Form 4: Veeva Systems Chief Accounting Officer Reports Stock Transactions

Kristine Diamond, Chief Accounting Officer at Veeva Systems, reported the vesting and tax withholding of restricted stock units on January 1, 2025.

Summary

• Kristine Diamond, Chief Accounting Officer of Veeva Systems, filed a Form 4 detailing changes in her beneficial ownership of company stock.
• On January 1, 2025, 203 restricted stock units (RSUs) vested, converting into 203 shares of Class A Common Stock.
• The vesting of these RSUs was a non-market transaction exempt from Section 16(b) of the Securities Exchange Act of 1934.
• Additionally, 84 shares of Class A Common Stock were withheld by Veeva Systems to cover tax obligations related to the RSU vesting at a price of $210.25 per share.
• Following these transactions, Ms. Diamond directly owns 738 shares of Class A Common Stock and 204 restricted stock units.

Sentiment

Score: 7

Explanation: The document is a routine filing related to executive compensation and does not indicate any positive or negative sentiment. It is a neutral event.

Industry Context

This is a routine filing related to executive compensation and is common for publicly traded companies. It provides transparency into the stock ownership of key personnel.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the US, as mandated by the Securities and Exchange Commission (SEC).
• The vesting schedule of the restricted stock units, with 25% vesting initially and then quarterly, is a common practice in the tech industry for employee retention.
• The tax withholding of shares to cover tax obligations is also a standard procedure.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect the standard vesting of executive compensation.
• The tax withholding of shares has no material impact on the company's financials.

Key Dates

Keywords

Veeva Systems, Form 4, insider trading, restricted stock units, RSU, stock vesting, beneficial ownership, Class A Common Stock, Kristine Diamond, Chief Accounting Officer