Form 4: Veeva Director Converts RSUs to Class A Stock

Veeva Systems Inc. Director Mark T. Carges converted 271 Restricted Stock Units into Class A Common Stock, increasing his direct beneficial ownership.

Summary

• Mark T. Carges, a Director at Veeva Systems Inc. (VEEV), reported a transaction involving the conversion of derivative securities.
• On December 1, 2025, Mr. Carges converted 271 Restricted Stock Units (RSUs) into 271 shares of Class A Common Stock.
• This transaction was exempt from Section 16(b) of the Securities Exchange Act of 1934 pursuant to Rule 16b-6(b).
• Following this conversion, Mr. Carges directly beneficially owns 542 shares of Class A Common Stock.
• Additionally, 11,869 shares of Class A Common Stock are indirectly beneficially owned by the Mark Carges Revocable Trust dated January 30, 2019, for which Mr. Carges is a trustee and beneficiary.
• The total beneficial ownership reported by Mr. Carges after this transaction is 12,411 shares of Class A Common Stock.
• The RSUs represent a contingent right to receive one share of Class A Common Stock.
• Mr. Carges was granted 1,084 RSUs on June 18, 2025, with 1/4 vesting on September 1, 2025, and the remainder vesting quarterly, subject to continued board service.

Sentiment

Score: 5

Explanation: The filing is a neutral, factual disclosure of an insider transaction related to equity compensation. It does not contain information that would significantly alter the company's fundamental outlook or market sentiment.

Positives

• The conversion of Restricted Stock Units into common stock indicates a vesting event, which is a standard part of executive compensation and retention.
• The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged, scheduled transaction designed to comply with insider trading rules.

Negatives

• NA

Risks

• NA

Future Outlook

The filing details a scheduled RSU vesting and conversion, which is part of an ongoing equity incentive plan. The remaining RSUs granted on June 18, 2025, are expected to vest equally on a quarterly basis thereafter, contingent on continued service on the Issuer's board of directors.

Industry Context

This is a routine insider transaction filing (Form 4) for a director of Veeva Systems Inc., a cloud-based software provider for the life sciences industry. Such filings are common disclosures for publicly traded companies and reflect standard executive compensation practices, including equity grants and vesting schedules.

Related Party Transactions

• Shares are indirectly held by the Mark Carges Revocable Trust dated January 30, 2019, for which the reporting person is a trustee and beneficiary, and may be deemed to share voting and dispositive power.

Stakeholder Impact

• Shareholders: This is a routine disclosure of a director's equity compensation vesting, which is a standard part of corporate governance and executive incentives. It has minimal direct impact on other shareholders.
• Employees: No direct impact on employees beyond the general understanding of executive compensation structures.

Next Steps

• Remaining RSUs from the June 18, 2025 grant will continue to vest equally on a quarterly basis, subject to continued service on the board of directors.

Key Dates

Keywords

VEEV, Veeva Systems, Mark T. Carges, Form 4, Insider Transaction, Restricted Stock Units, RSU Conversion, Class A Common Stock, Director Ownership, 10b5-1 Plan