|
|
|
x
|
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
¨
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
|
|
Delaware
|
20-2480422
|
(State or other jurisdiction of
incorporation or organization)
|
(I.R.S. Employer
Identification No.)
|
6110 Stoneridge Mall Road
Pleasanton, California
|
94588
|
(Address of principal executive offices)
|
(Zip Code)
|
Title of each class
|
Name of each exchange on which registered
|
Class A Common Stock, par value $0.001
|
The Nasdaq Stock Market LLC
|
|
(Nasdaq Global Select Market)
|
|
Large accelerated filer
|
x
|
Accelerated filer
|
¨
|
Non-accelerated filer
|
¨
|
Smaller reporting company
|
¨
|
|
|
Emerging growth company
|
¨
|
|
|
PART I
|
|
Item 1.
|
||
Item 1A.
|
||
Item 1B.
|
||
Item 2.
|
||
Item 3.
|
||
Item 4.
|
||
|
PART II
|
|
Item 5.
|
||
Item 6.
|
||
Item 7.
|
||
Item 7A.
|
||
Item 8.
|
||
Item 9.
|
||
Item 9A.
|
||
Item 9B.
|
||
|
PART III
|
|
Item 10.
|
||
Item 11.
|
||
Item 12.
|
||
Item 13.
|
||
Item 14.
|
||
|
PART IV
|
|
Item 15.
|
||
Item 16.
|
•
|
level of customer satisfaction;
|
•
|
ease of deployment and use of applications;
|
•
|
breadth and depth of application functionality;
|
•
|
total cost of ownership;
|
•
|
brand awareness and reputation;
|
•
|
adaptive technology platform;
|
•
|
capability for configuration, integration, security, scalability, and reliability of applications;
|
•
|
operational excellence to ensure system availability, scalability, and performance;
|
•
|
ability to innovate and respond to customer needs rapidly;
|
•
|
domain expertise on financial, human resources, and payroll regulations;
|
•
|
size of customer base and level of user adoption;
|
•
|
customer confidence in financial stability and future viability; and
|
•
|
ability to integrate with legacy enterprise infrastructures and third-party applications.
|
•
|
loss or delayed market acceptance and sales;
|
•
|
legal claims, including breach of warranty claims;
|
•
|
issuance of refunds or service credits to customers for prepaid and unused subscription services;
|
•
|
loss of customers;
|
•
|
diversion of development and customer service resources; and
|
•
|
injury to our brand and reputation.
|
•
|
the need to localize and adapt our applications for specific countries, including translation into foreign languages, localization of contracts for different legal jurisdictions, and associated expenses;
|
•
|
the need for a go-to-market strategy that aligns application management efforts and the development of supporting infrastructure;
|
•
|
stricter data privacy laws including requirements that customer data be stored and processed in a designated territory and obligations on us as a data processor;
|
•
|
difficulties in appropriately staffing and managing foreign operations and providing appropriate compensation for local markets;
|
•
|
difficulties in leveraging executive presence and company culture globally;
|
•
|
different pricing environments, longer sales cycles, and longer trade receivables payment cycles, and collections issues;
|
•
|
new and different sources of competition;
|
•
|
potentially weaker protection for intellectual property and other legal rights than in the United States and practical difficulties in enforcing intellectual property and other rights;
|
•
|
laws, customs, and business practices favoring local competitors;
|
•
|
restrictive governmental actions focused on cross-border trade, such as import and export restrictions, duties, quotas, tariffs, trade disputes, and barriers or sanctions that may prevent us from offering certain portions of our products or services to a particular market, may increase our operating costs, or may subject us to monetary fines or penalties in case of unintentional noncompliance due to factors beyond our control;
|
•
|
compliance challenges related to the complexity of multiple, conflicting, and changing governmental laws and regulations, including employment, tax, privacy, and data protection laws and regulations;
|
•
|
increased compliance costs related to government regulatory reviews or audits, including those related to international cybersecurity requirements;
|
•
|
increased financial accounting and reporting burdens and complexities;
|
•
|
restrictions on the transfer of funds;
|
•
|
ensuring compliance with anti-corruption laws including the Foreign Corrupt Practices Act;
|
•
|
the effects of currency fluctuations on our revenues and expenses and customer demand for our services, including any fluctuations caused by uncertainties relating to the UK leaving the EU (“Brexit”);
|
•
|
the cost and potential outcomes of any international claims or litigation;
|
•
|
adverse tax consequences and tax rulings; and
|
•
|
unstable economic and political conditions.
|
•
|
inability to integrate or benefit from an acquisition in a profitable manner;
|
•
|
acquisition-related costs, liabilities, or tax impacts, some of which may be unanticipated;
|
•
|
difficulty in integrating the intellectual property, technology infrastructure, and operations of the acquired business, including difficulty in addressing security issues of the acquired business;
|
•
|
difficulty in integrating and retaining the personnel of the acquired business;
|
•
|
difficulty in leveraging the data of the acquired business if it includes personal data;
|
•
|
ineffective or inadequate controls, procedures, or policies at the acquired company;
|
•
|
multiple product lines or service offerings, as a result of our acquisitions, that are offered, priced, and supported differently;
|
•
|
difficulties and additional expenses associated with synchronizing product offerings, customer relationships, and contract portfolio terms and conditions between Workday and the acquired business;
|
•
|
potential unknown liabilities or risks associated with the acquired businesses, including those arising from existing contractual obligations or litigation matters;
|
•
|
adverse effects on our existing business relationships with business partners and customers as a result of the acquisition;
|
•
|
potential write-offs of acquired assets and potential financial and credit risks associated with acquired customers;
|
•
|
inability to maintain relationships with key customers, suppliers, and partners of the acquired business;
|
•
|
difficulty in predicting and controlling the effect of integrating multiple acquisitions concurrently;
|
•
|
lack of experience in new markets, products, or technologies;
|
•
|
diversion of management’s attention from other business concerns;
|
•
|
use of resources that are needed in other parts of our business; and
|
•
|
use of substantial portions of our available cash to consummate the acquisition.
|
•
|
our ability to attract new customers;
|
•
|
the addition or loss of large customers, including through acquisitions or consolidations;
|
•
|
customer renewal rates;
|
•
|
the timing of operating expenses and recognition of revenues;
|
•
|
the amount and timing of operating expenses related to the maintenance and expansion of our business, operations, and infrastructure;
|
•
|
network outages or security breaches;
|
•
|
general economic and market conditions;
|
•
|
increases or decreases in the number of elements of our services or pricing changes upon any renewals of customer agreements;
|
•
|
changes in our pricing policies or those of our competitors;
|
•
|
the mix of applications sold during a period;
|
•
|
seasonal variations in sales of our applications, which have historically been highest in our fiscal fourth quarter;
|
•
|
the timing and success of new application and service introductions by us or our competitors;
|
•
|
changes in the competitive dynamics of our industry, including consolidation among competitors, customers, or strategic partners;
|
•
|
changes in laws and regulations that impact our business; and
|
•
|
the timing of expenses related to acquisitions and potential future charges for impairment of goodwill.
|
•
|
overall performance of the equity markets;
|
•
|
fluctuations in the valuation of companies perceived by investors to be comparable to us, such as high-growth or cloud companies, or in valuation metrics, such as our price to revenues ratio;
|
•
|
guidance as to our operating results that we provide to the public, differences between our guidance and market expectations, our failure to meet our guidance, or changes in recommendations by securities analysts that follow our securities;
|
•
|
announcements of technological innovations, new applications or enhancements to services, acquisitions, strategic alliances, or significant agreements by us or by our competitors;
|
•
|
disruptions in our services due to computer hardware, software, or network problems;
|
•
|
announcements of customer additions and customer cancellations or delays in customer purchases;
|
•
|
recruitment or departure of key personnel;
|
•
|
the economy as a whole, market conditions in our industry, and the industries of our customers;
|
•
|
trading activity by directors, executive officers and significant stockholders, or the perception in the market that the holders of a large number of shares intend to sell their shares;
|
•
|
the exercise of rights held by certain of our stockholders, subject to some conditions, to require us to file registration statements covering their shares or to include their shares in registration statements that we may file for ourselves or our stockholders;
|
•
|
the size of our market float and significant stock option exercises;
|
•
|
any future issuances of securities;
|
•
|
sales and purchases of any Class A common stock issued upon conversion of our convertible senior notes or in connection with the convertible note hedge and warrant transactions related to such convertible senior notes;
|
•
|
our operating performance and the performance of other similar companies; and
|
•
|
the sale or availability for sale of a large number of shares of our Class A common stock in the public market.
|
•
|
make it difficult for us to pay other obligations;
|
•
|
make it difficult to obtain favorable terms for any necessary future financing for working capital, capital expenditures, debt service requirements, or other purposes;
|
•
|
adversely affect our liquidity and result in a material adverse effect on our financial position upon repayment of the indebtedness;
|
•
|
require us to dedicate a substantial portion of our cash flow from operations to service and repay the indebtedness, reducing the amount of cash flow available for other purposes; and
|
•
|
limit our flexibility in planning for and reacting to changes in our business.
|
•
|
any transaction that would result in a change in control of our company requires the approval of a majority of our outstanding Class B common stock voting as a separate class;
|
•
|
our dual class common stock structure, which provides our chairman and CEO with the ability to control the outcome of matters requiring stockholder approval, even if they own significantly less than a majority of the shares of our outstanding Class A and Class B common stock;
|
•
|
our board of directors is classified into three classes of directors with staggered three-year terms and directors are only able to be removed from office for cause;
|
•
|
when the outstanding shares of our Class B common stock represent less than a majority of the combined voting power of common stock:
|
•
|
certain amendments to our restated certificate of incorporation or restated bylaws will require the approval of two-thirds of the combined vote of our then-outstanding shares of Class A and Class B common stock;
|
•
|
our stockholders will only be able to take action at a meeting of stockholders and not by written consent; and
|
•
|
vacancies on our board of directors will be able to be filled only by our board of directors and not by stockholders;
|
•
|
only our chairman of the board, chief executive officer, either co-president, or a majority of our board of directors are authorized to call a special meeting of stockholders;
|
•
|
certain litigation against us can only be brought in Delaware;
|
•
|
we will have two classes of common stock until the date that is the first to occur of (i) October 11, 2032, (ii) such time as the shares of Class B common stock represent less than 9% of the outstanding Class A and Class B common stock, (iii) nine months following the death of both Mr. Duffield and Mr. Bhusri, or (iv) the date on which the holders of a majority of the shares of Class B common stock elect to convert all shares of Class A common stock and Class B common stock into a single class of common stock;
|
•
|
our restated certificate of incorporation authorizes undesignated preferred stock, the terms of which may be established, and shares of which may be issued, without the approval of the holders of Class A common stock; and
|
•
|
advance notice procedures apply for stockholders to nominate candidates for election as directors or to bring matters before an annual meeting of stockholders.
|
Company/Index
|
|
1/31/2014
|
|
1/31/2015
|
|
1/31/2016
|
|
1/31/2017
|
|
1/31/2018
|
|
1/31/2019
|
||||||||||||
Workday, Inc.
|
|
$
|
100.00
|
|
|
$
|
88.74
|
|
|
$
|
70.37
|
|
|
$
|
92.80
|
|
|
$
|
133.90
|
|
|
$
|
202.74
|
|
S&P 500 Index
|
|
100.00
|
|
|
114.21
|
|
|
113.44
|
|
|
136.17
|
|
|
172.12
|
|
|
168.12
|
|
||||||
S&P 1500 Application Software Index
|
|
100.00
|
|
|
109.45
|
|
|
124.20
|
|
|
157.75
|
|
|
232.97
|
|
|
281.13
|
|
Period
|
|
Total Number of Shares Purchased
|
|
Average Price Paid per Share
|
|
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs
|
|
Maximum Number (or Approximate Dollar Value) of Shares that May Yet Be Purchased Under the Plans or Programs
|
|||||
July 1, 2018 - July 31, 2018
(1)
|
|
1,457,546
|
|
|
$
|
132.88
|
|
|
—
|
|
|
—
|
|
August 1, 2018 - August 31, 2018
(2)
|
|
1
|
|
|
$
|
132.75
|
|
|
—
|
|
|
—
|
|
November 1, 2018 - November 30, 2018
(2)
|
|
1
|
|
|
$
|
130.32
|
|
|
—
|
|
|
—
|
|
Total
|
|
1,457,548
|
|
|
|
|
—
|
|
|
|
(1)
|
The shares purchased represent the exercise of the convertible note hedges relating to the 2018 Notes. For further information, see Note 11 of the notes to consolidated financial statements.
|
(2)
|
The share purchased represents the exercise of the convertible note hedge relating to the partial early conversion of the 2020 Notes. For further information, see Note 11 of the notes to consolidated financial statements.
|
|
Year Ended January 31,
|
||||||||||||||||||
|
2019
|
|
2018
|
|
2017
|
|
2016
|
|
*2015
|
||||||||||
|
|
|
*As Adjusted
|
|
*As Adjusted
|
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
||||||||||
|
(in thousands, except per share data)
|
||||||||||||||||||
Consolidated Statements of Operations Data:
|
|
|
|
|
|
|
|
|
|
||||||||||
Revenues:
|
|
|
|
|
|
|
|
|
|
||||||||||
Subscription services
|
$
|
2,385,769
|
|
|
$
|
1,787,833
|
|
|
$
|
1,290,733
|
|
|
$
|
920,196
|
|
|
$
|
613,328
|
|
Professional services
|
436,411
|
|
|
355,217
|
|
|
283,707
|
|
|
236,494
|
|
|
174,532
|
|
|||||
Total revenues
|
2,822,180
|
|
|
2,143,050
|
|
|
1,574,440
|
|
|
1,156,690
|
|
|
787,860
|
|
|||||
Costs and expenses
(1)
:
|
|
|
|
|
|
|
|
|
|
||||||||||
Costs of subscription services
|
379,877
|
|
|
273,461
|
|
|
213,389
|
|
|
149,869
|
|
|
102,476
|
|
|||||
Costs of professional services
|
455,073
|
|
|
355,952
|
|
|
270,156
|
|
|
224,558
|
|
|
162,327
|
|
|||||
Product development
|
1,211,832
|
|
|
910,584
|
|
|
680,531
|
|
|
469,944
|
|
|
316,868
|
|
|||||
Sales and marketing
|
891,345
|
|
|
683,367
|
|
|
565,328
|
|
|
413,530
|
|
|
315,840
|
|
|||||
General and administrative
|
347,337
|
|
|
222,909
|
|
|
198,122
|
|
|
148,578
|
|
|
106,051
|
|
|||||
Total costs and expenses
|
3,285,464
|
|
|
2,446,273
|
|
|
1,927,526
|
|
|
1,406,479
|
|
|
1,003,562
|
|
|||||
Operating loss
|
(463,284
|
)
|
|
(303,223
|
)
|
|
(353,086
|
)
|
|
(249,789
|
)
|
|
(215,702
|
)
|
|||||
Other income (expense), net
|
39,532
|
|
|
(11,563
|
)
|
|
(32,427
|
)
|
|
(24,242
|
)
|
|
(30,270
|
)
|
|||||
Loss before provision for (benefit from) income taxes
|
(423,752
|
)
|
|
(314,786
|
)
|
|
(385,513
|
)
|
|
(274,031
|
)
|
|
(245,972
|
)
|
|||||
Provision for (benefit from) income taxes
|
(5,494
|
)
|
|
6,436
|
|
|
(814
|
)
|
|
1,017
|
|
|
2,010
|
|
|||||
Net loss
|
$
|
(418,258
|
)
|
|
$
|
(321,222
|
)
|
|
$
|
(384,699
|
)
|
|
$
|
(275,048
|
)
|
|
$
|
(247,982
|
)
|
Net loss attributable to Class A and Class B common stockholders
|
$
|
(418,258
|
)
|
|
$
|
(321,222
|
)
|
|
$
|
(384,699
|
)
|
|
$
|
(275,048
|
)
|
|
$
|
(247,982
|
)
|
Net loss per share attributable to Class A and Class B common stockholders, basic and diluted
|
$
|
(1.93
|
)
|
|
$
|
(1.55
|
)
|
|
$
|
(1.94
|
)
|
|
$
|
(1.45
|
)
|
|
$
|
(1.35
|
)
|
Weighted-average shares used to compute net loss per share attributable to Class A and Class B common stockholders
|
216,789
|
|
|
207,774
|
|
|
198,214
|
|
|
190,016
|
|
|
183,702
|
|
(1)
|
Costs and expenses include share-based compensation expenses as follows (in thousands):
|
|
Year Ended January 31,
|
||||||||||||||||||
|
2019
|
|
2018
|
|
2017
|
|
2016
|
|
2015
|
||||||||||
Costs of subscription services
|
$
|
36,754
|
|
|
$
|
26,280
|
|
|
$
|
20,773
|
|
|
$
|
12,060
|
|
|
$
|
6,053
|
|
Costs of professional services
|
55,535
|
|
|
37,592
|
|
|
26,833
|
|
|
19,526
|
|
|
12,890
|
|
|||||
Product development
|
320,876
|
|
|
229,819
|
|
|
166,529
|
|
|
109,362
|
|
|
63,938
|
|
|||||
Sales and marketing
|
132,810
|
|
|
100,762
|
|
|
86,229
|
|
|
51,617
|
|
|
29,875
|
|
|||||
General and administrative
|
127,443
|
|
|
83,972
|
|
|
78,265
|
|
|
57,405
|
|
|
43,292
|
|
|
As of January 31,
|
||||||||||||||||||
|
2019
|
|
2018
|
|
2017
|
|
2016
|
|
*2015
|
||||||||||
|
|
|
*As Adjusted
|
|
*As Adjusted
|
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
(in thousands)
|
|
|
||||||||||||||
Consolidated Balance Sheet Data:
|
|
|
|
|
|
|
|
|
|
||||||||||
Cash and cash equivalents
|
$
|
638,554
|
|
|
$
|
1,134,355
|
|
|
$
|
539,923
|
|
|
$
|
300,087
|
|
|
$
|
298,192
|
|
Marketable securities
|
1,139,864
|
|
|
2,133,495
|
|
|
1,456,822
|
|
|
1,669,372
|
|
|
1,559,517
|
|
|||||
Working capital
|
269,905
|
|
|
1,898,104
|
|
|
1,239,202
|
|
|
1,468,067
|
|
|
1,467,122
|
|
|||||
Property and equipment, net
|
796,907
|
|
|
546,609
|
|
|
365,877
|
|
|
214,158
|
|
|
140,136
|
|
|||||
Total assets
|
5,520,746
|
|
|
4,947,424
|
|
|
3,268,282
|
|
|
2,812,370
|
|
|
2,350,090
|
|
|||||
Total unearned revenue
|
1,949,270
|
|
|
1,537,147
|
|
|
1,221,543
|
|
|
891,882
|
|
|
632,744
|
|
|||||
Convertible senior notes, net
|
1,204,778
|
|
|
1,491,354
|
|
|
534,423
|
|
|
507,476
|
|
|
481,958
|
|
|||||
Total liabilities
|
3,562,304
|
|
|
3,367,059
|
|
|
1,991,674
|
|
|
1,586,090
|
|
|
1,224,115
|
|
|||||
Total stockholders’ equity
|
1,958,442
|
|
|
1,580,365
|
|
|
1,276,608
|
|
|
1,226,280
|
|
|
1,125,975
|
|
|
Year Ended January 31,
|
||||||||||||||||||
|
2019
|
|
2018
|
|
2017
|
|
2016
|
|
*2015
|
||||||||||
|
|
|
*As Adjusted
|
|
*As Adjusted
|
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
||||||||||
|
(in thousands)
|
||||||||||||||||||
Cash Flow Data:
|
|
|
|
|
|
|
|
|
|
||||||||||
Net cash provided by (used in) operating activities
|
$
|
606,658
|
|
|
$
|
465,727
|
|
|
$
|
350,626
|
|
|
$
|
258,637
|
|
|
$
|
102,003
|
|
*
|
The summary consolidated financial data for the years ended January 31, 2019, 2018, 2017, and 2016 and as of January 31, 2019, 2018, 2017, and 2016 reflects the adoption of Accounting Standards Update (“ASU”) No. 2014-09,
Revenue from Contracts with Customers (
“
Topic 606
”
)
, and ASU No. 2016-18,
Statement of Cash Flows, Restricted Cash
. See Note 1 of the notes to consolidated financial statements for further information. The summary consolidated financial data for the year ended January 31, 2015 and as of January 31, 2015 does not reflect the adoption of Topic 606 or ASU No. 2016-18.
|
|
Year Ended January 31,
|
||||||||||||||||
|
2019
|
|
2018
|
|
2017
|
|
2018 to 2019
% Change |
|
2017 to 2018
% Change |
||||||||
|
|
|
*As Adjusted
|
|
|
||||||||||||
Subscription services
|
$
|
2,385,769
|
|
|
$
|
1,787,833
|
|
|
$
|
1,290,733
|
|
|
33
|
%
|
|
39
|
%
|
Professional services
|
436,411
|
|
|
355,217
|
|
|
283,707
|
|
|
23
|
%
|
|
25
|
%
|
|||
Total revenues
|
$
|
2,822,180
|
|
|
$
|
2,143,050
|
|
|
$
|
1,574,440
|
|
|
32
|
%
|
|
36
|
%
|
*
|
See Note 1 of the notes to consolidated financial statements for further information.
|
|
Year Ended January 31, 2019
|
||||||||||||||
|
GAAP Operating Expenses
|
|
Share-Based
Compensation Expenses (1) |
|
Other
Operating Expenses (2) |
|
Non-GAAP Operating Expenses
(3)
|
||||||||
Costs of subscription services
|
$
|
379,877
|
|
|
$
|
(36,754
|
)
|
|
$
|
(31,395
|
)
|
|
$
|
311,728
|
|
Costs of professional services
|
455,073
|
|
|
(55,535
|
)
|
|
(3,653
|
)
|
|
395,885
|
|
||||
Product development
|
1,211,832
|
|
|
(320,876
|
)
|
|
(21,230
|
)
|
|
869,726
|
|
||||
Sales and marketing
|
891,345
|
|
|
(132,810
|
)
|
|
(19,725
|
)
|
|
738,810
|
|
||||
General and administrative
|
347,337
|
|
|
(127,443
|
)
|
|
(5,120
|
)
|
|
214,774
|
|
||||
Total costs and expenses
|
$
|
3,285,464
|
|
|
$
|
(673,418
|
)
|
|
$
|
(81,123
|
)
|
|
$
|
2,530,923
|
|
|
Year Ended January 31, 2018
|
||||||||||||||
|
GAAP Operating Expenses
|
|
Share-Based
Compensation Expenses (1) |
|
Other
Operating Expenses (2) |
|
Non-GAAP Operating Expenses
(3)
|
||||||||
Costs of subscription services
|
$
|
273,461
|
|
|
$
|
(26,280
|
)
|
|
$
|
(7,043
|
)
|
|
$
|
240,138
|
|
Costs of professional services
|
355,952
|
|
|
(37,592
|
)
|
|
(2,045
|
)
|
|
316,315
|
|
||||
Product development
|
910,584
|
|
|
(229,819
|
)
|
|
(23,128
|
)
|
|
657,637
|
|
||||
Sales and marketing
|
683,367
|
|
|
(100,762
|
)
|
|
(4,567
|
)
|
|
578,038
|
|
||||
General and administrative
|
222,909
|
|
|
(83,972
|
)
|
|
(3,614
|
)
|
|
135,323
|
|
||||
Total costs and expenses
|
$
|
2,446,273
|
|
|
$
|
(478,425
|
)
|
|
$
|
(40,397
|
)
|
|
$
|
1,927,451
|
|
|
Year Ended January 31, 2017
|
||||||||||||||
|
GAAP Operating Expenses
|
|
Share-Based
Compensation Expenses (1) |
|
Other
Operating Expenses (2) |
|
Non-GAAP Operating Expenses
(3)
|
||||||||
|
*As Adjusted
|
|
|
|
*As Adjusted
|
||||||||||
Costs of subscription services
|
$
|
213,389
|
|
|
$
|
(20,773
|
)
|
|
$
|
(730
|
)
|
|
$
|
191,886
|
|
Costs of professional services
|
270,156
|
|
|
(26,833
|
)
|
|
(1,199
|
)
|
|
242,124
|
|
||||
Product development
|
680,531
|
|
|
(166,529
|
)
|
|
(18,533
|
)
|
|
495,469
|
|
||||
Sales and marketing
|
565,328
|
|
|
(86,229
|
)
|
|
(3,316
|
)
|
|
475,783
|
|
||||
General and administrative
|
198,122
|
|
|
(78,265
|
)
|
|
(3,302
|
)
|
|
116,555
|
|
||||
Total costs and expenses
|
$
|
1,927,526
|
|
|
$
|
(378,629
|
)
|
|
$
|
(27,080
|
)
|
|
$
|
1,521,817
|
|
(1)
|
Share-based compensation expenses were
$673 million
,
$478 million
, and
$379 million
for fiscal
2019
,
2018
, and
2017
, respectively. The increase in share-based compensation expenses was primarily due to assumed Adaptive Insights awards and grants of RSUs to existing and new employees.
|
(2)
|
Other operating expenses include employer payroll tax-related items on employee stock transactions of $32 million, $21 million, and $14 million for fiscal
2019
,
2018
, and
2017
, respectively. In addition, other operating expenses include amortization of acquisition-related intangible assets of $49 million, $19 million, and $13 million for fiscal
2019
,
2018
, and
2017
, respectively.
|
(3)
|
See “Non-GAAP Financial Measures” below for further information.
|
*
|
See Note 1 of the notes to consolidated financial statements for further information.
|
|
Year Ended January 31, 2019
|
||||||||||
|
GAAP Operating Expenses
|
|
Share-Based
Compensation Expenses |
|
Other
Operating Expenses |
|
Non-GAAP Operating Expenses
(1)
|
||||
Operating margin
|
(16.4
|
)%
|
|
23.8
|
%
|
|
2.9
|
%
|
|
10.3
|
%
|
|
Year Ended January 31, 2018
|
||||||||||
|
GAAP Operating Expenses
|
|
Share-Based
Compensation Expenses |
|
Other
Operating Expenses |
|
Non-GAAP Operating Expenses
(1)
|
||||
Operating margin
|
(14.1
|
)%
|
|
22.3
|
%
|
|
1.9
|
%
|
|
10.1
|
%
|
|
Year Ended January 31, 2017
|
||||||||||
|
GAAP Operating Expenses
|
|
Share-Based
Compensation Expenses |
|
Other
Operating Expenses |
|
Non-GAAP Operating Expenses
(1)
|
||||
|
*As Adjusted
|
|
|
|
*As Adjusted
|
||||||
Operating margin
|
(22.4
|
)%
|
|
24.0
|
%
|
|
1.7
|
%
|
|
3.3
|
%
|
(1)
|
See “Non-GAAP Financial Measures” below for further information.
|
*
|
See Note 1 of the notes to consolidated financial statements for further information.
|
|
Year Ended January 31,
|
||||||||||
|
2019
|
|
2018
|
|
2017
|
||||||
|
|
|
*As Adjusted
|
||||||||
Net cash provided by (used in):
|
|
|
|
|
|
||||||
Operating activities
|
$
|
606,658
|
|
|
$
|
465,727
|
|
|
$
|
350,626
|
|
Investing activities
|
(842,784
|
)
|
|
(978,980
|
)
|
|
(168,885
|
)
|
|||
Financing activities
|
(256,711
|
)
|
|
1,106,262
|
|
|
59,681
|
|
|||
Effect of exchange rate changes
|
(614
|
)
|
|
751
|
|
|
385
|
|
|||
Net increase (decrease) in cash, cash equivalents, and restricted cash
|
$
|
(493,451
|
)
|
|
$
|
593,760
|
|
|
$
|
241,807
|
|
*
|
See Note 1 of the notes to consolidated financial statements for further information.
|
•
|
Share-Based Compensation Expenses.
Although share-based compensation is an important aspect of the compensation of our employees and executives, management believes it is useful to exclude share-based compensation expenses to better understand the long-term performance of our core business and to facilitate comparison of our results to those of peer companies. Share-based
compensation expenses are determined using a number of factors, including our stock price, volatility, and forfeiture rates that are beyond our control and generally unrelated to operational decisions and performance in any particular period. Further, share-based compensation expenses are not reflective of the value ultimately received by the grant recipients.
|
•
|
Other Operating Expenses.
Other operating expenses includes employer payroll tax-related items on employee stock transactions and amortization of acquisition-related intangible assets. The amount of employer payroll tax-related items on employee stock transactions is dependent on our stock price and other factors that are beyond our control and do not correlate to the operation of the business. For business combinations, we generally allocate a portion of the purchase price to intangible assets. The amount of the allocation is based on estimates and assumptions made by management and is subject to amortization. The amount of purchase price allocated to intangible assets and the term of its related amortization can vary significantly and are unique to each acquisition and thus we do not believe it is reflective of our ongoing operations.
|
|
Payments Due by Period
|
||||||||||||||||||
|
Total
|
|
Less than 1 Year
|
|
1-3 Years
|
|
3-5 Years
|
|
More than 5 Years
|
||||||||||
1.50% Convertible Senior Notes due 2020
(1)
|
$
|
250,000
|
|
|
$
|
—
|
|
|
$
|
250,000
|
|
|
$
|
—
|
|
|
$
|
—
|
|
0.25% Convertible Senior Notes due 2022
(1)
|
1,150,000
|
|
|
—
|
|
|
—
|
|
|
1,150,000
|
|
|
—
|
|
|||||
Aggregate interest obligation
(2)
|
16,008
|
|
|
6,625
|
|
|
7,458
|
|
|
1,925
|
|
|
—
|
|
|||||
Operating lease obligations:
|
|
|
|
|
|
|
|
|
|
||||||||||
Facilities space, not including related party
(3)
|
273,906
|
|
|
64,364
|
|
|
95,916
|
|
|
60,173
|
|
|
53,453
|
|
|||||
Facilities space with related party
|
90,619
|
|
|
12,972
|
|
|
32,740
|
|
|
31,297
|
|
|
13,610
|
|
|||||
Computing infrastructure platform obligations
|
77,667
|
|
|
10,667
|
|
|
28,000
|
|
|
39,000
|
|
|
—
|
|
|||||
Contractual commitments
|
77,399
|
|
|
18,479
|
|
|
25,498
|
|
|
33,422
|
|
|
—
|
|
|||||
Total
|
$
|
1,935,599
|
|
|
$
|
113,107
|
|
|
$
|
439,612
|
|
|
$
|
1,315,817
|
|
|
$
|
67,063
|
|
(1)
|
Represents aggregate principal amount of the Notes, without the effect of associated discounts.
|
(2)
|
Represents estimated aggregate interest obligations for our outstanding Notes that are payable in cash.
|
(3)
|
For the 95-year lease we entered in January 2014, the cash obligations exclude the potential annual rental increases based on the increases to the Consumer Price Index (“CPI”). We believe it is likely we will make higher rent payments over the lease term due to future changes in the CPI.
|
•
|
Identification of the contract, or contracts, with a customer
|
•
|
Identification of the performance obligations in the contract
|
•
|
Determination of the transaction price
|
•
|
Allocation of the transaction price to the performance obligations in the contract
|
•
|
Recognition of revenue when, or as, we satisfy a performance obligation
|
|
January 31,
|
||||||
|
2019
|
|
2018
|
||||
Assets
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
638,554
|
|
|
$
|
1,134,355
|
|
Marketable securities
|
1,139,864
|
|
|
2,133,495
|
|
||
Trade and other receivables, net of allowance for doubtful accounts of $5,965 and $2,212, respectively
|
704,680
|
|
|
528,208
|
|
||
Deferred costs
|
80,809
|
|
|
63,060
|
|
||
Prepaid expenses and other current assets
|
136,689
|
|
|
97,860
|
|
||
Total current assets
|
2,700,596
|
|
|
3,956,978
|
|
||
Property and equipment, net
|
796,907
|
|
|
546,609
|
|
||
Deferred costs, noncurrent
|
183,518
|
|
|
140,509
|
|
||
Acquisition-related intangible assets, net
|
313,240
|
|
|
34,234
|
|
||
Goodwill
|
1,379,125
|
|
|
159,376
|
|
||
Other assets
|
147,360
|
|
|
109,718
|
|
||
Total assets
|
$
|
5,520,746
|
|
|
$
|
4,947,424
|
|
Liabilities and stockholders’ equity
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Accounts payable
|
$
|
29,093
|
|
|
$
|
20,998
|
|
Accrued expenses and other current liabilities
|
123,542
|
|
|
121,879
|
|
||
Accrued compensation
|
207,924
|
|
|
148,247
|
|
||
Unearned revenue
|
1,837,618
|
|
|
1,426,241
|
|
||
Current portion of convertible senior notes, net
|
232,514
|
|
|
341,509
|
|
||
Total current liabilities
|
2,430,691
|
|
|
2,058,874
|
|
||
Convertible senior notes, net
|
972,264
|
|
|
1,149,845
|
|
||
Unearned revenue, noncurrent
|
111,652
|
|
|
110,906
|
|
||
Other liabilities
|
47,697
|
|
|
47,434
|
|
||
Total liabilities
|
3,562,304
|
|
|
3,367,059
|
|
||
Commitments and contingencies (Note 12)
|
|
|
|
||||
Stockholders’ equity:
|
|
|
|
||||
Preferred stock, $0.001 par value; 10 million shares authorized as of January 31, 2019 and 2018; no shares issued and outstanding as of January 31, 2019 and 2018
|
—
|
|
|
—
|
|
||
Class A common stock, $0.001 par value; 750 million shares authorized as of January 31, 2019 and 2018; 157 million and 142 million shares issued and outstanding as of January 31, 2019 and 2018, respectively
|
157
|
|
|
142
|
|
||
Class B common stock, $0.001 par value; 240 million shares authorized as of January 31, 2019 and 2018; 65 million and 70 million shares issued and outstanding as of January 31, 2019 and 2018, respectively
|
64
|
|
|
69
|
|
||
Additional paid-in capital
|
4,105,334
|
|
|
3,354,423
|
|
||
Accumulated other comprehensive income (loss)
|
(809
|
)
|
|
(46,413
|
)
|
||
Accumulated deficit
|
(2,146,304
|
)
|
|
(1,727,856
|
)
|
||
Total stockholders’ equity
|
1,958,442
|
|
|
1,580,365
|
|
||
Total liabilities and stockholders’ equity
|
$
|
5,520,746
|
|
|
$
|
4,947,424
|
|
|
Year Ended January 31,
|
||||||||||
|
2019
|
|
2018
|
|
2017
|
||||||
|
|
|
*As Adjusted
|
||||||||
Revenues:
|
|
|
|
|
|
||||||
Subscription services
|
$
|
2,385,769
|
|
|
$
|
1,787,833
|
|
|
$
|
1,290,733
|
|
Professional services
|
436,411
|
|
|
355,217
|
|
|
283,707
|
|
|||
Total revenues
|
2,822,180
|
|
|
2,143,050
|
|
|
1,574,440
|
|
|||
Costs and expenses
(1)
:
|
|
|
|
|
|
||||||
Costs of subscription services
|
379,877
|
|
|
273,461
|
|
|
213,389
|
|
|||
Costs of professional services
|
455,073
|
|
|
355,952
|
|
|
270,156
|
|
|||
Product development
|
1,211,832
|
|
|
910,584
|
|
|
680,531
|
|
|||
Sales and marketing
|
891,345
|
|
|
683,367
|
|
|
565,328
|
|
|||
General and administrative
|
347,337
|
|
|
222,909
|
|
|
198,122
|
|
|||
Total costs and expenses
|
3,285,464
|
|
|
2,446,273
|
|
|
1,927,526
|
|
|||
Operating loss
|
(463,284
|
)
|
|
(303,223
|
)
|
|
(353,086
|
)
|
|||
Other income (expense), net
|
39,532
|
|
|
(11,563
|
)
|
|
(32,427
|
)
|
|||
Loss before provision for (benefit from) income taxes
|
(423,752
|
)
|
|
(314,786
|
)
|
|
(385,513
|
)
|
|||
Provision for (benefit from) income taxes
|
(5,494
|
)
|
|
6,436
|
|
|
(814
|
)
|
|||
Net loss
|
$
|
(418,258
|
)
|
|
$
|
(321,222
|
)
|
|
$
|
(384,699
|
)
|
Net loss attributable to Class A and Class B common stockholders
|
$
|
(418,258
|
)
|
|
$
|
(321,222
|
)
|
|
$
|
(384,699
|
)
|
Net loss per share attributable to Class A and Class B common stockholders, basic and diluted
|
$
|
(1.93
|
)
|
|
$
|
(1.55
|
)
|
|
$
|
(1.94
|
)
|
Weighted-average shares used to compute net loss per share attributable to Class A and Class B common stockholders
|
216,789
|
|
|
207,774
|
|
|
198,214
|
|
(1)
|
Costs and expenses include share-based compensation expenses as follows:
|
|
Year Ended January 31,
|
||||||||||
|
2019
|
|
2018
|
|
2017
|
||||||
Costs of subscription services
|
$
|
36,754
|
|
|
$
|
26,280
|
|
|
$
|
20,773
|
|
Costs of professional services
|
55,535
|
|
|
37,592
|
|
|
26,833
|
|
|||
Product development
|
320,876
|
|
|
229,819
|
|
|
166,529
|
|
|||
Sales and marketing
|
132,810
|
|
|
100,762
|
|
|
86,229
|
|
|||
General and administrative
|
127,443
|
|
|
83,972
|
|
|
78,265
|
|
|
Year Ended January 31,
|
||||||||||
|
2019
|
|
2018
|
|
2017
|
||||||
|
|
|
*As Adjusted
|
||||||||
Net loss
|
$
|
(418,258
|
)
|
|
$
|
(321,222
|
)
|
|
$
|
(384,699
|
)
|
Other comprehensive income (loss), net of tax:
|
|
|
|
|
|
||||||
Net change in foreign currency translation adjustment
|
(1,635
|
)
|
|
1,581
|
|
|
150
|
|
|||
Net change in unrealized gains (losses) on available-for-sale debt securities, net of tax provision of $660, $0, and $0, respectively
|
2,534
|
|
|
(2,687
|
)
|
|
(388
|
)
|
|||
Net change in market value of effective foreign currency forward exchange contracts, net of tax provision of $6,386, $0, and $0, respectively
|
44,705
|
|
|
(47,378
|
)
|
|
1,510
|
|
|||
Other comprehensive income (loss), net of tax:
|
45,604
|
|
|
(48,484
|
)
|
|
1,272
|
|
|||
Comprehensive loss
|
$
|
(372,654
|
)
|
|
$
|
(369,706
|
)
|
|
$
|
(383,427
|
)
|
|
Year Ended January 31,
|
||||||||||
|
2019
|
|
2018
|
|
2017
|
||||||
|
|
|
*As Adjusted
|
||||||||
Cash flows from operating activities
|
|
|
|
|
|
||||||
Net loss
|
$
|
(418,258
|
)
|
|
$
|
(321,222
|
)
|
|
$
|
(384,699
|
)
|
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
|
|
|
|
|
|
||||||
Depreciation and amortization
|
198,111
|
|
|
135,723
|
|
|
105,825
|
|
|||
Share-based compensation expenses
|
652,465
|
|
|
478,425
|
|
|
372,272
|
|
|||
Amortization of deferred costs
|
71,238
|
|
|
57,562
|
|
|
45,345
|
|
|||
Amortization of debt discount and issuance costs
|
59,974
|
|
|
43,916
|
|
|
26,947
|
|
|||
Other
|
(53,195
|
)
|
|
(8,379
|
)
|
|
23,013
|
|
|||
Changes in operating assets and liabilities, net of business combinations:
|
|
|
|
|
|
||||||
Trade and other receivables, net
|
(160,527
|
)
|
|
(114,613
|
)
|
|
(91,755
|
)
|
|||
Deferred costs
|
(131,996
|
)
|
|
(92,552
|
)
|
|
(82,848
|
)
|
|||
Prepaid expenses and other assets
|
(16,344
|
)
|
|
(68,983
|
)
|
|
(16,794
|
)
|
|||
Accounts payable
|
5,877
|
|
|
(7,249
|
)
|
|
6,336
|
|
|||
Accrued expenses and other liabilities
|
54,895
|
|
|
47,515
|
|
|
23,367
|
|
|||
Unearned revenue
|
344,418
|
|
|
315,584
|
|
|
323,617
|
|
|||
Net cash provided by (used in) operating activities
|
606,658
|
|
|
465,727
|
|
|
350,626
|
|
|||
Cash flows from investing activities
|
|
|
|
|
|
||||||
Purchases of marketable securities
|
(1,989,868
|
)
|
|
(2,515,997
|
)
|
|
(1,917,238
|
)
|
|||
Maturities of marketable securities
|
2,090,693
|
|
|
1,591,554
|
|
|
1,986,031
|
|
|||
Sales of marketable securities
|
949,970
|
|
|
243,727
|
|
|
133,292
|
|
|||
Business combinations, net of cash acquired
|
(1,474,337
|
)
|
|
(5,744
|
)
|
|
(147,879
|
)
|
|||
Owned real estate projects
|
(181,180
|
)
|
|
(124,811
|
)
|
|
(106,997
|
)
|
|||
Capital expenditures, excluding owned real estate projects
|
(202,507
|
)
|
|
(141,536
|
)
|
|
(120,813
|
)
|
|||
Purchases of non-marketable equity and other investments
|
(43,016
|
)
|
|
(16,199
|
)
|
|
(300
|
)
|
|||
Sales and maturities of non-marketable equity and other investments
|
17,911
|
|
|
1,026
|
|
|
5,315
|
|
|||
Purchase of other intangible assets
|
(10,450
|
)
|
|
(11,000
|
)
|
|
—
|
|
|||
Other
|
—
|
|
|
—
|
|
|
(296
|
)
|
|||
Net cash provided by (used in) investing activities
|
(842,784
|
)
|
|
(978,980
|
)
|
|
(168,885
|
)
|
|||
Cash flows from financing activities
|
|
|
|
|
|
||||||
Proceeds from borrowings on convertible senior notes, net of issuance costs
|
—
|
|
|
1,132,101
|
|
|
—
|
|
|||
Proceeds from issuance of warrants
|
—
|
|
|
80,805
|
|
|
—
|
|
|||
Purchase of convertible senior notes hedges
|
—
|
|
|
(175,530
|
)
|
|
—
|
|
|||
Payments on convertible senior notes
|
(350,030
|
)
|
|
—
|
|
|
—
|
|
|||
Proceeds from issuance of common stock from employee equity plans
|
93,567
|
|
|
69,056
|
|
|
58,079
|
|
|||
Other
|
(248
|
)
|
|
(170
|
)
|
|
1,602
|
|
|||
Net cash provided by (used in) financing activities
|
(256,711
|
)
|
|
1,106,262
|
|
|
59,681
|
|
|||
Effect of exchange rate changes
|
(614
|
)
|
|
751
|
|
|
385
|
|
|||
Net increase (decrease) in cash, cash equivalents, and restricted cash
|
(493,451
|
)
|
|
593,760
|
|
|
241,807
|
|
|||
Cash, cash equivalents, and restricted cash at the beginning of period
|
1,135,654
|
|
|
541,894
|
|
|
300,087
|
|
|||
Cash, cash equivalents, and restricted cash at the end of period
|
$
|
642,203
|
|
|
$
|
1,135,654
|
|
|
$
|
541,894
|
|
|
Year Ended January 31,
|
||||||||||
|
2019
|
|
2018
|
|
2017
|
||||||
Supplemental cash flow data
|
|
|
|
|
|
||||||
Cash paid for interest, net of amounts capitalized
|
$
|
38
|
|
|
$
|
76
|
|
|
$
|
3,156
|
|
Cash paid for income taxes
|
6,007
|
|
|
3,418
|
|
|
5,315
|
|
|||
Non-cash investing and financing activities:
|
|
|
|
|
|
||||||
Vesting of early exercised stock options
|
$
|
—
|
|
|
$
|
775
|
|
|
$
|
1,803
|
|
Purchases of property and equipment, accrued but not paid
|
56,308
|
|
|
51,545
|
|
|
27,696
|
|
|||
Non-cash additions to property and equipment
|
8,171
|
|
|
5,396
|
|
|
2,094
|
|
|
January 31,
|
||||||||||
|
2019
|
|
2018
|
|
2017
|
||||||
|
|
|
*As Adjusted
|
||||||||
Reconciliation of cash, cash equivalents, and restricted cash as shown in the statements of cash flows
|
|
|
|
|
|
||||||
Cash and cash equivalents
|
$
|
638,554
|
|
|
$
|
1,134,355
|
|
|
$
|
539,923
|
|
Restricted cash included in Prepaid expenses and other current assets
|
3,519
|
|
|
—
|
|
|
—
|
|
|||
Restricted cash included in Other assets
|
130
|
|
|
1,299
|
|
|
1,971
|
|
|||
Total cash, cash equivalents, and restricted cash
|
$
|
642,203
|
|
|
$
|
1,135,654
|
|
|
$
|
541,894
|
|
|
Common Stock
|
|
Additional
Paid-In Capital |
|
Treasury
Stock |
|
Accumulated
Other Comprehensive Income (Loss) |
|
Accumulated
Deficit |
|
Total
Stockholders’ Equity |
|||||||||||||||
|
Shares
|
|
Amount
|
|
|
|
|
*As Adjusted
|
|
*As Adjusted
|
||||||||||||||||
Balances as of January 31, 2016
|
194,479,350
|
|
|
$
|
193
|
|
|
$
|
2,247,454
|
|
|
$
|
—
|
|
|
$
|
799
|
|
|
$
|
(1,022,166
|
)
|
|
$
|
1,226,280
|
|
Issuance of common stock under employee equity plans
|
4,379,787
|
|
|
4
|
|
|
58,075
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
58,079
|
|
||||||
Vesting of early exercised stock options
|
—
|
|
|
1
|
|
|
1,802
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,803
|
|
||||||
Vested restricted stock units
|
4,084,268
|
|
|
4
|
|
|
(4
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Share-based compensation
|
—
|
|
|
—
|
|
|
372,272
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
372,272
|
|
||||||
Excess tax benefits from share-based compensation
|
—
|
|
|
—
|
|
|
1,226
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,226
|
|
||||||
Other
|
—
|
|
|
—
|
|
|
375
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
375
|
|
||||||
Other comprehensive income (loss)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,272
|
|
|
—
|
|
|
1,272
|
|
||||||
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(384,699
|
)
|
|
(384,699
|
)
|
||||||
Balances as of January 31, 2017
|
202,943,405
|
|
|
$
|
202
|
|
|
$
|
2,681,200
|
|
|
$
|
—
|
|
|
$
|
2,071
|
|
|
$
|
(1,406,865
|
)
|
|
$
|
1,276,608
|
|
Cumulative-effect adjustment to Accumulated deficit related to the adoption of ASU No. 2016-09
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
231
|
|
|
231
|
|
||||||
Issuance of common stock under employee equity plans
|
3,318,514
|
|
|
3
|
|
|
69,052
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
69,055
|
|
||||||
Vesting of early exercised stock options
|
—
|
|
|
—
|
|
|
775
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
775
|
|
||||||
Vested restricted stock units
|
5,715,576
|
|
|
6
|
|
|
(6
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Share-based compensation
|
—
|
|
|
—
|
|
|
478,425
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
478,425
|
|
||||||
Purchase of convertible senior notes hedges
|
—
|
|
|
—
|
|
|
(175,530
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(175,530
|
)
|
||||||
Issuance of warrants
|
—
|
|
|
—
|
|
|
80,805
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
80,805
|
|
||||||
Equity component of convertible senior notes
|
—
|
|
|
—
|
|
|
219,702
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
219,702
|
|
||||||
Other comprehensive income (loss)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(48,484
|
)
|
|
—
|
|
|
(48,484
|
)
|
||||||
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(321,222
|
)
|
|
(321,222
|
)
|
||||||
Balances as of January 31, 2018
|
211,977,495
|
|
|
$
|
211
|
|
|
$
|
3,354,423
|
|
|
$
|
—
|
|
|
$
|
(46,413
|
)
|
|
$
|
(1,727,856
|
)
|
|
$
|
1,580,365
|
|
Cumulative-effect adjustment to Accumulated deficit related to the adoption of ASU No. 2016-16 (see Note 2)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
427
|
|
|
427
|
|
||||||
Issuance of common stock under employee equity plans
|
2,317,463
|
|
|
2
|
|
|
37,752
|
|
|
55,813
|
|
|
—
|
|
|
—
|
|
|
93,567
|
|
||||||
Vested restricted stock units
|
6,273,733
|
|
|
6
|
|
|
(6
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Share-based compensation
|
—
|
|
|
—
|
|
|
652,404
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
652,404
|
|
||||||
Exercise of convertible senior notes hedges
|
—
|
|
|
—
|
|
|
193,680
|
|
|
(193,679
|
)
|
|
—
|
|
|
—
|
|
|
1
|
|
||||||
Settlement of warrants
|
25,990
|
|
|
—
|
|
|
(137,245
|
)
|
|
137,849
|
|
|
—
|
|
|
(617
|
)
|
|
(13
|
)
|
||||||
Settlement of convertible senior notes
|
1,457,382
|
|
|
2
|
|
|
(24
|
)
|
|
17
|
|
|
—
|
|
|
—
|
|
|
(5
|
)
|
||||||
Equity awards assumed in business combination
|
—
|
|
|
—
|
|
|
4,350
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
4,350
|
|
||||||
Other comprehensive income (loss)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
45,604
|
|
|
—
|
|
|
45,604
|
|
||||||
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(418,258
|
)
|
|
(418,258
|
)
|
||||||
Balances as of January 31, 2019
|
222,052,063
|
|
|
$
|
221
|
|
|
$
|
4,105,334
|
|
|
$
|
—
|
|
|
$
|
(809
|
)
|
|
$
|
(2,146,304
|
)
|
|
$
|
1,958,442
|
|
•
|
Identification of the contract, or contracts, with a customer
|
•
|
Identification of the performance obligations in the contract
|
•
|
Determination of the transaction price
|
•
|
Allocation of the transaction price to the performance obligations in the contract
|
•
|
Recognition of revenue when, or as, we satisfy a performance obligation
|
•
|
Risk-Free Interest Rate.
The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the date closest to the grant date for zero-coupon U.S. Treasury notes with maturities approximately equal to the expected term of the stock option grants.
|
•
|
Expected Term.
The expected term represents the period that our share-based award is expected to be outstanding. The expected term for stock options was determined based on the vesting terms, exercise terms, and contractual lives.
|
•
|
Volatility.
The volatility is based on a blend of historical volatility and implied volatility of our common stock. Implied volatility is based on market traded options of our common stock.
|
•
|
Dividend Yield.
The dividend yield is assumed to be zero as we have not paid and do not expect to pay dividends.
|
•
|
Risk-Free Interest Rate.
The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the date closest to the grant date for zero-coupon U.S. Treasury notes with maturities approximately equal to the expected term of the ESPP purchase rights.
|
•
|
Expected Term.
The expected term represents the period that our ESPP is expected to be outstanding. The expected term for the ESPP approximates the offering period.
|
•
|
Volatility.
The volatility is based on a blend of historical volatility and implied volatility of our common stock. Implied volatility is based on market traded options of our common stock.
|
•
|
Dividend Yield.
The dividend yield is assumed to be zero as we have not paid and do not expect to pay dividends.
|
•
|
Marketable equity investments (readily determinable fair values): We are now required to account for changes in fair value of our equity investments previously classified as available-for-sale equity investments in the consolidated statements of operations. We have applied the modified retrospective transition method upon adoption, resulting in no impact to our consolidated financial statements as of February 1, 2018.
|
•
|
Non-marketable equity investments (no readily determinable fair values): We now measure our equity investments previously classified as cost method investments at fair value or the measurement alternative, unless they qualify for the net asset value practical expedient. The measurement alternative is defined as cost, less impairment, adjusted for observable price changes from orderly transactions for identical or similar investments of the same issuer. Adjustments resulting from impairment, fair value, or observable price changes are accounted for in the consolidated statements of operations. We adopted the guidance prospectively effective February 1, 2018, and there was no impact to our consolidated financial statements.
|
|
Amortized Cost
|
|
Unrealized Gains
|
|
Unrealized Losses
|
|
Aggregate Fair Value
|
||||||||
U.S. treasury securities
|
$
|
396,347
|
|
|
$
|
61
|
|
|
$
|
(178
|
)
|
|
$
|
396,230
|
|
U.S. agency obligations
|
241,914
|
|
|
73
|
|
|
(151
|
)
|
|
241,836
|
|
||||
Corporate bonds
|
419,784
|
|
|
336
|
|
|
(352
|
)
|
|
419,768
|
|
||||
Commercial paper
|
254,175
|
|
|
—
|
|
|
(2
|
)
|
|
254,173
|
|
||||
|
$
|
1,312,220
|
|
|
$
|
470
|
|
|
$
|
(683
|
)
|
|
$
|
1,312,007
|
|
Included in cash and cash equivalents
|
$
|
216,270
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
216,270
|
|
Included in marketable securities
|
$
|
1,095,950
|
|
|
$
|
470
|
|
|
$
|
(683
|
)
|
|
$
|
1,095,737
|
|
|
Amortized Cost
|
|
Unrealized Gains
|
|
Unrealized Losses
|
|
Aggregate Fair Value
|
||||||||
U.S. treasury securities
|
$
|
797,977
|
|
|
$
|
—
|
|
|
$
|
(1,142
|
)
|
|
$
|
796,835
|
|
U.S. agency obligations
|
683,551
|
|
|
—
|
|
|
(1,127
|
)
|
|
682,424
|
|
||||
Corporate bonds
|
470,259
|
|
|
16
|
|
|
(1,154
|
)
|
|
469,121
|
|
||||
Commercial paper
|
602,727
|
|
|
—
|
|
|
—
|
|
|
602,727
|
|
||||
|
$
|
2,554,514
|
|
|
$
|
16
|
|
|
$
|
(3,423
|
)
|
|
$
|
2,551,107
|
|
Included in cash and cash equivalents
|
$
|
417,613
|
|
|
$
|
—
|
|
|
$
|
(1
|
)
|
|
$
|
417,612
|
|
Included in marketable securities
|
$
|
2,136,901
|
|
|
$
|
16
|
|
|
$
|
(3,422
|
)
|
|
$
|
2,133,495
|
|
|
Year Ended January 31,
|
||||||||||
|
2019
|
|
2018
|
|
2017
|
||||||
Net realized gains (losses) recognized on equity investments sold
|
$
|
8,333
|
|
|
$
|
720
|
|
|
$
|
65
|
|
Net unrealized gains (losses) recognized on equity investments held
|
32,127
|
|
|
(692
|
)
|
|
(15,000
|
)
|
|||
Total net gains (losses) recognized in other income (expense), net
|
$
|
40,460
|
|
|
$
|
28
|
|
|
$
|
(14,935
|
)
|
Description
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||||||
U.S. treasury securities
|
|
$
|
396,230
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
396,230
|
|
U.S. agency obligations
|
|
—
|
|
|
241,836
|
|
|
—
|
|
|
241,836
|
|
||||
Corporate bonds
|
|
—
|
|
|
419,768
|
|
|
—
|
|
|
419,768
|
|
||||
Commercial paper
|
|
—
|
|
|
254,173
|
|
|
—
|
|
|
254,173
|
|
||||
Money market funds
|
|
237,071
|
|
|
—
|
|
|
—
|
|
|
237,071
|
|
||||
Marketable equity investments
|
|
44,127
|
|
|
—
|
|
|
—
|
|
|
44,127
|
|
||||
Foreign currency derivative assets
|
|
—
|
|
|
22,570
|
|
|
—
|
|
|
22,570
|
|
||||
Total assets
|
|
$
|
677,428
|
|
|
$
|
938,347
|
|
|
$
|
—
|
|
|
$
|
1,615,775
|
|
Foreign currency derivative liabilities
|
|
$
|
—
|
|
|
$
|
3,135
|
|
|
$
|
—
|
|
|
$
|
3,135
|
|
Total liabilities
|
|
$
|
—
|
|
|
$
|
3,135
|
|
|
$
|
—
|
|
|
$
|
3,135
|
|
Description
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||||||
U.S. treasury securities
|
|
$
|
796,835
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
796,835
|
|
U.S. agency obligations
|
|
—
|
|
|
682,424
|
|
|
—
|
|
|
682,424
|
|
||||
Corporate bonds
|
|
—
|
|
|
469,121
|
|
|
—
|
|
|
469,121
|
|
||||
Commercial paper
|
|
—
|
|
|
602,727
|
|
|
—
|
|
|
602,727
|
|
||||
Money market funds
|
|
551,804
|
|
|
—
|
|
|
—
|
|
|
551,804
|
|
||||
Foreign currency derivative assets
|
|
—
|
|
|
98
|
|
|
—
|
|
|
98
|
|
||||
Total assets
|
|
$
|
1,348,639
|
|
|
$
|
1,754,370
|
|
|
$
|
—
|
|
|
$
|
3,103,009
|
|
Foreign currency derivative liabilities
|
|
$
|
—
|
|
|
$
|
32,912
|
|
|
$
|
—
|
|
|
$
|
32,912
|
|
Total liabilities
|
|
$
|
—
|
|
|
$
|
32,912
|
|
|
$
|
—
|
|
|
$
|
32,912
|
|
|
January 31, 2019
|
|
January 31, 2018
|
||||||||||||
|
Net Carrying Amount
|
|
Estimated Fair Value
|
|
Net Carrying Amount
|
|
Estimated Fair Value
|
||||||||
0.75% Convertible senior notes
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
341,509
|
|
|
$
|
504,994
|
|
1.50% Convertible senior notes
|
232,514
|
|
|
557,074
|
|
|
221,378
|
|
|
385,550
|
|
||||
0.25% Convertible senior notes
|
972,264
|
|
|
1,560,228
|
|
|
928,467
|
|
|
1,200,577
|
|
|
January 31,
|
||||||
|
2019
|
|
2018
|
||||
Land
|
$
|
22,694
|
|
|
$
|
8,451
|
|
Buildings
|
433,863
|
|
|
255,093
|
|
||
Computers, equipment, and software
|
539,090
|
|
|
425,025
|
|
||
Furniture and fixtures
|
38,840
|
|
|
34,809
|
|
||
Leasehold improvements
|
162,657
|
|
|
132,209
|
|
||
Property and equipment, gross
(1)
|
1,197,144
|
|
|
855,587
|
|
||
Less accumulated depreciation and amortization
|
(400,237
|
)
|
|
(308,978
|
)
|
||
Property and equipment, net
|
$
|
796,907
|
|
|
$
|
546,609
|
|
(1)
|
Property and equipment, gross included construction-in-progress for owned real estate projects of
$355 million
and
$177 million
that had not yet been placed in service as of January 31,
2019
and
2018
, respectively.
|
|
|
Purchase Consideration
|
||
Cash paid to common and preferred stockholders, warrant holders, and vested option holders
|
|
$
|
1,408,422
|
|
Debt repaid by Workday on behalf of Adaptive Insights
|
|
53,696
|
|
|
Transaction costs paid by Workday on behalf of Adaptive Insights
|
|
23,375
|
|
|
Fair value of assumed Adaptive Insights awards attributable to pre-combination services
(1)
|
|
5,424
|
|
|
Total purchase consideration
|
|
$
|
1,490,917
|
|
(1)
|
The assumed awards were primarily options, which were valued based upon the Black-Scholes option-pricing model.
|
Assets acquired:
|
|
|
||
Cash and cash equivalents
|
|
$
|
37,892
|
|
Trade and other receivables, net
|
|
23,042
|
|
|
Prepaid expenses and other current assets and other assets
|
|
3,183
|
|
|
Property and equipment, net
|
|
2,246
|
|
|
Acquisition-related intangible assets, net
|
|
316,000
|
|
|
Total assets acquired
|
|
$
|
382,363
|
|
|
|
|
||
Liabilities assumed:
|
|
|
||
Accounts payable
|
|
$
|
3,115
|
|
Accrued expenses and other current liabilities
|
|
9,092
|
|
|
Accrued compensation
|
|
13,545
|
|
|
Unearned revenue
(1)
|
|
67,754
|
|
|
Other liabilities
|
|
1,919
|
|
|
Total liabilities assumed
|
|
95,425
|
|
|
Net assets acquired, excluding goodwill
|
|
286,938
|
|
|
Total purchase consideration
|
|
1,490,917
|
|
|
Estimated goodwill
|
|
$
|
1,203,979
|
|
(1)
|
The cost build-up method was used to determine the fair value of unearned revenue.
|
|
Estimated Fair Values
|
|
Estimated Useful Lives
|
||
Trade name
|
$
|
12,000
|
|
|
1.5
|
Developed technology
|
105,000
|
|
|
5.0
|
|
Customer relationships
|
188,000
|
|
|
9.0 - 10.0
|
|
Backlog
|
11,000
|
|
|
2.0
|
|
Total acquisition-related intangible assets
|
$
|
316,000
|
|
|
|
|
Year Ended January 31,
|
||||||
|
2019
|
|
2018
|
||||
|
|
|
|
||||
|
(in thousands, except per share data)
|
||||||
Total revenues
|
$
|
2,886,057
|
|
|
$
|
2,228,917
|
|
Net loss
|
(425,604
|
)
|
|
(529,404
|
)
|
||
Net loss per share, basic and diluted
|
$
|
(1.96
|
)
|
|
$
|
(2.55
|
)
|
Cash and cash equivalents
|
$
|
3,390
|
|
Other tangible assets
|
3,466
|
|
|
Developed technology
|
45,039
|
|
|
Customer relationships
|
1,000
|
|
|
Accounts payable and other liabilities
|
(3,256
|
)
|
|
Unearned revenue
|
(6,000
|
)
|
|
Net assets acquired
|
43,639
|
|
|
Goodwill
|
107,658
|
|
|
Total purchase consideration
|
$
|
151,297
|
|
|
January 31,
|
||||||
|
2019
|
|
2018
|
||||
Developed technology
|
$
|
186,800
|
|
|
$
|
69,700
|
|
Customer relationships
|
189,000
|
|
|
1,000
|
|
||
Trade name
|
12,000
|
|
|
—
|
|
||
Backlog
|
11,000
|
|
|
—
|
|
||
|
398,800
|
|
|
70,700
|
|
||
Less accumulated amortization
|
(85,560
|
)
|
|
(36,466
|
)
|
||
Acquisition-related intangible assets, net
|
$
|
313,240
|
|
|
$
|
34,234
|
|
|
January 31,
|
||||||
|
2019
|
|
2018
|
||||
Non-marketable equity and other investments
|
$
|
50,546
|
|
|
$
|
29,205
|
|
Prepayments for computing infrastructure platforms
|
16,976
|
|
|
13,588
|
|
||
Technology patents, net
|
19,416
|
|
|
11,217
|
|
||
Acquired land leasehold interest, net
|
9,465
|
|
|
9,570
|
|
||
Deposits
|
4,383
|
|
|
4,492
|
|
||
Net deferred tax assets
|
4,544
|
|
|
1,884
|
|
||
Other
|
42,030
|
|
|
39,762
|
|
||
Total
|
$
|
147,360
|
|
|
$
|
109,718
|
|
|
|
Consolidated Balance Sheets Location
|
|
January 31,
|
||||||
|
|
|
2019
|
|
2018
|
|||||
Derivative Assets:
|
|
|
|
|
|
|
||||
Foreign currency forward contracts designated as cash flow hedges
|
|
Prepaid expenses and other current assets
|
|
$
|
12,076
|
|
|
$
|
15
|
|
Foreign currency forward contracts designated as cash flow hedges
|
|
Other assets
|
|
10,015
|
|
|
4
|
|
||
Foreign currency forward contracts not designated as hedges
|
|
Prepaid expenses and other current assets
|
|
459
|
|
|
79
|
|
||
Foreign currency forward contracts not designated as hedges
|
|
Other assets
|
|
20
|
|
|
—
|
|
||
Total Derivative Assets
|
|
|
|
$
|
22,570
|
|
|
$
|
98
|
|
Derivative Liabilities:
|
|
|
|
|
|
|
||||
Foreign currency forward contracts designated as cash flow hedges
|
|
Accrued expenses and other current liabilities
|
|
$
|
983
|
|
|
$
|
18,355
|
|
Foreign currency forward contracts designated as cash flow hedges
|
|
Other liabilities
|
|
706
|
|
|
11,650
|
|
||
Foreign currency forward contracts not designated as hedges
|
|
Accrued expenses and other current liabilities
|
|
1,446
|
|
|
2,805
|
|
||
Foreign currency forward contracts not designated as hedges
|
|
Other liabilities
|
|
—
|
|
|
102
|
|
||
Total Derivative Liabilities
|
|
|
|
$
|
3,135
|
|
|
$
|
32,912
|
|
|
|
Consolidated Statements of Operations and Statements of Comprehensive Loss Locations
|
|
Year Ended January 31,
|
||||||||||
|
|
|
2019
|
|
2018
|
|
2017
|
|||||||
Gains (losses) recognized in OCI (effective portion)
(1)
|
|
Net change in market value of effective foreign currency forward exchange contracts
|
|
$
|
44,079
|
|
|
$
|
(45,869
|
)
|
|
$
|
2,145
|
|
Gains (losses) reclassified from OCI into income (effective portion)
|
|
Revenues
|
|
(7,012
|
)
|
|
1,509
|
|
|
635
|
|
|||
Gains (losses) recognized in income (amount excluded from effectiveness testing and ineffective portion)
|
|
Other income (expense), net
|
|
13,868
|
|
|
1,607
|
|
|
1,386
|
|
(1)
|
Of the total effective portion of foreign currency forward contracts designated as cash flow hedges as of
January 31, 2019
, net gains of
$2 million
are expected to be reclassified out of OCI within the next 12 months.
|
|
|
Consolidated Statements of Operations Location
|
|
Year Ended January 31,
|
||||||||||
Derivative Type
|
|
|
2019
|
|
2018
|
|
2017
|
|||||||
Foreign currency forward contracts not designated as hedges
|
|
Other income (expense), net
|
|
$
|
4,706
|
|
|
$
|
(5,641
|
)
|
|
$
|
662
|
|
|
Gross Amounts of Recognized Assets
|
|
Gross Amounts Offset on the Consolidated Balance Sheets
|
|
Net Amounts of Assets Presented on the Consolidated Balance Sheets
|
|
Gross Amounts Not Offset on the Consolidated Balance Sheets
|
|
Net Assets Exposed
|
||||||||||||||
|
|
|
|
Financial Instruments
|
|
Cash Collateral Received
|
|
||||||||||||||||
Derivative Assets:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Counterparty A
|
$
|
2,305
|
|
|
$
|
—
|
|
|
$
|
2,305
|
|
|
$
|
(78
|
)
|
|
$
|
—
|
|
|
$
|
2,227
|
|
Counterparty B
|
18,053
|
|
|
—
|
|
|
18,053
|
|
|
(1,823
|
)
|
|
—
|
|
|
16,230
|
|
||||||
Counterparty C
|
2,212
|
|
|
—
|
|
|
2,212
|
|
|
(1,234
|
)
|
|
—
|
|
|
978
|
|
||||||
Total
|
$
|
22,570
|
|
|
$
|
—
|
|
|
$
|
22,570
|
|
|
$
|
(3,135
|
)
|
|
$
|
—
|
|
|
$
|
19,435
|
|
|
Gross Amounts of Recognized Liabilities
|
|
Gross Amounts Offset on the Consolidated Balance Sheets
|
|
Net Amounts of Liabilities Presented on the Consolidated Balance Sheets
|
|
Gross Amounts Not Offset on the Consolidated Balance Sheets
|
|
Net Liabilities Exposed
|
||||||||||||||
|
|
|
|
Financial Instruments
|
|
Cash Collateral Pledged
|
|
||||||||||||||||
Derivative Liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Counterparty A
|
$
|
78
|
|
|
$
|
—
|
|
|
$
|
78
|
|
|
$
|
(78
|
)
|
|
$
|
—
|
|
|
$
|
—
|
|
Counterparty B
|
1,823
|
|
|
—
|
|
|
1,823
|
|
|
(1,823
|
)
|
|
—
|
|
|
—
|
|
||||||
Counterparty C
|
1,234
|
|
|
—
|
|
|
1,234
|
|
|
(1,234
|
)
|
|
—
|
|
|
—
|
|
||||||
Total
|
$
|
3,135
|
|
|
$
|
—
|
|
|
$
|
3,135
|
|
|
$
|
(3,135
|
)
|
|
$
|
—
|
|
|
$
|
—
|
|
•
|
if the last reported sale price of Class A common stock for at least
20
trading days during a period of
30
consecutive trading days ending on the last trading day of the immediately preceding fiscal quarter is greater than or equal to
130%
of the conversion price of the respective Notes on each applicable trading day;
|
•
|
during the
five
business day period after any
five
consecutive trading day period in which the trading price per
$1,000
principal amount of the respective Notes for each day of that
five
day consecutive trading day period was less than
98%
of the product of the last reported sale price of Class A common stock and the conversion rate of the respective Notes on such trading day; or
|
•
|
upon the occurrence of specified corporate events, as noted in the Indentures.
|
|
|
January 31, 2019
|
|
January 31, 2018
|
||||||||||||||||||||
|
|
2018 Notes
|
|
2020 Notes
|
|
2022 Notes
|
|
2018 Notes
|
|
2020 Notes
|
|
2022 Notes
|
||||||||||||
Principal amounts:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Principal
|
|
$
|
—
|
|
|
$
|
249,975
|
|
|
$
|
1,150,000
|
|
|
$
|
350,000
|
|
|
$
|
250,000
|
|
|
$
|
1,150,000
|
|
Unamortized debt discount
|
|
—
|
|
|
(16,480
|
)
|
|
(167,249
|
)
|
|
(7,850
|
)
|
|
(26,968
|
)
|
|
(208,188
|
)
|
||||||
Unamortized debt issuance costs
|
|
—
|
|
|
(981
|
)
|
|
(10,487
|
)
|
|
(641
|
)
|
|
(1,654
|
)
|
|
(13,345
|
)
|
||||||
Net carrying amount
|
|
$
|
—
|
|
|
$
|
232,514
|
|
|
$
|
972,264
|
|
|
$
|
341,509
|
|
|
$
|
221,378
|
|
|
$
|
928,467
|
|
Carrying amount of the equity component
(1)
|
|
$
|
74,887
|
|
|
$
|
66,007
|
|
|
$
|
219,702
|
|
|
$
|
74,892
|
|
|
$
|
66,007
|
|
|
$
|
219,702
|
|
(1)
|
Included on the consolidated balance sheets within Additional paid-in capital, net of
$2 million
,
$2 million
, and
$4 million
for the 2018 Notes, 2020 Notes, and 2022 Notes, respectively, in equity issuance costs.
|
|
|
Year Ended January 31,
|
||||||||||||||||||||||||||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||||||||||||||||||||||||||
|
|
2018 Notes
|
|
2020 Notes
|
|
2022 Notes
|
|
2018 Notes
|
|
2020 Notes
|
|
2022 Notes
|
|
2018 Notes
|
|
2020 Notes
|
|
2022 Notes
|
||||||||||||||||||
Contractual interest expense
|
|
$
|
1,196
|
|
|
$
|
3,750
|
|
|
$
|
2,875
|
|
|
$
|
2,625
|
|
|
$
|
3,750
|
|
|
$
|
1,086
|
|
|
$
|
2,625
|
|
|
$
|
3,750
|
|
|
$
|
—
|
|
Interest cost related to amortization of debt issuance costs
|
|
641
|
|
|
673
|
|
|
2,858
|
|
|
1,409
|
|
|
673
|
|
|
1,080
|
|
|
1,408
|
|
|
675
|
|
|
—
|
|
|||||||||
Interest cost related to amortization of the debt discount
|
|
7,850
|
|
|
10,488
|
|
|
40,939
|
|
|
16,530
|
|
|
9,852
|
|
|
14,989
|
|
|
15,607
|
|
|
9,257
|
|
|
—
|
|
|
Operating Leases, not including Related Party
|
|
Operating Leases with Related Party
|
|
Computing Infrastructure Platforms
|
||||||
2020
|
$
|
64,364
|
|
|
$
|
12,972
|
|
|
$
|
10,667
|
|
2021
|
53,116
|
|
|
16,178
|
|
|
14,000
|
|
|||
2022
|
42,800
|
|
|
16,562
|
|
|
14,000
|
|
|||
2023
|
33,114
|
|
|
16,952
|
|
|
19,000
|
|
|||
2024
|
27,059
|
|
|
14,345
|
|
|
20,000
|
|
|||
Thereafter
|
53,453
|
|
|
13,610
|
|
|
—
|
|
|||
Total
|
$
|
273,906
|
|
|
$
|
90,619
|
|
|
$
|
77,667
|
|
|
Number of Shares
|
|
Weighted-Average Grant Date Fair Value
|
|||
Balance as of January 31, 2018
|
12,819,516
|
|
|
$
|
84.77
|
|
RSUs granted
|
6,991,459
|
|
|
129.62
|
|
|
RSUs vested
|
(5,893,133
|
)
|
|
84.58
|
|
|
RSUs forfeited
|
(904,553
|
)
|
|
96.79
|
|
|
Balance as of January 31, 2019
|
13,013,289
|
|
|
$
|
108.12
|
|
|
Outstanding Stock Options
|
|
Weighted-Average Exercise Price
|
|
Aggregate Intrinsic Value
|
|||||
Balance as of January 31, 2018
|
6,595,486
|
|
|
$
|
4.23
|
|
|
$
|
763
|
|
Stock options assumed
|
1,103,942
|
|
|
26.84
|
|
|
|
|||
Stock options exercised
|
(1,872,545
|
)
|
|
5.68
|
|
|
|
|||
Stock options canceled
|
(46,141
|
)
|
|
18.77
|
|
|
|
|||
Balance as of January 31, 2019
|
5,780,742
|
|
|
$
|
7.96
|
|
|
$
|
1,003
|
|
Vested and expected to vest as of January 31, 2019
|
5,706,507
|
|
|
$
|
7.66
|
|
|
$
|
992
|
|
Exercisable as of January 31, 2019
|
4,985,686
|
|
|
$
|
4.74
|
|
|
$
|
881
|
|
|
Year Ended January 31, 2019
|
Expected volatility
|
31.5% – 34.3%
|
Expected term (in years)
|
0.03 – 2.42
|
Risk-free interest rate
|
2.10% – 2.72%
|
Dividend yield
|
—%
|
|
Year Ended January 31,
|
||||
|
2019
|
|
2018
|
|
2017
|
Expected volatility
|
30.9% – 41.7%
|
|
25.3% – 32.0%
|
|
34.5% – 44.5%
|
Expected term (in years)
|
0.5
|
|
0.5
|
|
0.5
|
Risk-free interest rate
|
2.09% – 2.50%
|
|
1.11% – 1.45%
|
|
0.53% – 0.91%
|
Dividend yield
|
—%
|
|
—%
|
|
—%
|
Grant date fair value per share
|
$126.29 – $167.80
|
|
$98.39 – $100.52
|
|
$69.00 – $79.30
|
|
Year Ended January 31,
|
||||||||||
|
2019
|
|
2018
|
|
2017
|
||||||
Interest income
|
$
|
42,461
|
|
|
$
|
25,252
|
|
|
$
|
11,303
|
|
Interest expense
(1)
|
(60,209
|
)
|
|
(44,549
|
)
|
|
(30,103
|
)
|
|||
Other
(2)
|
57,280
|
|
|
7,734
|
|
|
(13,627
|
)
|
|||
Other income (expense), net
|
$
|
39,532
|
|
|
$
|
(11,563
|
)
|
|
$
|
(32,427
|
)
|
(1)
|
Interest expense includes the contractual interest expense related to the 2018 Notes, 2020 Notes, and 2022 Notes and non-cash interest expense related to amortization of the debt discount and debt issuance costs, net of capitalized interest costs (for further information, see Note 11).
|
(2)
|
Other includes the net gains (losses) from our equity investments (for further information, see Note 3).
|
|
Year Ended January 31,
|
||||||||||
|
2019
|
|
2018
|
|
2017
|
||||||
|
|
|
*As Adjusted
|
||||||||
Domestic
|
$
|
(263,505
|
)
|
|
$
|
(85,167
|
)
|
|
$
|
(190,043
|
)
|
Foreign
|
(160,247
|
)
|
|
(229,619
|
)
|
|
(195,470
|
)
|
|||
Total
|
$
|
(423,752
|
)
|
|
$
|
(314,786
|
)
|
|
$
|
(385,513
|
)
|
*
|
For further information, see Note 1.
|
|
Year Ended January 31,
|
||||||||||
|
2019
|
|
2018
|
|
2017
|
||||||
Current:
|
|
|
|
|
|
||||||
Federal
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
213
|
|
State
|
270
|
|
|
177
|
|
|
17
|
|
|||
Foreign
|
6,596
|
|
|
4,251
|
|
|
3,573
|
|
|||
Total
|
6,866
|
|
|
4,428
|
|
|
3,803
|
|
|||
|
|
|
|
|
|
||||||
Deferred:
|
|
|
|
|
|
||||||
Federal
|
(760
|
)
|
|
(535
|
)
|
|
(466
|
)
|
|||
State
|
(2,446
|
)
|
|
(100
|
)
|
|
(52
|
)
|
|||
Foreign
|
(9,154
|
)
|
|
2,643
|
|
|
(4,099
|
)
|
|||
Total
|
(12,360
|
)
|
|
2,008
|
|
|
(4,617
|
)
|
|||
Provision for (benefit from) income taxes
|
$
|
(5,494
|
)
|
|
$
|
6,436
|
|
|
$
|
(814
|
)
|
|
Year Ended January 31,
|
|||||||
|
2019
|
|
2018
|
|
2017
|
|||
|
|
|
*As Adjusted
|
|||||
Federal statutory rate
|
21.0
|
%
|
|
33.8
|
%
|
|
35.0
|
%
|
Effect of:
|
|
|
|
|
|
|||
Foreign income at other than U.S. rates
|
(8.9
|
)%
|
|
(26.5
|
)%
|
|
(18.5
|
)%
|
Intercompany transactions
|
3.7
|
%
|
|
10.2
|
%
|
|
4.2
|
%
|
Research tax credits
|
12.6
|
%
|
|
9.1
|
%
|
|
6.4
|
%
|
State taxes, net of federal benefit
|
(0.1
|
)%
|
|
—
|
%
|
|
—
|
%
|
U.S. corporate tax rate reduction
|
—
|
%
|
|
(81.3
|
)%
|
|
—
|
%
|
Changes in valuation allowance
|
(39.7
|
)%
|
|
33.0
|
%
|
|
(20.4
|
)%
|
Stock compensation
|
12.7
|
%
|
|
20.0
|
%
|
|
(6.1
|
)%
|
Other
|
—
|
%
|
|
(0.4
|
)%
|
|
(0.4
|
)%
|
|
1.3
|
%
|
|
(2.1
|
)%
|
|
0.2
|
%
|
*
|
For further information, see Note 1.
|
|
January 31,
|
||||||
|
2019
|
|
2018
|
||||
Deferred tax assets:
|
|
|
|
||||
Unearned revenue
|
$
|
21,557
|
|
|
$
|
27,934
|
|
Other reserves and accruals
|
23,384
|
|
|
14,945
|
|
||
Federal net operating loss carryforwards
|
602,310
|
|
|
422,235
|
|
||
State and foreign net operating loss carryforwards
|
202,607
|
|
|
81,757
|
|
||
Property and equipment
|
7,168
|
|
|
—
|
|
||
Share-based compensation
|
51,233
|
|
|
39,294
|
|
||
Research and development credits
|
164,555
|
|
|
110,694
|
|
||
Intangibles
|
519,402
|
|
|
—
|
|
||
Other
|
2,208
|
|
|
5,622
|
|
||
|
1,594,424
|
|
|
702,481
|
|
||
Valuation allowance
|
(1,515,945
|
)
|
|
(625,030
|
)
|
||
Deferred tax assets, net of valuation allowance
|
78,479
|
|
|
77,451
|
|
||
Deferred tax liabilities:
|
|
|
|
||||
Intangibles
|
—
|
|
|
(1,453
|
)
|
||
Intercompany transactions
|
(29,885
|
)
|
|
(40,338
|
)
|
||
Other prepaid assets
|
(448
|
)
|
|
(742
|
)
|
||
Deferred commissions
|
(45,277
|
)
|
|
(29,231
|
)
|
||
Property and equipment
|
—
|
|
|
(3,803
|
)
|
||
|
(75,610
|
)
|
|
(75,567
|
)
|
||
Net deferred tax assets
|
$
|
2,869
|
|
|
$
|
1,884
|
|
|
Year Ended January 31,
|
||||||||||
|
2019
|
|
2018
|
|
2017
|
||||||
Unrecognized tax benefits at the beginning of the period
|
$
|
107,849
|
|
|
$
|
116,801
|
|
|
$
|
98,460
|
|
Additions for tax positions taken in prior years
|
10,586
|
|
|
1,500
|
|
|
3,981
|
|
|||
Reductions for tax positions taken in prior years
|
—
|
|
|
(8,121
|
)
|
|
—
|
|
|||
Decrease for tax positions taken in prior years due to federal rate reduction
|
—
|
|
|
(10,062
|
)
|
|
—
|
|
|||
Additions for tax positions related to the current year
|
12,336
|
|
|
7,731
|
|
|
14,475
|
|
|||
Reductions related to a lapse of applicable statute of limitations
|
—
|
|
|
—
|
|
|
(115
|
)
|
|||
Unrecognized tax benefits at the end of the period
|
$
|
130,771
|
|
|
$
|
107,849
|
|
|
$
|
116,801
|
|
|
Year Ended January 31,
|
||||||||||||||||||||||
|
2019
|
|
2018
|
|
2017
|
||||||||||||||||||
|
|
|
*As Adjusted
|
||||||||||||||||||||
|
Class A
|
|
Class B
|
|
Class A
|
|
Class B
|
|
Class A
|
|
Class B
|
||||||||||||
Basic and diluted net loss attributable to Class A and Class B common stockholders per share:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Numerator:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Allocation of distributed net loss attributable to common stockholders
|
$
|
(287,021
|
)
|
|
$
|
(131,237
|
)
|
|
$
|
(208,159
|
)
|
|
$
|
(113,063
|
)
|
|
$
|
(236,946
|
)
|
|
$
|
(147,753
|
)
|
Denominator:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Weighted-average common shares outstanding
|
148,767
|
|
|
68,022
|
|
|
134,642
|
|
|
73,132
|
|
|
122,085
|
|
|
76,129
|
|
||||||
Basic and diluted net loss per share
|
$
|
(1.93
|
)
|
|
$
|
(1.93
|
)
|
|
$
|
(1.55
|
)
|
|
$
|
(1.55
|
)
|
|
$
|
(1.94
|
)
|
|
$
|
(1.94
|
)
|
*
|
For further information, see Note 1.
|
|
January 31,
|
|||||||
|
2019
|
|
2018
|
|
2017
|
|||
Outstanding common stock options
|
5,781
|
|
|
6,595
|
|
|
9,097
|
|
Shares subject to repurchase
|
—
|
|
|
—
|
|
|
110
|
|
Unvested restricted stock awards, units, and PRSUs
|
13,551
|
|
|
13,209
|
|
|
12,155
|
|
Shares related to the convertible senior notes
|
10,876
|
|
|
15,079
|
|
|
7,261
|
|
Shares subject to warrants related to the issuance of convertible senior notes
|
10,876
|
|
|
15,079
|
|
|
7,261
|
|
Shares issuable pursuant to the ESPP
|
402
|
|
|
466
|
|
|
485
|
|
Total
|
41,486
|
|
|
50,428
|
|
|
36,369
|
|
|
Year Ended January 31,
|
||||||||||
|
2019
|
|
2018
|
|
2017
|
||||||
|
|
|
*As Adjusted
|
||||||||
United States
|
$
|
2,173,346
|
|
|
$
|
1,694,347
|
|
|
$
|
1,283,475
|
|
Other countries
|
648,834
|
|
|
448,703
|
|
|
290,965
|
|
|||
Total
|
$
|
2,822,180
|
|
|
$
|
2,143,050
|
|
|
$
|
1,574,440
|
|
*
|
Adjusted to reflect the adoption of ASU No. 2014-09,
Revenue from Contracts with Customers.
For further information, see Note 1.
|
|
January 31,
|
||||||
|
2019
|
|
2018
|
||||
United States
|
$
|
726,801
|
|
|
$
|
479,996
|
|
Ireland
|
55,306
|
|
|
52,904
|
|
||
Other countries
|
14,800
|
|
|
13,709
|
|
||
Total
|
$
|
796,907
|
|
|
$
|
546,609
|
|
|
Quarter ended
|
||||||||||||||||||||||||||||||
|
January 31, 2019
|
|
October 31, 2018
|
|
July 31, 2018
|
|
April 30, 2018
|
|
January 31, 2018
|
|
October 31, 2017
|
|
July 31, 2017
|
|
April 30, 2017
|
||||||||||||||||
Consolidated Statements of Operations Data:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Total revenues
|
$
|
788,628
|
|
|
$
|
743,189
|
|
|
$
|
671,720
|
|
|
$
|
618,643
|
|
|
$
|
582,480
|
|
|
$
|
555,389
|
|
|
$
|
525,320
|
|
|
$
|
479,861
|
|
Operating loss
|
(120,283
|
)
|
|
(182,755
|
)
|
|
(88,982
|
)
|
|
(71,264
|
)
|
|
(81,335
|
)
|
|
(80,059
|
)
|
|
(81,629
|
)
|
|
(60,200
|
)
|
||||||||
Net loss
|
(104,361
|
)
|
|
(153,331
|
)
|
|
(86,156
|
)
|
|
(74,410
|
)
|
|
(89,100
|
)
|
|
(85,546
|
)
|
|
(82,532
|
)
|
|
(64,044
|
)
|
||||||||
Net loss per share, basic and diluted
|
(0.47
|
)
|
|
(0.70
|
)
|
|
(0.40
|
)
|
|
(0.35
|
)
|
|
(0.42
|
)
|
|
(0.41
|
)
|
|
(0.40
|
)
|
|
(0.31
|
)
|
Exhibit
No.
|
|
Exhibit
|
|
Incorporated by Reference
|
|
Filed
Herewith
|
||||||
Form
|
|
File No.
|
|
Filing Date
|
|
Exhibit No.
|
|
|||||
2.1+
|
|
|
8-K
|
|
001-35680
|
|
August 1, 2018
|
|
2.1
|
|
|
|
3.1
|
|
|
10-Q
|
|
001-35680
|
|
December 7, 2012
|
|
3.1
|
|
|
|
3.2
|
|
|
8-K
|
|
001-35680
|
|
June 5, 2015
|
|
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
|
|
|
8-K
|
|
001-35680
|
|
June 17, 2013
|
|
4.2
|
|
|
|
4.4
|
|
|
8-K
|
|
001-35680
|
|
September 15, 2017
|
|
4.1
|
|
|
|
4.5
|
|
|
8-K
|
|
001-35680
|
|
January 2, 2018
|
|
4.3
|
|
|
|
4.6
|
|
|
8-K
|
|
001-35680
|
|
January 2, 2018
|
|
4.4
|
|
|
|
4.7
|
|
|
10-Q
|
|
001-35680
|
|
June 1, 2018
|
|
4.1
|
|
|
|
10.1
|
|
|
S-1
|
|
333-183640
|
|
August 30, 2012
|
|
10.1
|
|
|
|
10.2†
|
|
|
10-Q
|
|
001-35680
|
|
June 5, 2013
|
|
10.12
|
|
|
|
10.3†
|
|
|
S-8
|
|
333-187665
|
|
April 2, 2013
|
|
4.4
|
|
|
|
10.4†
|
|
|
|
|
|
|
|
|
|
|
X
|
|
10.5†
|
|
|
10-Q
|
|
001-35680
|
|
December 3, 2018
|
|
10.1
|
|
|
|
10.6†
|
|
|
S-8
|
|
333-226907
|
|
August 17, 2018
|
|
99.1
|
|
|
|
10.7†
|
|
|
S-8
|
|
333-226907
|
|
August 17, 2018
|
|
99.2
|
|
|
10.8†
|
|
|
S-1
|
|
333-183640
|
|
August 30, 2012
|
|
10.6
|
|
|
|
10.9†
|
|
|
10-K
|
|
001-35680
|
|
March 31, 2014
|
|
10.9
|
|
|
|
10.10†
|
|
|
10-Q
|
|
001-35680
|
|
June 1, 2016
|
|
10.11
|
|
|
|
10.11†
|
|
|
|
|
|
|
|
|
|
|
X
|
|
10.12
|
|
|
S-1
|
|
333-183640
|
|
August 30, 2012
|
|
10.8
|
|
|
|
10.13
|
|
|
10-K
|
|
001-35680
|
|
March 31, 2014
|
|
10.11
|
|
|
|
10.14
|
|
|
S-1/A
|
|
333-183640
|
|
October 1, 2012
|
|
10.11
|
|
|
|
10.15
|
|
|
8-K
|
|
001-35680
|
|
June 17, 2013
|
|
99.3
|
|
|
|
10.16
|
|
|
8-K
|
|
001-35680
|
|
June 17, 2013
|
|
99.4
|
|
|
|
10.17
|
|
|
8-K
|
|
001-35680
|
|
June 24, 2013
|
|
99.3
|
|
|
|
10.18
|
|
|
8-K
|
|
001-35680
|
|
June 24, 2013
|
|
99.4
|
|
|
|
10.19
|
|
|
8-K
|
|
001-35680
|
|
September 15, 2017
|
|
99.1
|
|
|
|
10.20
|
|
|
8-K
|
|
001-35680
|
|
September 15, 2017
|
|
99.2
|
|
|
|
10.21
|
|
|
8-K
|
|
001-35680
|
|
September 15, 2017
|
|
99.3
|
|
|
|
10.22
|
|
|
8-K
|
|
001-35680
|
|
September 15, 2017
|
|
99.4
|
|
|
|
21.1
|
|
|
|
|
|
|
|
|
|
|
X
|
|
23.1
|
|
|
|
|
|
|
|
|
|
|
X
|
|
24.1
|
|
|
|
|
|
|
|
|
|
|
X
|
|
31.1
|
|
|
|
|
|
|
|
|
|
|
X
|
|
31.2
|
|
|
|
|
|
|
|
|
|
|
X
|
32.1*
|
|
|
|
|
|
|
|
|
|
|
X
|
|
32.2*
|
|
|
|
|
|
|
|
|
|
|
X
|
|
101.INS
|
|
XBRL Instance Document
|
|
|
|
|
|
|
|
|
|
X
|
101.SCH
|
|
XBRL Taxonomy Extension Schema Document
|
|
|
|
|
|
|
|
|
|
X
|
101.CAL
|
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
|
|
|
|
|
|
|
|
|
X
|
101.DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
|
|
|
|
|
|
|
|
X
|
101.LAB
|
|
XBRL Taxonomy Extension Label Linkbase Document
|
|
|
|
|
|
|
|
|
|
X
|
101.PRE
|
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
|
|
|
|
|
|
|
|
|
X
|
+
|
The Company has omitted schedules and similar attachments to the merger agreement pursuant to Item 601(b) of Regulation S-K. The Company will furnish a copy of any omitted schedule or similar attachment to the Securities and Exchange Commission upon request.
|
†
|
Indicates a management contract or compensatory plan.
|
*
|
As contemplated by SEC Release No. 33-8212, these exhibits are furnished with this Annual Report on Form 10-K and are not deemed filed with the Securities and Exchange Commission and are not incorporated by reference in any filing of Workday, Inc. under the Securities Act of 1933 or the Exchange Act of 1934, whether made before or after the date hereof and irrespective of any general incorporation language in such filings.
|
|
WORKDAY, INC.
|
|
|
|
/s/ Robynne D. Sisco
|
|
Robynne D. Sisco
Co-President and Chief Financial Officer (Principal Financial and Accounting Officer)
|
Signature
|
|
Title
|
|
Date
|
|
|
|
||
/s/ Aneel Bhusri
|
|
Chief Executive Officer
|
|
March 15, 2019
|
Aneel Bhusri
|
|
(Principal Executive Officer)
|
|
|
|
|
|
||
/s/ Robynne D. Sisco
|
|
Co-President and Chief Financial Officer
|
|
March 15, 2019
|
Robynne D. Sisco
|
|
(Principal Financial and Accounting Officer)
|
|
|
|
|
|
||
/s/ A. George Battle
|
|
Director
|
|
March 15, 2019
|
A. George Battle
|
|
|
|
|
|
|
|
||
/s/ Christa Davies
|
|
Director
|
|
March 15, 2019
|
Christa Davies
|
|
|
|
|
|
|
|
|
|
/s/ David A. Duffield
|
|
Director
|
|
March 15, 2019
|
David A. Duffield
|
|
|
|
|
|
|
|
||
/s/ Carl M. Eschenbach
|
|
Director
|
|
March 15, 2019
|
Carl M. Eschenbach
|
|
|
|
|
|
|
|
||
/s/ Michael M. McNamara
|
|
Director
|
|
March 15, 2019
|
Michael M. McNamara
|
|
|
|
|
|
|
|
|
|
/s/ Michael A. Stankey
|
|
Director
|
|
March 15, 2019
|
Michael A. Stankey
|
|
|
|
|
|
|
|
||
/s/ George J. Still, Jr.
|
|
Director
|
|
March 15, 2019
|
George J. Still, Jr.
|
|
|
|
|
|
|
|
||
/s/ Lee J. Styslinger III
|
|
Director
|
|
March 15, 2019
|
Lee J. Styslinger III
|
|
|
|
|
|
|
|
||
/s/ Jerry Yang
|
|
Director
|
|
March 15, 2019
|
Jerry Yang
|
|
|
|
|
(i)
|
withholding from Participant’s wages or other cash compensation paid to Participant by Workday and/or the Employer; or
|
(ii)
|
withholding from proceeds of the sale of Shares acquired upon settlement of the RSUs either through a voluntary sale or through a mandatory sale arranged by Workday (on Participant’s behalf pursuant to this authorization without further consent); or
|
(iii)
|
withholding in Shares to be issued upon settlement of the RSUs, or
|
(iv)
|
any other arrangement approved by the Committee.
|
(i)
|
the RSUs and the Shares subject to the RSUs are not part of normal or expected compensation or salary for any purpose;
|
(ii)
|
neither Workday, the Employer nor any Parent or Subsidiary will be liable for any foreign exchange rate fluctuation between Participant’s local currency and the United States Dollar that may affect the value of the RSUs or of any amounts due to Participant pursuant to the settlement of the RSUs or the subsequent sale of any Shares acquired upon settlement.
|
1.
|
Workday’s most recent annual financial statements; and
|
2.
|
Workday’s most recent Plan prospectus.
|
(i)
|
withholding from Participant’s wages or other cash compensation paid to Participant by Workday and/or the Employer; or
|
(ii)
|
withholding from proceeds of the sale of Shares acquired upon settlement of the PSUs either through a voluntary sale or through a mandatory sale arranged by Workday (on Participant’s behalf pursuant to this authorization without further consent); or
|
(iii)
|
withholding in Shares to be issued upon settlement of the PSUs; or
|
(iv)
|
any other arrangement approved by the Committee.
|
(i)
|
the PSUs and the Shares subject to the PSUs are not part of normal or expected compensation or salary for any purpose;
|
(ii)
|
neither Workday, the Employer nor any Parent or Subsidiary will be liable for any foreign exchange rate fluctuation between Participant’s local currency and the United States Dollar that may affect the value of the PSUs or of any amounts due to Participant pursuant to the settlement of the PSUs or the subsequent sale of any Shares acquired upon settlement.
|
1.
|
Workday’s most recent annual financial statements; and
|
2.
|
Workday’s most recent Plan prospectus.
|
(i)
|
termination of Participant’s service, whether voluntary or involuntary and with or without cause;
|
(ii)
|
resignation, retirement or death of Participant; or
|
(iii)
|
any attempted transfer by Participant of the Shares, or any interest therein, in violation of this Agreement.
|
(i)
|
withholding from Participant’s wages or other cash compensation paid to Participant by Workday and/or the Employer; or
|
(ii)
|
withholding from proceeds of the sale of Shares acquired at exercise of this Option either through a voluntary sale or through a mandatory sale arranged by Workday (on Participant’s behalf pursuant to this authorization) without further consent; or
|
(iii)
|
withholding in Shares to be issued upon exercise of the Option, provided Workday only withholds from the amount of Shares necessary to satisfy the minimum statutory withholding amount; or
|
(iv)
|
any other arrangement approved by the Committee.
|
9.
|
Nature of Grant
.
By accepting the Option, Participant acknowledges, understands and agrees that:
|
(i)
|
the Option and the Shares subject to the Option are not part of normal or expected compensation or salary for any purpose;
|
(ii)
|
Participant acknowledges and agrees that neither Workday, the Employer nor any Parent or Subsidiary will be liable for any foreign exchange rate fluctuation between Participant’s local currency and the United States Dollar that may affect the value of the Option or of any amounts due to Participant pursuant to the exercise of the Option or the subsequent sale of any Shares acquired upon exercise.
|
CONTRATO DE TRABAJO
|
|
EMPLOYMENT CONTRACT
|
En Madrid, 12 de diciembre 2013
|
|
In Madrid, on December 12, 2013
|
REUNIDOS
|
|
TOGETHER
|
Workday BV, con domicile social en Amsteldijk 166, 1079LH Amsterdam con C.R.I. número 53679660 (la “Compañía”), representada en este acto pór D. Shaun
Redgrave en su calidad de representante legal de la Compañía. |
|
Workday BV with registered office at Amsteldijk 166, 1079LH Amsterdam, with C.R.I. number 53679660 (the “Company”), represented by Mr. Shaun Redgrave acting as legal representative of the Company.
|
D. Luciano Fernandez Gomez mayor de edad, de nactionalidad española, provisto de D.N.I. 11.757.781S, residente en Espana (el “Trabajador” y conjuntamente con la Compañía, las “Partes”).
|
|
D. Mr. Luciano Fernandez Gomez, of legal age, of Spanish nationality, holder of ID 11.767.7815, and resident in Spain (the “Employee” and together with the Company, the “Parties”).
|
MANIFIESTAN
|
|
DECLARE
|
I. Que la Compañía se dedica a proporcionar soluciones de software empresariaI.
|
|
I. The Company is engaged in providing software solutions for Companies.
|
II. Que es de interés de ambas partes establecer una relacíon laboral que se regulará de acuerdo con las siguientes claúsulas.
|
|
II. That it is the wish of both parties to establish a common labour relationship which is subject to the following clauses.
|
III. El Trabajador garantiza (i) que puede asumir la presente relacíon laboral con la Compañía y que no existen acuerdos, restrIcciones o términos, verbales o escritos, quo pudieran vulnerar o entrar en conflicto con los términos y condiciones establecidas en el presente contrato o impedir el desarrollo de sus funciones para la Compañía y (ii) que el cumplimiento y desarrollo de sus funciones y obligaciones conforme al contrato no dará lugar a reclamaciones o responsabilidades para la Compañía. En consecuencia, reconoce que si en cualquier momento la Compañía tuviese conocimiento de la existenía de tales restricciones o se produjese cualquiera de las mencionadas reclamaciones, la Compañía podria imponerle [a correspondiente sanción.
|
|
III. The Employee warrants (i) that he is free take up the present employment relationship with the Company and that there are no agreements, restrictions or terms, whether verbal or written, which could breach or be In conflict with the terms and conditions of your employment with us or prevent or hinder the performance of his duties and (ii) that the obligations pursuant to the Contract will not give rise to any claim against or liability on the part of the Company. As a result, if at any time the Company becomes aware that such restrictions exist or that any such claims are made, he acknowledges that the Company may impose him the corresponding sanction.
|
CLAUSULAS
|
|
CLAUSES
|
1. Duración y períod de prueba.
|
|
1. Duration and trial period.
|
1.1 El Contrato surtira sus efectos a partir del día 1 de Enero de 2014 y con sujeción a la Clausula 15, permanecerá en vigor indefinidamente haste que sea resuelto por cualquiera de las partes.
|
|
1.1 The Contract shall be effective as from January 1, 2014 and, subject to Clause 15 will continue thereafter until terminated by either party.
|
2. Puesto de trabajo
|
|
2. Position
|
2.1 El Trabajador prestará servicios por cuenta y dentro del ámbito de dirección de la Compañía coma Presidente de la región EMEA.
|
|
2.1 The Employee will render his services in name of and within the organization and management of the Company as President EMEA.
|
2.2 En el desempeño de su trabajo, el Trabajador se oblige a actuar diligentemente, velando en todo momenta por el interés de la Compañía, realizando cuantas tareas y funciones le sean encomendadas.
|
|
2.2 The Employee commits to render services in a diligent manner, always looking after the Company's Interest and undertaking all tasks and duties entrusted to him.
|
2.3 La ejecución del trabajo convenido se llevara a cabo bajo la dirección de la Compañía, a de las personas que esta puede designer. En particular, el Trabajador reportará a la persona o puesto que en cada momento designe la Compañía.
|
|
2.3 The work agreed shall be carried out under the direction of the Company or the persons who the Company may designate. In particular, the Employee will report to any other Individual or position the Company may determine at any moment.
|
3. Pacto de exclusividad
|
|
3. Exclusivity commitment
|
3.1 De acuerdo con lo establecido en el Código de Conducta de la Compañía si en cualquier momento usted mantiene una relación ye sea laboral, por cuenta propia, coma directivo o consultor que implique que se encuentra trabajando fuera de la Compañía, usted deberá notificarlo or escrito a departamento de recursos humanos de la Compañía para que la misma determine si existe o no un conflicto de intereses. En el caso de que exista un conflicto de intereses, la Compañía le podrá requerir que ponga fin a la citada actividad.
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3.1 In accordance with the Company's Code of Conduct, if you are engaged in any form of employment, self-employment, directorships or consulting work outside of the Company, you must notify the Human Resources Department In writing so that the Company can determine whether a conflict of Interest exists. In the event of a conflict of Interest, the Company may ask that you terminate such outside activity.
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4. Lugar y horario de trabajo
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4. Place and hours of work
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4.1 El Trabajador prestará sus servicios desde su lugar de residencia. No obstante, la Compañía a se reserva el derecho a cambiar el centro de trabajo del Trabajador a otros lugares, si ello fuera considerado necesario para el adecuado desarrollo de sus funciones, dentro de los límites que establece el artículo 40 del Estatuto de los Trabajadores.
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4.1 The Employee shall perform his services from his home address. However, the Company reserves the right to change the Employee's workplace to other locations should this be considered necessary for the performance of his duties, within the limits established in article 40 of the Worker's Statute.
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4.2 Sin perjuicio de lo anterior, el Trabajador acepta desplazarse temporalmente a cualquier lugar en España o en el extranjero cuando ello sea necesario para el desempeño de sus funciones.
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4.2 Notwithstanding the above, the Employee accepts to make the necessary trips to any domestic or foreign location should this be considered necessary for the performance of his duties.
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4.3 El horario de trabajo del Trabajador será el actualmente vigente en la Compañía. Sin embargo, teniendo en cuenta la responsabilidad del puesto que desempeña el Trabajador, el horario se aplicara con flexibilidad para el adecuado cumplimiento de las necesidades de negocio, siempre dentro de los limites establecidos por el marco normativo.
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4.3 The Employee's hours of work will be those currently established In the Company. However, in view of the responsibility of the Employee’s position, the timetable will be applied with flexibility In order to guarantee an adequate fulfillment business' needs, always within the limits of the statutory provisions.
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5. Vacaciones
5.1 El Trabajador tendrá derecho a 23 días laborables de vacaciones anuales, además de los festivos correspondientes, pudiéndolos disfrutar en varios períodos, según las necesidades y de acuerdo con la Compañía. Las vacaciones anuales deberán ser planificadas por anticipado y acordadas y aprobadas por la Compañía.
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5. Annual leave
5.1 The Employee shall be entitled to 23 working days paid holiday per year, plus any public holidays, which can be enjoyed over several periods of time, according to the needs of the Company and as agreed by the Parties. Annual leave has to be planned In advance and agreed and approved by the Company.
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5.2 Este derecho se aplicara de modo prorrateado en el presente alio natural.
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5.2 This right will apply on pro-rata basis in the present calendar year.
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6. Retribución
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6. Remuneration
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6.1 Remuneración fija
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6.1 Fixed remuneration
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6.1.1 El Trabajador percibirá una remuneratión de 285.000 Euros brutos anuales, que se abonará en 12mensuaridades.
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6.1.1. The fixed remuneration of the Employee shall be an annual salary of gross Euros 285,000. This amount shall be payable in 12 monthly installments.
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6.2 Retribución variable
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6.2 Variable remuneration
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6.2.1 El Trabajador podrá percibir una retribución anual variable de 285.000 euros brutos que será calculada de
acuerdo con los objetivos que se fijaran anualmente conforme a lo establecido en la Politica de la Compañía vigente en cada momento. El pago de la retribución variable sera trimestral |
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6.2.1. The Employee can qualify for an annual variable remuneration in an amount of gross Euros 285,000 per year, which will be calculated in accordance to the objectives fixed on an annual basis following the Company Policy in force at the time. The payment of the variable remuneration will be quarterly in arrears
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6.2.2 La percepción de esta retribución variable en un determinado ejercicio no consolida ningún derecho a favor del Trabajador a percibirio en los ejercicios sucesivos, sea por el mismo, inferior o superior importe, ya que su concesió está reservada a la libre discrecionalidad de la Compañía en función de sus resultados, los del Grupo y la dedicación, esfuerzo y resultados obtenidos por el Trabajador.
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6.2.2 Payment of this variable remuneration on an specific year will not constitute a right to receive such payments in future years, whether for the same, higher or lower amounts, as its granting is reserved to the Company's absolute discretion depending on the results obtained by the Company and the Group and the dedication, efforts and results obtained by the Employee.
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6.3 Prima de fichaje
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6.3 Sign-on bonus
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6.3.1 El Trabajador recibirá una centidad de 325.000 Euros brutos como prima de fichaje. El primer 50% de dicha cantidad (es decir, 162,500 euros brutos) se abonará en los 30 días siguientes al inicio de su relación laboral, y al 50% restante se abonará a los 30 días de que se hayan cumplido 6 meses del inicio de la relación laboral, condiclonado a quo el Trabajador permanezca empleado por is Compallia en ese momenta. DIcha cantidad que la Empresa abona al Trabajador con caracter excepclonal a fin de premier su incorporacion a la Empresa, no se volvera a pager en el futuro y en el supuesto de extincion del presente Contrato, per cualquier cause que se produzca, no sera tomade en consideracion pare calcular la correspondiente Indemnizacion, si es quo la misma resultase legalmente obligatorta, al no retribuir esta prima el trabajo del Trabajador en favor de la Empresa.
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6.3.1. The Employee will be paid the amount of gross Euros 325,000 as a sign on bonus. The first 50% (i.e. gross Euros 162,500) will be payable within 30 days of your commencement of employment and the second 50% will be payable within 30 days of the six month anniversary of your commencement of employment provided that you remain an employee of Workday at that time. This bonus, which is paid to the Employee as an extraordinary award for his Incorporation to the Company, will not be repeated again in the future. In case of termination of the contract, for any cause, this sign on bonus will not be taken into account for the calculation of the severance (if legally applicable), as it does not constitute a payment for the services provided by the Employee.
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6.4 Retribution en especie
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6.4 Remuneration in kind
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6.4.1. Gastos de automóvil
El Trabajador tendra derecho a la cantidad de 16.800 Euros brutos anuales en concept° de gastos de vehiculo.
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6.4.1. Car allowance
The Employee will be entitled to a car allowance amounting to gross Euros 16,800 per year.
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6.4.2. Segura medico privado, seguro de incapacidad y seguro de vida
El Trabajadar tendrá derecho a un seguro médico privado, un seguro de incapacidad y un seguro de vida, que serán o blen contratados directamente por la Compañía en favor del Trabajador, o contratados directamente por el Trabajador y reembolsados al mismo por la Compañía, en los términos y con los limites que se pacten con entre el Trabajador y la Compañía, y de acuerdo con las prácticas habituales de Workday en EMEA.
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6.4.2. Health insurance, disability and life insurance
The Employee will be entitled to a private health insurance, disability insurance and life insurance, which will be either took by the Company on his benefit, or took directly by the Employee, in which case the Company shall refund the expenses and premiums derived thereof, in accordance with the terms and limits agreed between the Employee and the Company, and with Workday’s standard practices in EMEA.
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6.4.3. Contribución al Plan de Pensiones
El Trabajador tendrá derecho a una aportación anual a su plan de pensiones por un importe bruto equivalente al 12% de la suma de su salario base (fijado en la cláusula 6.1 anterior) y su remuneración variable (fijada en la cláusula 6.2 anterior), o a una “prima de contibución al Plan de Pensiones”, en el mismo importe bruto -12% de la suma de su salario base fijado en la cláusula 6.1 anterior y su remuneración variable fijada en la cláusula 6.2 anterior- hasta que el plan de pensiones sea constituldo. El cálculo de la aportación del 12% al plan de pensiones de la suma del salario fijo y variable estará siempre referido a los salarios fijo y variables vigentes/actualizados en cada período anual
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6.4.3 Pension contribution
The Employee will be entitled to a yearly pension contribution in his pension plan in the gross amount of 12% of the sum of his base salary (as per clause 6.1.above) and annual bonus (as per clause 6.2. above), or a yearly “pension contribution award” by that same gross amount -12% of the sum of his base salary (as per clause 6.1. above) and annual bonus (as per clause 6.2, above)- until the pension plan is properly set up. This 12% gross amount contribution to the pension plan as a calculation of the sum of the base and annual bonus salary will always be done according to the current/updated salary amounts governing in each yearly period
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6.4 Deducciones
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6.5 Withholdings
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6.3.2 De los importes menclonados en la presente Cláusula se deducirán las retenciones a cuenta del Impuesto sobre la Renta de las Personas Físicas, las cuotas de la Seguridad Social a cargo del Trabajador y cualesquiera otras que procedan de acuerdo con la legislación vigente.
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Withholdings on account of Personal Income Tax and Social Security contributions for the Employee, as well as any other established in the applicable legislation, shall be deducted from the compensation agreed upon in this Clause.
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7. Gastos de viaje y mudanza
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7. Travel and relocation expenses
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7.1 En sus viajes y desplazamientos y en las atenciones e iniciativas sociales que el desempeño del puesto exija, el Trabajador segulrá, conforme a los criterios generales de la Compañía, el sistema de gastos pagados contra justificación de todos aquellos que resulten adecuados pare el desempeño de sus funclones.
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7.1 In his travels and journeys and in any corporate entertainment functions that may be required for the performance of his duties, the Employee shall follow the Company’s travel expenses reimbursement procedure, providing evidence as to any reasonable expenses that may have been incurred in the performance of his duties.
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7.2 En caso de que el Trabajador sea trasladado a Reino Unido en el curso de su prestación de servicios para la Empresa tendrá derecho a recibir apoyo económico por parte de la misma para cubrir los gastos de alojamiento y colegio, así como los generados por la mudanza o gastos externos de agencia soporte en este traslado, durante dos años sin que puedan exceder de 392.593 Euros brutos.
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7.2 In case of a relocation of the Employee to the United Kingdom during his rendering of services for the Company he will be entitled to obtain relocation support of two years housing allowance and school expenses, as well as those costs generated by the movement of goods or external agent fees support for the relocation purposes not to exceed gross Euros 392,593.
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8. Ausencia y enfermedad
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8. Absence and sickness
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8.1 En caso de ausencia del trabajo por enfermedad o cualquier otra causa inevitable, el Trabajador deberá notificarlo a la Compañía en el primer día de ausencia, sin perjuicio de las correspondientés notificaciones legales y procedimientos aplicables según la normative de la Seguridad Social. En todo todo caso las razones de la ausencia deberán ser justificadas.
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8.1 In case of absence from work through illness or other unavoidable cause, the Employee must notify it to the Company, on the first day of absence, notwithstanding the relevant applicable statutory notifications and procedures under the Social Security. In all cases, the reasons for absence must be justified.
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9. Seguridad y Salud
El
Trabajador se compromete a cumplir y hacer cumplir todas las disposiciones legales y convencionales que en materia de higiene, seguridad y salud en el trabajo que legal o convencionalmente resulten de aplicación en cada momento.
En cumplimiento de lo dispuesto en dichas disposiciones, el Trabajador se compromete expresamente a cooperar plenamente en cualquier tipo de evaluación de riesgos del puesto de trabajo, así coma otras medidas que puedan resultar de aplicación en la oficina de su domicillo particular de conformidad con las referidas disposiciones.
A fin de garantizar el cumplimiento de las obligaciones contenidas en la presente cláusula 9, en caso de que el Trabajador camble de domicilio deberá notificar a la Compañía su nueva dirección en el plaza de 15 días.
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9. Health and Safety
The Employee agrees to comply and cause others to comply with all hygiene and health and safety labour regulations, legally or conventionally applicable at any time.
In compliance with such regulations, the Employee expressly agrees to fully cooperate in any workplace risk evaluation or other reasonable preventive measures that may be required at his home office under the above mentioned regulations.
In order to guarantee the fulfilment of the obligations provided for in this clause 9, if the Employee decides to move he will have to notify the Company his new address within 15 days.
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10. Protección de datos
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10. Data protection
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10.1 El Trabajador por la presente declara que conoce y acepta que la Compañía u otras Compañías del Grupo Workday tratarán datos relativos a él (que la Compañía podrá recoger por escrito, electrónicamento o de cualquier otro modo) incluyendo, a meros efectos enunciativos, el nombre, dirección particular, número de tarjeta de la seguridad social, permisos de trabajo y residencia, experiencia, salario y beneficios (los “Datos Personales”).
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10.1 The Employee hereby agrees and gives his consent to the processing of personal data by the Company or other companies of the Workday Group relating to the Employee (which the Company may obtain in any form, whether in writing, electronically or otherwise), including but not limited to, the name, address, number of the social security card, residence and work permits, expertise, salary and benefits (“Personal Data”).
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10.2 Los Datos Personales serán incorporados a un fichero cuyo responsible es la Compañía. El domicilio social de la Compañía consta en el encabezamiento del presente contrato.
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10.2 The Personal Data will be included in a data file whose controller is the Company. The Company’s registered address is included in the heading of this contract.
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10.3 Los Datos Personales se tratarán para gestionar la relación empleador/empleado, incluyendo sin carácter limitativo las siguientes finalidades: salario y revisiones salariales, y otros beneficios (tales como planes de pensiones, seguro de vida, médico y de viajes y planes de opciones sobre acciones), así como con el objeto de mejorar los sistemas de seguridad y cumplimiento de obligaciones contractuales y legales (tales como retenciones de Impuesto sobre la Renta de Personas Fisicas y contribuciones a la Seguridad Social) y mantenimiento de registros de baja por enfermedad y permisos de paternidad a los meros efectos del cumpilmiento de obligaciones laborales y de Seguridad Social.
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10.3 Personal Data is processed for the management of the employer/employee relationship, including, but not limited to the following purposes: the payment and review of salaries and other benefits (such as pension, stock option plans and medical, life and travel insurance), facilitating appraisals, maintaining sickness and absence records, exclusively for the mere accomplishment of labour and Social Security obligations, and also more generally to maintain and improve security systems and ensure compliance with its legal and contractual obligations such as income tax withholdings and social security contributions.
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10.4 La Compañía solicitará periódicamente al Trabajador la revisión y actualización de los Datos Personales que sobre él se mantengan en el fichero de trabajadores de la Compañía. No obstante lo anterior, el Trabajador tendrá el derecho a revisar, rectificar y actualizar sus Datos Personales en cualquier momento, a acceder a ellos, cancelarios y a oponerse a cualquier tratamiento que no se encontrase justificado por el mantenimiento de la relación laboral medlante solicitud dirigida al Departamento de Recursos Humanos de la Compañía, a la dirección indicada en el encabezamiento del presente contrato.
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10.4 The Company shall ask from time to time the Employee to review and update the Personal Data held in the Company's employee database. Notwithstanding the foregoing the Employee will have the right to periodically review, rectify and update his Personal Data at any time, have access to them, cancel them and oppose to any processing which was not justified by the employment relationship through request to the Human Resources Department of the Company, sent to the address indicated in the heading of this contract.
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10.5 El Trabajador conoce y acepta expresamente que la Compañía pueda en cualquler memento poner los Datos Personales a disposición de otras Compañías del Grupo Workday en otros países, ya seán compañías localizadas en la Unión Europea o en otros países, algunos de los cuales pueden no ofrecer un nivel de protección equivalente al que existe en la Unión. Europea, pare fines de gestión de recursos humanos dentro del Grupo Workday.
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10.5 The Employee expressly acknowledges and agrees that the Company may periodically make available the Personal Data to other Companies of the Workday Group in other countries, which may be located in the European Union and elsewhere, including countries that may not offer, an equivalent level of protection to that applicable in the European Union, for purposes of human resources management within the Workday Group.
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10.6 El Trabajador asimismo declare conocer y aceptar que la Cornparlia puede requerir poner los Dates Personales o parte de eilos a disposlcian del personal de Workday que necesite conocer cliches Dates Personales, de las autorldades competentes (I nci uyenclo a u torida des fiscales), futuros empleadores y pote ncia les co mpradores de la Compafila o de cualqulera de sus actives c negoclos, contables, auditereS, abogados y otros asesores externos, y terceros, comp por ejemplo entidades financieras gestoras de planes de opclones sobre acetones, localizados en la Union Europea o en otros paises, algunos de Ios cuales pueden no ofrecer un nivel de proteccion equivalente al que existe en la Union Europea.
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10.6 Moreover, the Employee acknowledges and agrees that the Company may, from time to time, need to make available some or all of the Personal Data to Workday personnel with a need to know such Personal Data, legal and regulatory authorities (including the tax authorities), future employers, potential purchasers of the Company or any of its assets or business, to its accountants, auditors, lawyers and other outside professional advisers and to third parties supplying products or services to the Company, such as stock options brokers, located in the European Union or elsewhere, including countries that may not offer an equivalent level of protection to that applicable in the European Union.
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10.7 A los efectos de este Cláusula, se entenderá por “datos personales” cualquier información relacionada con el Trabajador y necesaria para el cumplimiento de las finalidades del tratamiento anteriormente mencionadas, como su nombre y apellidos, edad, estado civil, datos de contacto personales, número de hijos, datos bancarlos, antigüedad, remuneración, evaluaciones de desempeño, puestos y actividades desempeñadas en la Compañía, curriculum vitae, historial laboral, controles de acceso, participación en cursos de formación, seguros médicos, etc.
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10.7 For the purposes of this Clause “personal data” shall be understood to include all the information relating to the Employee which is necessary to carry out the processing mentioned above, such as his full name, age, marital status, personal contact information, number of children, bank account data, seniority, compensation, performance evaluations, posts and activities carried out in the Company, curriculum vitae, employment history, access control records, participation in training courses, medical Insurance, etc.
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11. Variación de datos
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11. Change of details
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11.1 El Trabajador deberá notificar a la Compañía por escrito cualquier cambio de estado y de datos personales o profesionales que pudleran ser relevantes a los efectos de la relación laboral, o para el cumplimiento de las obligaciones de Seguridad Social o fiscales de la Compañía, en el plazo de un mes desde el acaecimiento del citado camblo. Toda faita de comunicación de esta nueva información eximirá a la Compañía de cualquier responsabilidad y hará que el Trabajador sea responsable de indemnizar a la Compañía por cualquier daño que pudlera corresponderie.
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11.1 The Employee must notify the Company in writing of any change of status, personal or professional details that might be relevant for the purposes of the employment relationship, or for the Company's Social Security or tax obligations, within one month of such change. Any failure to provide this new information shall exempt the Company from liability, and make the Employee responsible for compensating the Company for any damages to which it might be entitled.
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12. Propiedad intelectual e industrial
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12. Intellectual property
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12.1 El Trabajador reconoce que los derechos de propiedad industrial e intelectual derivados de los resultados del trabajo realized° por él mismo, solo o en colaboración, durante la vigencia de su contrato y que (I) sean fruto de la actividad explicita o implicitamente constitutiva del mismo o con elle relacionada o (II) en ejecución de sus funciones a (III) sigulendo las instrucciones de la Compañía, pertenecen a la Compañía de forma exclusiva, durante toda su vigencia, en todo su alcance material, en todos los Estados, por el máximo tiempo permitido, en todas las modalidades de explotación y con la facultad de transmitirios a terceros, en cumplimiento con los terminus expresados por la Ley 11/1986 de Patentes, por el RDLeg 1/1996 que aprueba el Texto Refundido de la Ley de Propledad Intelectual y por la normativa especial o sectorial que resulte aplicable.
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12.1 The Employee acknowledges that Rights of Intellectual Property derived from the work performed by him/her, as an individual or in collaboration, throughout, the duration of his/her contract and that (i) are the result of the activities directly or indirectly of subject-matter of the contract or related thereto or (ii) are in execution of his/her duties or (iii) under instruction of the Company, belong exclusively to the Company, throughout the duration of these rights, for the maximum extent, in all jurisdictions, for the maximum period of time permissible, in all modes of exploitation and with the ability to subsequent assignment to third parties, in accordance with the terms expressed in Patent Law 11/1986 (Ley 11/1986 de Patentes), Royal Legislative Decree 1/1996 (Real Decreto Legislative 1/1996) adopting the Modified Text of the law of Intellectual Property (Texto Refundido de la Ley de Propledad Intelectual) and any and all applicable additional or sectoral regulations.
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12.2 El Trabajador deberá prestar su colaboración, sin percibir remuneración adicional a aquella pactada expresamente en este Contrato a descrita en las normas especiales o sectoriales que resulten aplicables, en la medida necesaria para la efectividad de los derechos de la Compañía inciuyendo la firma y otorgamiento de todos aquellos documentos o la realización de todos aquellos actos necesarlos para que la Compañía pueda solicitar u obtener el registro en cualquier Estado de los derechos de propledad industrial e intelectual descritos en el párrafo tercero de esta cláusula. El Trabajador se abstendrá de cualquier actuación que pueda redundar en detrimento de tales derechos. Igualmente, el Trabajador no entregará a Workday ningún document o información confidendal pertenenciente a terceras partes.
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12.2 The Employee must guarantee their cooperation/assistance, without receiving additional compensation to that expressly and explicitly agreed upon in this contract or described in other additional or sectoral provisions that may prove applicable, to the degree required for the effectiveness of the rights of the Company including the signing and execution of all such documents or the performance of all such acts necessary for the Company’s ability to seek or obtain in any jurisdiction the registration of Intellectual property rights outlined in the third paragraph of this clause. The Employee shall abstain from any act which may, in any way, adversely affect the attainment and preservation of such rights. In addition, the Employee will not provide Workday with any documents, records or confidential Information belonging to any other parties.
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12.3 Por derechos de propiedad industrial e intelectual se entenderán (i) patentes, modelos de utilidad, certificados complementarios de protección, obtenclones vegetales, invenclones, diseños industriales, derechos de autor y derechos conexos, bases de datos, marcas y nombres comerciales registrados o no, denominaciones sociales y el derecho a solicitar su registro (ii) derechos sobre nombres de dominlo (iii) secretos comerciales o know-how (iv) solicitudes, extensiones y renovaciones en relación con cualquiera de los derechos anteriores (v) cualquier otro derecho de naturaleza similar o que tenga un efecto equivalente en cualquier Estado y (vi) cualquier licencia a derecho real o contractual sobre cualquier derecho de propiedad intelectual o industrial.
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12.3 Intellectual Property Rights means (i) patents, utility models, supplementary protections certificates, plant varieties, inventions, designs, copyright and related or neighboring rights, database rights, trade marks and related goodwill, trade names and related - goodwill, company names, whether registered or unregistered, and rights to apply for registration; (ii) proprietary rights in domain names; (iii) Know How; (iv) applications, extensions and renewals in relation to any of these rights; (v) all other rights of a similar nature or having an equivalent effect anywhere in the world and (vi) any license or right, contractual or in rem, in any intellectual property right.
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13. Equipos facilitados al Trabajador
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13. Equipment provided to the Employee
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13.1 El Trabajador queda obligado a culdar con la máxima diligencia de todos los documentos, herramlentas y materiales que reciba de la Compañía y a conservarios en un buen estado.
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13.1 The Employee must make his best efforts to look after all documents, equipment and materials he may receive from the Company, and to preserve them in good condition.
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13.2 La utilización de los documentos, herramientas y materiales que la Compañía proporcione al Trabajador para el desempeño de su puesto de trabajo será conforme al Código de Conducta de la Compañía.
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13.2 The use of these tools shall be solely and exclusively for corporate and professional purposes, as a work tool or instrument for the performance of the duties inherent to his work post, in accordance with the Company's Code of Conduct.
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13.3 Dada la condición de herramlentas de trabajo, la Compañía se reserve el derecho a adopter las correspondientes medidas de control, que el Trabajador acepta. En caso de detectarse que el Trabajador realiza un uso indebido de las mismas, o si realiza liamadas, visualizae a descarga, envíe o recibe el material anteriormente descrito utilizando un teléfono o equipo informático proporcionado por la Compañía, se adoptarán las medidas disciplinarias correspondientes, incluyendo -en su caso- el despido. Iguaimente, la Compañía podrá iniciar las acciones correspondientes coma consecuencia de los daños o perjuicios, directos o indirectos, que pudieran derivarse del incumplimiento de las disposiciones en esta materia.
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13.3 By virtue of said work tools status, the Company expressly reserves its right to adopt the corresponding control measures, which the Employee accepts. In the event that undue use of these work tools by the Employee is detected, if he makes calls, views or downloads, sends or receives the material indicated above using a telephone or computer provided by the Company, the pertinent disciplinary measures may be adopted, including dismissal. Equally, the Company may bring the corresponding action as a result of damages, be they direct or indirect, suffered due to any infringement on this matter.
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14. Normativa interna y procedimientos
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14. Company rules and procedures
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14.1 El Trabajador asume la obligación de cumplimiento de las normativas y políticas internas y procedimientas de la Compañía y el Grupo Workday; los cuales bien se ecuentran a disposición del Trabajador tanto en las páginas web internas como públicas de la misma o bien serán comunicados de modo independiente. El Trabajador también asume el cumplimiento de cualquier otra normativa interna que entre en vigor durante la prestación de sus servicios laborales.
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14.1 The Employee undertakes the obligation to be bound by the internal rules, policies and procedures of the Company and the Workday Group, which are posted on Workday's internal or external website or will be communicated to him separately. The Employee also agrees that he will also be bound by any other rules that may come into force during his employment.
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15. Confidencialidad
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15. Confidentiality
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15.1 Las partes asuman y coinciden en que la esencia del negocio de la Compañía se basa en la garantía de una absoluta confidencialidad. El Trabajador se compromete a no revelar a ninguna persona o entidad, durante la vigencia de este Contrato y después de la finalización del mismo, ninguna información referente a los negocios, clientes, operaciones, instalaciones, cuentas o finanzas de la Compañía, el Grupo Workday y/o cualquier Compañía Asociada o perteneciente al Grupo Workday, ni a sus procedimientos, métodos, transacciones, "know-how", o cualquier otro aspecto relacionado con la actividad de dichas entidades que el Trabajador pueda conocer o haya conocido con motivo de la prestación de sus servicios en la Compañía. El Trabajador actuará con la mayor diligencia para evitar la publicación o revelación de cualquier información confidencial referente a esas materias.
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15.1 The parties observe that the principal aspect of the Company's business is based on a guarantee of total confidentiality. The Employee undertakes not to disclose to any person or entity, throughout the term and after the end of this Contract, any information relating to business, customers, operations, installations, accounts or finances of the company, the Workday Group and/or any Associated Company or company belonging to the Group, or its procedures, methods, transactions, “know how”, or any other aspect relating to the activity of these entities which the Employee may know or have known as a result of the provision of his services to the Company, and the Employee shall act with the greatest diligence to avoid the publication or disclosure of any confidential information relating to these matters.
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15.2 Todos los documentos, materiales, archives o cualquier otro artícula de cualquier tipo relacionado con la Compañía, el Grupo Workday y/o cualquier Compañía Asociada o perteneciente al Grupo Workday serán considerados como confidenciales. Al extinguise este Contrato por cualquier razón, el Trabajador se compromete a devolver a la Compañía o, en su caso, a cualquier Compañía Asociada o perteneciente al Grupo Workday, cualquier documento, material o soporte de cualquier tipo que contenga información que pudiera considerarse confidencial y que se encuentre todavia en poder del Trabajador, y renuncia expresamente a cualquier derecho que le corresponda a reteneria.
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15.2 The documents, material, files or any other item of any type related to the Company, the Workday Group and/or any Associated Company or company belonging to the Group shall be deemed confidential. At the termination date of this Contract for any reason, the Employee undertakes to return to the Company or, if appropriate, to any Associated Company or company belonging to the Group, any type of document, material or support containing confidential information and which is in the Employee's possession at the time, and expressly waives any right that may correspond thereto to retain the same.
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15.3 El Trabajador responderá personalmente, por los daños, directos o indirectos que se ocasionen a la Compañía por el incumplimiento de esta Ciáusuia, sin perjuicio del ejercicio de las acciones pertinentes que pueda entabiar la Compañía contra el beneficiario de la información.
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15.3 The Employee shall be personally liable, for any direct or indirect damages to the Company arising from the breach of this Clause, notwithstanding any appropriate action which the Company is entitled to take against the beneficiary of the information.
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16. Extinción
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16. Termination
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16.1 Este Contrato se podrá extinguir en los supuestos y condiciones previstos en el Estatuto de Trabajadores y demás legislación aplicable.
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16.1 This Contract may be terminated by either party in accordance to Workers' Statute and other applicable legislation.
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16.2 Indemnización por despido improcedente
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16.2 Severance in case of termination without Fair Cause
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16.2.1 En el supuesto de despido improcedente del Trabajador por la Compañía en una fecha anterior a que se cumplan 12 meses desde el inicio de la relación laboral del Trabajador, este tendrá derecho a (i) una indemnización por despido equivalente a 300.000 euros brutos, y (ii) la parte de la Prima de Fichaje (establecida en clausula 6.3) a abonar durante el primer año de la relación laboral, que aún no hublese sido abonada. Las cantidades establecidas en el punto (i) y (ii) anterior incluirán y absorberán cualquier cantidad indemnizatoria derivada de la aplicación del Estatuto de los Trabajadores.
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16.2.1 In the event of the Employee's termination by the Company without Fair Cause (“
despido improcedente
”), on a date less than twelve months from the commencement of the Employee's employment, he will be entitled to (i) a severance payment equal to gross Euros 300,000, plus (ii) the balance of the unpaid sign-on bonus (established In clause 6.3) due in the first year of the Employee's employment. The amounts stated in (i) and (ii) will include and absorb any statutory severance amounts due under the statutory rights contained in the Spanish Workers' Act.
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16.2.2 En el supuesto de despido improcedente del Trabajador por la Compañía en una fecha posterior a que se cumplan 12 meses desde el inicio de la relación laboral del Trabajador, pero anterior a que se cumplan 24 meses desde el inicio de la relación laboral del Trabajador, éste tendrá derecho a una indemnización por despido equivalente a 300.000 euros brutos, que incluirá y absorberá cualquier cantidad indemnizatoria derivada de la aplicación del Estatuto de los Trabajadores.
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16.2.2 In the event of the Employee's termination by the Company without Fair Cause (“
despido improcedente
”), on a date greater than twelve months from the commencement of the Employee's employment but less than twenty four months of the Employee's employment, he will be entitled to a severance payment equal to gross Euros 300,000, which will include and absorb any statutory severance 2 amounts due under the statutory rights contained in the Spanish Workers' Act.
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16.2.3 En el supuesto de despido improcedente del Trabajador por la Compañía (sin “Justa Cause”) en una fecha posterior a que se cumplan 24 rneses desde el inicio de la relación laboral del Trabajador, éste tendrá derecho a una indemnización por despido equivalente a la cantidad indemnizatoria derivada de la aplicación del Estatuto de los Trabajadores.
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16.2.3 In the event of the Employee's termination by the Company without Fair Cause (“
despido improcedente
”), on a date greater than twenty four months of the Employee's employment, he will be entitled to the statutory severance amounts due under the statutory rights contained in the Spanish Workers' Act.
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16.2.4 En el supuesto de despido procedente del Trabajador o dimisión voluntaria, éste no tendrá derecho a cantidad alguna en concepto de indemnización o compensación.
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16.2.4 In the event of the Employee's termination by the Company with Fair Cause (“
despido procedente
”) or voluntary resignation, the Employee will have no right to any amount as severance.
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16.3 Extinción por cambio de control
En caso de que se produzca un cambio de control de Workday y la consecuente extinción de la relació laboral (salvo en los supuestos de despido procedente y dimisión voluntaria), el Trabajador tendrá derecho a las cantidades y derechos recogidos en el Plan para el cambia de control establecido por el Consejo de Administración de Workday, que incluirá un pago bruto equivalenta de al menos el 100% de la remuneración fija anual del Trabajador de acuerdo con lo establecido en la dausula 6.1 anterior, y la maduración acelerada del 50% de los “equity awards” del Trabajador pendientes de maduración en el memento de la extinción.
Los términos y definiciones de la presente clausula serán establecidos en el Plan de cambio de control.
Las provisiones de la presente clausula para el caso de extinción en el contexto de un cambio de control prevalecerá sobre lo dispuesto en la clausula 16.2, anterior, que quedará sin efecto en dicho supuesto de cambio de control
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16.3 Termination in a change of control
In case of a change of control of Workday and subsequent termination of the Employee (other than termination for fair cause or due to voluntary resignation), he will be entitled to the amounts and rights determined by the change of control plan as set forth by Workdays' Board of Directors, which shall Include no less than a gross payment of 100% of the Employee's yearly fixed remuneration as per Clause 6.1 above, plus the accelerated vesting of 50% of the Employee's unvested equity awards at the moment of termination.
The exact terms and definitions of this covenant will be defined by the change of control Plan.
Provisions of the present clause for the event of termination in the context of a change of control shall prevail over the contents of clause 16.2. above, which shall lose its effects in such event of change of control.
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16.4 Habida cuenta de la importancia del puesto objeto de este contrato, las partes acuerdan expresamente como condición esencial del presente contrato que en caso de cese voluntario del Trabajador, este se comprometerá a facilitar la translción de sus cometidos a la persona que designe la Compañía colaborando en todo lo necesarlo haste la completa entrega de toda la información necesarla para la adecuada y satisfactoria continuudad para la Compañía. Se estima quo el período máximo de compromiso para ello puede ser de un rnes después del día de cese voluntario
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16.4 Considering the importance of the position of the Employee, it is expressly agreed by both parties as an essential part of this contract that in case of voluntary resignation of the Employee, he will facilitate in any and all matters the transition of the files to the person appointed by the Company until total update and under satisfaction of the Company. It is estimated that the maximum period for this transition can be around a month after the voluntary resignation date.
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16.5 En caso de extinción del Contrato, con independencia de la causa por que se produzca, el Trabajador hará entrega a la Compañía de la documentación y registros de todos tipos relativos a las operaciones efectuadas por la Compañía o referentes a otros clientes de la Compañía, o a las compañias que hayan tenido alguna relación con ésta. El Trabajador no tendrá derecho a retener copia alguna de la mencionada documentación. Asimisma, en caso de extinción del presente Contrato por cualquier cause que se produzca, el Trabajador deberá entregar a la Compañía o a los delegados de la misma todas aquellos objetos que el Trabajador hubiese recibido de la Compañía, entre los cuales, y de forma meramente enunciativa, se incluyen el, teléfono móvil, hardware y software, tarejetas de crédito, llaves de acceso al centro de trabajo, etc., así como cualquier otra propiedad de o relacionada con la Compañía que pudiera estar en posesión o bajo el control del Trabajador.
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16.5 In the event the Contract is terminated for any reason, the Employee shall deliver to the Company any documentation and records of any type relating to the transactions carried out by the Company or related to other clients of the Company or to any companies that have had any relationship with the Company. The Employee shall not be entitled to retain any copies of such documentation. Likewise, in the event of termination of the Contract for any reason, the Employee shall deliver to the Company or its delegates all the objects that the Employee has received from the Company, including but not limited to mobile phone, hardware and software, credit cards, keys to the workplace etc., as well as any other property belonging or relating to the Company which may be in the Employee's possession or control.
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17. Únice Contrato
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17. Whole Agreement
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17.1 El presente Contrato constituye la totalidad del entendimiento entre las pates. El resto de manifestaciones, acuerdos, entendimientos y contratos, ya sean escritos o verbales, (en su caso) de servicios entre is Compañía y el Trabajador quedan en este acto anulados y reemplazados.
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17.1 This Agreement constitutes the whole agreement between the parties. All other representations, arrangements, understandings and agreements, whether written or oral, (if any) for service between the Company and the Employee are hereby abrogated and superseded.
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18. Nulidad parcial
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18.
Severability
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18.1 En el supuesto de que cualquier Cláusula o parte de una Cláusula contenida en este Contrato sea declarada nula o no aplicable por un juzgaclo o tribunal competente, el resto de Cláusulas a parte de las mismas de este Contrato permanecerán en vigor y con plenos efectos, y no se verán afectadas por dicha declaración.
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18.1 In the event of any Clause or part of a Clause contained in this Agreement being declared invalid or unenforceable, by any court of competent jurisdiction, all other Clauses or parts of Clauses contained in this Agreement shall remain in full force and effect and shall not be affected thereby
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19. Ley Aplicable
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19.
Governing
Law
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19.1 Este Contrato se regirá e interpretará en todos los sentidos conforme al Estatuto de los Trabajadores y al resto de legislación aplicable.
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19.1 This Agreement shall be governed by and construed in all respects in accordance with the Statute of Workers, and other applicable legislation.
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19.2 Cada una de las partes de este Contrato se somete irrevocablemente a la jurisdicción no exclusiva de los Juzgados y Tribunales españoles.
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19.2 Each of the parties hereto hereby irrevocably submits to the non-exclusive jurisdiction of the Spanish Courts.
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20. Idioma
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20. Language
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20.1 Este contrato se ha firmado en inglés y en español. En el supuesto de que surja alguna discrepancia entre ambas versiones, prevalecera la versión en inglés.
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20.1 This agreement has been signed in both English and Spanish. In the event any discrepancies should arise between the two versions, the English version shall prevail.
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Y EN TESTIMONIO DE LO CUAL
, las partes habiendo leído detenidamente este documento y en prueba de su conformidad, lo ratifican y firman en tres ejemplares originales, en el lugar y fecha señalados en el encabezamiento, siendo cada copia de identica fuerza.
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AND IN WITNESS WHEREOF
, the parties, having read this document carefully, and as evidence of their approval, ratify and sign three copies, each copy having identical weight, in the place and on the date stated at the start of this Contract
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/s/ Shaun Redgrave
Workday BV
Representada por D. Shaun Redgrave
/s/ Luciano Ferandez Gómez
EL TRABAJADOR
Dr. Luciano Fernandez Gomez
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/s/ Shaun Redgrave
Workday BV
Represented by Mr. Shaun Redgrave
/s/ Luciano Ferandez Gómez
THE EMPLOYEE
Mr. Luciano Fernandez Gómez
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Acuerdo de Transmisión
Entre
|
|
Transfer
Agreement
Between
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(1)
Workday BV
, con domicilio social en Amsteldijk 166, 1079LH Amsterdam con C.R.I. número 53679660 (
la “Cedente”
), representada en este acto pro Da. Sr. Shaun Redgrave su calidad de representante legal de esta compañía.
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|
(1)
Workday BV
with registered office at Amsteldijk 166, 1079LH Amsterdam, with C.R.I. number 53679660 (
the “Transferor’’
), represented by Mr. Shaun Redgrave acting as legal representative of this company.
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Y
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And
|
(2)
Workday España S.L.
, con domicilio social en C/ Monte Esquinza n° 30 Bajo Izda 28010 Madrid, España, como futuro empleador, con CIF n° B87016325 (
la
“
Cesionaria
”), representada por Da. Melanie Vinson en calidad de representante legal de esta sociedad.
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(2)
Workday España S.L
. with registered office at C/ Monte Esquinza n° 30 Bajo Izda 28010 Madrid Spain with corporate identification number B87016325 (
the
“
Transferee
”), represented by Ms. Melanie Vinson acting as legal representative of this company.
|
Y
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And
|
(3) Luciano Fernandez Gomez como empleado (el “
Trabajador
”),
- La Cedente, la Cesionaria y el Trabajador serán referidos asimismo como las “
Partes
”.
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Luciano Fernandez Gomez as employee (the “
Employee
”).
- Transferor, Transferee and the Employee also referred to as the “
Parties
”.
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Preámbulo
|
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Preamble
|
En fecha 20 de mayo de 2014, Workday ha constituido una sociedad en España.
Los trabajadores de Workday que prestaban servicios en España estaban empleados por la Cedente.
Desde el
01/07/2014
, los empleados de la Cedente que operan en España pasan a estar empleados por la Cesionaria.
En este contexto, las Partes acuerdan lo siguiente:
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As of May 20, 2014, Workday Group has incorporated a company in Spain.
Workday employees rendering services in Spain have been employed by the Transferor.
Since 01/07/2014, the employees of the Transferor that render services in Spain will be transferred to the Transferee.
In this context, the Parties now agree as follows:
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1.
Cambio de empleador
1.1
El contrato de trabajo, incluyendo cualesquiera acuerdos adicionales existentes, existente entre el Trabajador y la Cedente se transmite a la Cesionaria con efectos de
01/07/2014
. Como resultado de dicha transmisión, se extinguirá la relación laboral existente entre el Trabajador y la Cedente, Iniciándose, desde el día de la transmisión, una relación laboral entre el Trabajador y la Cesionaria.
1.2
La antigüedad que el Trabajador haya adquirido con la Cedente se reconoce de manera explícita a todos los efectos legales, incluyendo expresamente el caso de la indemnización que le pudiese corresponder al Trabajador en caso de despido, y será considerada coma antigüedad en la Cesionaria. En consecuencia, el Trabajador y la Cesionaria aceptan que el 1 enero 2014 es la fecha acordada para el cálculo de los años de prestación de servicios en la Cesionaria.
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1.
Change of employer
1.1
The employment contract, including existing additional agreements, between the Employee and the Transferor is transferred to the Transferee with effect as of 01/07/2014. As a result of this transfer, an employment relationship will, therefore, be established between the Employee and the Transferee as of the transfer date and the employment relationship between the Employee and the Transferor will cease to exist.
1.2
The Employee’s previous seniority with the Transferor is explicitly acknowledged for all legal purposes, expressly including the severance that may correspond to the Employee in case of termination and shall be deemed as seniority with the Transferee. The Employee and the Transferee, therefore, agree that 1 January 2014 is the authoritative date when calculating the length of services with the Transferee.
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1.3
La Cesionaria empleará al Trabajador en los mismos términos y condiciones que vinieran siendo de aplicación entre la Cedente y el Trabajador. Incluyendo sus funciones y categoriá profesional actuales como Presidente de EMEA.
La relación laboral entre el Trabajador y la Cesionaria continuará siendo regida por el Convenio Colectivo que de aplicación en la Cedente.
1.4
En relación con el centro de trabajo del Trabajador, el mismo seguirá prestando servicios desde
su domicilio
.
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1.3
The Employee will be employed by the Transferee on the same terms and conditions than the Transferor. Including his/her current functions and professional category as President of EMEA
The employment relationship between the Employee and the Transferee will remain subject to the same Collective Bargaining Agreement currently applied in the Transferor.
1.4
In relation to the place of work of the Employee, he/she will continue to render services
from his
home address
.
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2. Obligaciones
Desde la fecha de la transmisión, la Cesionaria se subrogará en todas las obligaciones de la Cedente correspondientes a la relación laboral con el Trabajador.
Desde la fecha de la transmisión, la Cesionaria será, por tanto, responsable de todos los costes y de cualquier reclamación del Trabajador referentes a su relación laboral, independientemente de que aquellas se refieran a un período anterior o posterior a la fecha de la transmisión.
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2. Liabilities
As of the transfer date, the Transferee assumes all liabilities from the Transferor in relation to the Employee’s employment relationship.
As of the transfer date, the Transferee will be liable for all costs and any claims of the Employee in relation to his employment relationship, irrespective of whether these relate to the period before or after the transfer date.
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3. Varios
3.1
Para ser válidamente efectivo, cualquier modificación o añadido a este Acuerdo deberá hacerse por escrito. Ello resultará asimismo de aplicación para cualquier modificación que afecte a esta cláusula de requerimiento de forma escrita.
3.2
Si se declarase la invalidez total o parcial de alguna de las cláusulas de este Acuerdo, todas las cláusulas restantes mantendrán su validez. La cláusula no válida se entenderá reemplazada por aquella cláusula válida que se corresponda en la mayor medida posible con la intención y finalidad de la cláusula no válida.
3.3
El presente Acuerdo se firma en español y en inglés. En caso de controversia entre ambas versiones, prevalecerá la versión española del mismo.
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3. Miscellaneous
3.1
Any amendments or additions to this Agreement must be carried out in writing in order to be legally effective. This also applies to any amendment of this written form requirement clause.
3.2
If any provision of this Agreement is or becomes in total or in part ineffective, the effectiveness of the other provisions is not affected thereby. The ineffective provision is deemed replaced by such effective provision which corresponds as closely as possible to the intention and purpose of the ineffective provision.
3.3
This Agreement is signed in Spanish and in English. In case of controversy between the two versions, the Spanish one shall prevail.
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Y para que así conste, ambas partes visan cada página y firman el presente Acuerdo de Transmisión en el lugar y fecha mencionados anteriormente.
Workday BV
P.p.
/s/ Sr. Shaun Redgrave
Sr. Shaun Redgrave
Workday Spain
P.p.
/s/ D. Melanie Vinson
D. Melanie Vinson
El Trabajador
/s/ Luciano Fernandez Gomez
D Luciano Fernandez Gomez
|
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In witness whereof, the Parties initial each page and sign each of the pages in which this Agreement is issued in the place and on the date written above.
Workday BV
B.p.
_________________________
Mr Shaun Redgrave
Workday Spain
B.p.
_________________________
Ms. Melanie Vinson
The Employee
_________________________
Mr Luciano Fernandez Gomez
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(a)
|
You are under no employment contract, bond, proprietary information agreement, invention agreement, confidentiality agreement or other obligation, which would breach or be in conflict with the terms and conditions of your employment with us or encumber your performance of duties assigned to you by us;
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(b)
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You have not signed or committed to any employment or consultant duties or other obligations, which would divert your full attention from the duties assigned to you by us under your employment;
|
(c)
|
You are currently in good health and will pass any medical examination necessary for the establishment of your benefits package; and
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(d)
|
As a pre-condition of your secondment with the Company, you will provide to the Company, before you commence your secondment, your passport and documentation which gives you the unrestricted right to work in the UK (which will be copied and returned to you).
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(e)
|
We may pass details relating to you to Workday UK Ltd and may pass these details to other group companies in any country to which you are transferred. Your details will continue to be handled with appropriate care.
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(1)
|
Workday UK Limited of 3rd Floor, Finsbury Circus House, 15 Finsbury Circus, London, EC2M 7EB. (“the Host”)
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(2)
|
Luciano Fernandez Gomez (“the Employee”)
|
(3)
|
Workday España S.L. of Monte Esquinza 30, Bajo Izquierda, 28010, Madrid (the “Primary Employer”)
|
(a)
|
require the Employee to perform such duties as the Host may direct or require the Employee to perform no duties;
|
(b)
|
require the Employee not to have any communication with any customer, client or supplier, employee, officer, director, agent or consultant of the Host or any group undertaking in relation to the business of the Primary Employer, the Host or any group undertaking;
|
(c)
|
require the Employee not to remain or become involved in any respect with the business of the Primary Employer, the Host or any group undertaking.
|
(a)
|
to be a member of the Host’s medical expenses scheme or such other medical expenses scheme as the Host may make available from time to time provided the Employee is accepted at normal rates of premium;
|
(b)
|
to be a member of the Host’s stakeholder or group personal pension scheme subject to satisfying certain eligibility criteria and subject to the rules of the scheme as amended from time to time.
|
(a)
|
Annual Holidays
|
(b)
|
Bank Holidays and Public Holidays
|
(a)
|
If the Employee is absent from work due to sickness, he may be entitled to statutory sick pay. Any other payment will be at the discretion of the Host.
|
(b)
|
If the Employee is prevented by sickness from performing his duties properly, he shall report this fact promptly to his Line Manager, or to the CEO of the Host (“CEO”) if the Line Manager is not available, before 10.00 a.m. on the first day of sickness together with an estimate of the period of absence envisaged. Any change in the estimated period of absence must be notified as soon as possible.
|
(c)
|
If the Employee is absent for more than 12 weeks in any 12-month period due to sickness or injury then the Host is entitled to terminate the assignment.
|
(d)
|
The Host may at any time require the Employee to be medically examined at its expense by a medical practitioner nominated by it and for a report of such examination to be provided to the Host and to cease payment of Host Sick Pay if it is advised by the medical practitioner that the Employee is fit to return to work.
|
(e)
|
If the sickness, injury or accident is caused by the act or omission of a third party the Employee must, at the Host’s request, include in any claim for damages against such third party a claim in respect of monies paid by the Host under clause 12(a) and must refund to the Host any damages recovered under that head.
|
(a)
|
take reasonable care for the health and safety of him or herself and of others who may be affected by his acts or omissions at work;
|
(b)
|
as regards any duty imposed on the Host or any other person, co-operate with the Host so far as is necessary to enable that duty to be performed or complied with.
|
(a)
|
In the following circumstances, which are all intended by way of example only of what may be regarded as gross misconduct, and not by way of a complete list, the Employee will be dismissed summarily by written notice to operate from the date of such notice and the Employee will not be entitled to any further payment under his terms of assignment except such sum as has accrued and is due at the date of termination:
|
(i)
|
refusing to carry out any proper direction given in the course of the employment
|
(ii)
|
improperly divulging to any third party any confidential or non-public information regarding the Primary Employer, the Host its employees or any person with whom the Primary Employer or the Host deals
|
(iii)
|
committing any act or divulging any information which is contrary to or damages the interests or objectives of the Primary Employer or the Host
|
(iv)
|
committing any criminal offence which in the opinion of the Primary Employer or the Host makes the Employee unsuitable for the type of work that the Employee is employed to do or may reasonably be expected to do or which makes him unacceptable to other employees
|
(v)
|
dishonest conduct
|
(vi)
|
violent, obscene or abusive behaviour towards other employees or officers of the Primary Employer or the Host
|
(vii)
|
serious or willful breach of the Employee’s duties
|
(viii)
|
attending the Primary Employer’s or the Host’s premises or engaging in the Primary Employer’s business whilst under the influence of alcohol or unlawful drugs.
|
(b)
|
Any other serious or irreparable act or omission by the Employee may be regarded as gross misconduct where such act or omission is, in the reasonable opinion of the Primary Employer or the Host is likely to (or has) cause(d) serious harm to the business or reputation of the Primary Employer or the Host.
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(a)
|
The following disciplinary procedure will usually be adopted. The stages will normally be implemented in order but action may start at any stage in the event of serious misconduct or an aspect of poor performance that creates a risk to other employees. At each stage of the procedure, the Host will set a reasonable timeframe within which the Employee will be expected to improve their performance or conduct or remedy any minor breach of secondment agreement.
|
(i)
|
On the first occasion that an Employee fails to reach the standards required, the Employee will receive a formal verbal warning.
|
(ii)
|
If the required improvement is not made, or if the first offence is considered too serious for a formal verbal warning, the Employee will receive a formal written warning.
|
(iii)
|
Continued failure to achieve the required improvement, or further transgressions, will result in a final written warning being issued.
|
(iv)
|
Failure to comply with the conditions of a final written warning will result in dismissal after the requisite period of notice or payment of salary in lieu thereof.
|
(i)
|
poor timekeeping
|
(ii)
|
poor attendance
|
(iii)
|
inadequate or incompetent performance of the Employee’s job
|
(iv)
|
failure to comply with the Host’s established procedures, as notified from time to time
|
(v)
|
rudeness or discourtesy to people with whom the Host deals or to other employees.
|
(b)
|
If disciplinary action which may lead to disciplinary measures is to be taken against the Employee (other than suspension under (c) below or issuing of a warning - where modified procedures may apply), the following procedure will normally apply. The Employee will receive a letter setting out the alleged conduct or other circumstances and inviting the Employee to attend a disciplinary hearing. The hearing will be set at a time and date to allow the Employee time to consider the allegations against him. At the disciplinary hearing (which the Employee must take all reasonable steps to attend) the Employee will be given the opportunity to respond to the issues raised. The decision on the hearing will be notified to the Employee after the hearing, along with details of the right to appeal. The Employee will have the right to be accompanied to any disciplinary hearing and subsequent appeal by a colleague or trade union official.
|
(c)
|
The Host reserves the right to suspend the Employee on full pay pending investigation where the Host has reasonable grounds to believe that the Employee’s continued assignment might be prejudicial to the Host’s business or other employees.
|
(d)
|
The Host reserves the right to exclude the Employee from the premises during his period of notice and shall be under no obligation to provide any work for the Employee or to assign him any duties.
|
(e)
|
If the Employee has outside interests which in the opinion of the Host conflict with its interests, the Employee may be asked to leave the service of the Host.
|
(f)
|
The Host reserves the right to suspend the Employee without pay and benefits as a disciplinary measure.
|
(a)
|
be collected and held (in hard copy and computer readable form) and processed by the Host; and
|
(b)
|
be disclosed to:
|
(i)
|
other employees of the Host and the Host’s group companies;
|
(ii)
|
any other persons as may be reasonably necessary (such as third party benefit providers or administrators) or as authorised by the Employee; or
|
(iii)
|
as otherwise required or permitted by law.
|
(a)
|
Overpayment of wages;
|
(b)
|
Overpayment in respect of expenses incurred by the Employee in carrying out his duties;
|
(c)
|
Loans which the Host may from time to time make to the Employee;
|
(d)
|
Advances on wages, which the Host may from time to time make to the Employee.
|
•
|
Rent - not to exceed GBP £12,100.00 per month
|
•
|
Education – expenses for tuition to be covered for children (3)
|
•
|
Furniture allowance – not to exceed GBP £500.00 per month
|
•
|
Miscellaneous allowance - up to GBP £10,000.00 annually
|
•
|
Repatriation
|
o
|
Household goods move
|
o
|
Resettling allowance of EUR€ 5,000.00
|
Cc:
|
Human Resources
Phil Wilmington, Co-President, Workday, Inc. |
•
|
Rent - not to exceed £12,000.00 per month
|
•
|
Education – expenses for tuition to be covered for children (3)
|
•
|
Miscellaneous allowance - up to £10,000.00 annually
|
•
|
Repatriation
|
o
|
Transportation to home country for you and your dependents
|
o
|
Household goods move
|
o
|
Resettling allowance of EUR€ 5,000.00
|
Name
|
|
Jurisdiction
|
Adaptive Insights Co., Ltd.
|
|
Japan
|
Adaptive Insights Limited
|
|
United Kingdom
|
Adaptive Insights LLC
|
|
Delaware
|
Adaptive Insights, Ltd.
|
|
Canada
|
Adaptive Insights Pty Ltd
|
|
Australia
|
Canada Workday ULC
|
|
Canada
|
Rallyteam, Inc.
|
|
Delaware
|
Rallyteam Software Solutions, Inc.
|
|
Canada
|
Skipflag, Inc.
|
|
Delaware
|
Tri-Valley Resellers, LLC
|
|
Delaware
|
Vineyard Sound, LLC
|
|
Delaware
|
Workday (Beijing) Co., Ltd.
|
|
China
|
Workday (NZ) Unlimited
|
|
New Zealand
|
Workday (Thailand) Co., Ltd.
|
|
Thailand
|
Workday (UK) Limited
|
|
United Kingdom
|
Workday Asia Pacific Limited
|
|
Hong Kong
|
Workday Australia Pty Ltd
|
|
Australia
|
Workday Austria GmbH
|
|
Austria
|
Workday B.V.
|
|
Netherlands
|
Workday Belgium SPRL
|
|
Belgium
|
Workday CZ s.r.o
|
|
Czech Republic
|
Workday Denmark ApS
|
|
Denmark
|
Workday España SL
|
|
Spain
|
Workday Finland Oy
|
|
Finland
|
Workday France
|
|
France
|
Workday Global, Inc.
|
|
Delaware
|
Workday GmbH
|
|
Germany
|
Workday India Private Limited
|
|
India
|
Workday International Limited
|
|
Ireland
|
Workday Italy S.r.l.
|
|
Italy
|
Workday K.K.
|
|
Japan
|
Workday Korea Limited
|
|
South Korea
|
Workday Limited
|
|
Ireland
|
Workday Malaysia Sdn. Bhd.
|
|
Malaysia
|
Workday Norway AS
|
|
Norway
|
Workday Polska sp. z.o.o
|
|
Poland
|
Workday Singapore Pte. Ltd.
|
|
Singapore
|
Workday South Africa (Pty) Ltd
|
|
South Africa
|
Workday Sweden Aktiebolag
|
|
Sweden
|
Workday Switzerland GmbH
|
|
Switzerland
|
•
|
Registration Statement (Form S-3 ASR No. 333-218426) of Workday, Inc.,
|
•
|
Registration Statements (Form S-8 Nos. 333-184395, 333-187665, 333-194934, 333-203004, 333-210330, 333-216834, and 333-223656) pertaining to employee benefit plans of Workday, Inc., and
|
•
|
Registration Statement (Form S-8 No. 333-226907) pertaining to the Adaptive Insights, Inc. 2013 Equity Incentive Plan;
|
1.
|
I have reviewed this annual report on Form 10-K of Workday, Inc.;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a.
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b.
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c.
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d.
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a.
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b.
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
Date: March 15, 2019
|
By:
|
/s/ Aneel Bhusri
|
|
|
Aneel Bhusri
|
|
|
Chief Executive Officer
|
|
|
(Principal Executive Officer)
|
1.
|
I have reviewed this annual report on Form 10-K of Workday, Inc.;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a.
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b.
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c.
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d.
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a.
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b.
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
Date: March 15, 2019
|
By:
|
/s/ Robynne D. Sisco
|
|
|
Robynne D. Sisco
|
|
|
Co-President and Chief Financial Officer
|
|
|
(Principal Financial Officer)
|
Date: March 15, 2019
|
By:
|
/s/ Aneel Bhusri
|
|
|
Aneel Bhusri
|
|
|
Chief Executive Officer
|
|
|
(Principal Executive Officer)
|
Date: March 15, 2019
|
By:
|
/s/ Robynne D. Sisco
|
|
|
Robynne D. Sisco
|
|
|
Co-President and Chief Financial Officer
|
|
|
(Principal Financial Officer)
|