UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
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Section 8 - Other Events
Item 8.01. Other Events
On August 9, 2021, Martin J. Vanderploeg, President and Chief Executive Officer of Workiva Inc. (the "Company") and Jeffrey B. Trom, Executive Vice President and Chief Technology Officer of the Company, each sold a portion of their Company stock. Mr. Vanderploeg sold his shares for tax planning purposes in connection with a divorce settlement agreement. Mr. Trom sold his shares as part of his strategy for philanthropy, tax planning, asset diversification and liquidity. Messrs. Vanderploeg and Trom have each informed the Company that they intend to continue in their capacities as the Company's President and Chief Executive Officer, and Executive Vice President and Chief Technology Officer, respectively, for the foreseeable future.
Mr. Vanderploeg exercised 44,550 stock options, and converted 561,029 shares, or approximately 22% of his Class B common stock, into Class A common stock. Following these transactions, Mr. Vanderploeg sold 735,579 shares of Class A common stock, representing approximately 22% of his beneficially owned stock, in a block trade made in accordance with the provisions of Rule 144 of the Securities Act of 1933. This sale comprises approximately 1.4% of the Company's total outstanding capital stock. Following this transaction, Mr. Vanderploeg beneficially owns directly and indirectly approximately 605,543 shares of Class A common stock (including options exercisable within 60 days) and 1,976,636 shares of Class B common stock, or approximately 5.1% of the Company's total outstanding capital stock, and holds approximately 19% of the voting power of the Company's outstanding capital stock.
Mr. Trom converted 525,000 shares, or approximately 28.6% of his Class B common stock, into Class A common stock. Following this transaction, Mr. Trom sold 600,000 shares of Class A common stock, representing approximately 28.3% of his beneficially owned stock, in a block trade made in accordance with the provisions of Rule 144 of the Securities Act of 1933. This sale comprises approximately 1.2% of the Company's total outstanding capital stock. Following this transaction, Mr. Trom beneficially owns directly and indirectly approximately 206,019 shares of Class A common stock (including options exercisable within 60 days) and 1,313,665 shares of Class B common stock, or approximately 3% of the Company's total outstanding capital stock, and holds approximately 12.4% of the voting power of the Company's outstanding capital stock.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on this 11th day of August, 2021.
WORKIVA INC. | |||||
By: | /s/ Brandon Ziegler | ||||
Name: | Brandon Ziegler | ||||
Title: | Executive Vice President, Chief Legal Officer and Secretary | ||||