.2 | S-8 | 333-184395 | October 12, 2012 | 4.9 | ||||||||||||||||||||||||||||||||||
| 4.3* | Form of Specimen Preferred Stock Certificate | |||||||||||||||||||||||||||||||||||||
| 4.4* | Form of Warrant Agreement (including form of warrant certificate) | |||||||||||||||||||||||||||||||||||||
| 4.5 | S-3 | 333-272372 | June 2, 2023 | 4.5 | ||||||||||||||||||||||||||||||||||
| 4.6 | S-3 | 333-272372 | June 2, 2023 | 4.6 | ||||||||||||||||||||||||||||||||||
| 5.1 | S-3 | 333-272372 | June 2, 2023 | 5.1 | ||||||||||||||||||||||||||||||||||
| 23.1 | X | |||||||||||||||||||||||||||||||||||||
| 23.2 | S-3 | 333-272372 | June 2, 2023 | 5.1 | ||||||||||||||||||||||||||||||||||
| 24.1 | S-3 | 333-272372 | June 2, 2023 | 24.1 | ||||||||||||||||||||||||||||||||||
| 25.1** | Form T-1 Statement of Eligibility of Trustee under Debt Indenture | |||||||||||||||||||||||||||||||||||||
| 107.1 | S-3 | 333-272372 | June 2, 2023 | 107.1 | ||||||||||||||||||||||||||||||||||
*To be filed by amendment or as an exhibit to a current report on Form 8-K and incorporated herein by reference, if applicable.
**To be filed in accordance with the requirements of Section 305(b)(2) of the Trust Indenture Act of 1939, as amended, and the applicable rules thereunder.
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ITEM 17. Undertakings
(a) The undersigned Registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:
(i) To include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii) To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in the volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” tables in the effective registration statement; and
(iii) To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;
provided, however, that paragraphs (i), (ii) and (iii) above do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the SEC by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act, that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed pursuant to Rule 424(b) that is part of the registration statement.
(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(4) That, for the purpose of determining liability under the Securities Act to any purchaser:
(i) Each prospectus filed by the Registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration statement; and
(ii) Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii), or (x) for the purpose of providing the information required by Section 10(a) of the Securities Act shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities in the registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such effective date.
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(5) That, for the purpose of determining liability of the Registrant under the Securities Act to any purchaser in the initial distribution of the securities, the undersigned Registrant undertakes that in a primary offering of securities of the undersigned Registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned Registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:
(i) Any preliminary prospectus or prospectus of the undersigned Registrant relating to the offering required to be filed pursuant to Rule 424;
(ii) Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned Registrant or used or referred to by the undersigned Registrant;
(iii) The portion of any other free writing prospectus relating to the offering containing material information about the undersigned Registrant or its securities provided by or on behalf of the undersigned Registrant; and
(iv) Any other communication that is an offer in the offering made by the undersigned Registrant to the purchaser.
(b) The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant’s annual report, pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(c) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
(d) The undersigned Registrant hereby undertakes to file an application for the purpose of determining the eligibility of the trustee to act under subsection (a) of Section 310 of the Trust Indenture Act in accordance with the rules and regulations prescribed by the SEC under Section 305(b)(2) of the Trust Indenture Act.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-3 and has duly caused this Amendment No. 1 to the registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pleasanton, State of California, on June 8, 2023.
| WORKDAY, INC. | ||||||||
| By: | /s/ Richard H. Sauer | |||||||
| Richard H. Sauer | ||||||||
| Chief Legal Officer, Head of Corporate Affairs and Corporate Secretary | ||||||||
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| Signature | Title | Date | ||||||||||||
/s/ Aneel Bhusri | Co-Chief Executive Officer and Director (Principal Executive Officer) | June 8, 2023 | ||||||||||||
Aneel Bhusri | ||||||||||||||
/s/ Carl M. Eschenbach | Co-Chief Executive Officer and Director (Principal Executive Officer) | June 8, 2023 | ||||||||||||
Carl M. Eschenbach | ||||||||||||||
/s/ Barbara A. Larson | Chief Financial Officer (Principal Financial and Accounting Officer) | June 8, 2023 | ||||||||||||
Barbara A. Larson | ||||||||||||||
* | Director | June 8, 2023 | ||||||||||||
Thomas F. Bogan | ||||||||||||||
* | Director | June 8, 2023 | ||||||||||||
Ann-Marie Campbell | ||||||||||||||
* | Director | June 8, 2023 | ||||||||||||
Christa Davies | ||||||||||||||
* | Director | June 8, 2023 | ||||||||||||
Lynne M. Doughtie | ||||||||||||||
* | Director | June 8, 2023 | ||||||||||||
Wayne A.I. Frederick, M.D. | ||||||||||||||
* | Director | June 8, 2023 | ||||||||||||
Mark J. Hawkins | ||||||||||||||
* | Director | June 8, 2023 | ||||||||||||
Michael M. McNamara | ||||||||||||||
* | Director | June 8, 2023 | ||||||||||||
George J. Still, Jr. | ||||||||||||||
* | Director | June 8, 2023 | ||||||||||||
Lee J. Styslinger III | ||||||||||||||
* | Director | June 8, 2023 | ||||||||||||
Jerry Yang | ||||||||||||||
| *By: | /s/ Richard H. Sauer | ||||
| Richard H. Sauer | |||||
| Attorney-in-Fact | |||||
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Consent of Independent Registered Public Accounting Firm
We consent to the reference to our firm under the caption "Experts" in this Registration Statement (Form S-3) and related Prospectus of Workday, Inc. for the registration of Class A common stock, preferred stock, debt securities, and warrants and to the incorporation by reference therein of our reports dated February 27, 2023, with respect to the consolidated financial statements of Workday, Inc., and the effectiveness of internal control over financial reporting of Workday, Inc., included in its Annual Report (Form 10-K) for the year ended January 31, 2023, filed with the Securities and Exchange Commission.
| /s/ Ernst & Young LLP | ||
| San Francisco, California | ||
| June 2, 2023 | ||