Form 4: Veeva Systems Director Gordon Ritter Reports Acquisition of Class A Common Stock Through RSU Vesting

Veeva Systems Inc. Director Gordon Ritter has reported the acquisition of 399 shares of Class A Common Stock through the vesting of Restricted Stock Units, as detailed in a recent SEC Form 4 filing.

Summary

• Gordon Ritter, a Director of Veeva Systems Inc. (VEEV), acquired 399 shares of Class A Common Stock on June 1, 2025.
• This acquisition resulted from the vesting of 399 Restricted Stock Units (RSUs), which converted into common stock at a price of $0.
• Following this transaction, Mr. Ritter directly holds 797 shares of Class A Common Stock.
• Additionally, Mr. Ritter has indirect beneficial ownership of 575,282 shares through The Ritter-Metzler Revocable Trust, 92,000 shares through GABACOR Holdings LLC, and 500,000 shares through Emergence Capital Partners II, L.P.
• The transaction is exempt from Section 16(b) of the Securities Exchange Act of 1934.
• The RSUs were part of a grant of 1,595 RSUs on June 19, 2024, with vesting occurring quarterly, subject to continued board service.

Sentiment

Score: 5

Explanation: The document reports a routine insider transaction (RSU vesting and conversion) which is a standard part of executive compensation. It does not indicate any significant positive or negative operational or financial news for the company, hence a neutral sentiment.

Positives

• The acquisition of shares by a director indicates continued alignment of interests between management and shareholders.
• The transaction is a routine vesting of previously granted equity, reflecting a planned compensation structure.

Future Outlook

NA

Management Comments

• Transaction exempt from Section 16(b) of the Securities Exchange Act of 1934 (the "Act") pursuant to Rule 16b-6(b) promulgated under the Act.
• The Reporting Person disclaims beneficial ownership of the reported shares held by the Trust, except to the extent, if any, of his pecuniary interest therein.
• Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of Class A Common Stock of the Issuer.
• On June 19, 2024, the Reporting Person was granted 1,595 RSUs under the Issuer's Amended & Restated 2013 Equity Incentive Plan, of which 1/4 of the RSUs vested on September 1, 2024, with the remaining RSUs vesting equally on a quarterly basis thereafter, subject to continued service on the Issuer's board of directors on the applicable vesting date.

Industry Context

A Form 4 filing is a standard regulatory disclosure for insider transactions. It doesn't typically provide industry-specific context beyond the company's identity. Veeva Systems operates in the cloud-based software for the life sciences industry. This filing is a routine compensation event for a director.

Comparison to Industry Standards

• This is a standard Form 4 filing for an insider transaction (RSU vesting).
• The structure of RSU grants and vesting schedules is common across many publicly traded companies, particularly in the technology and software sectors, as a form of long-term incentive compensation for directors and executives.

Related Party Transactions

• Gordon Ritter's indirect beneficial ownership includes shares held by The Ritter-Metzler Revocable Trust, GABACOR Holdings LLC, and Emergence Capital Partners II, L.P., entities with which he has a controlling or partnership interest. While standard for Form 4 disclosures, these represent related party holdings.

Stakeholder Impact

• Shareholders: The transaction slightly increases the direct shareholding of a director, aligning his interests with shareholders. It's a routine compensation event and does not significantly dilute existing shareholders.

Next Steps

• Continued quarterly vesting of the remaining RSUs granted on June 19, 2024, subject to Gordon Ritter's continued service on the board.

Key Dates

Keywords

Veeva Systems, VEEV, SEC Form 4, Insider Transaction, Gordon Ritter, Restricted Stock Units, RSU vesting, Class A Common Stock, Beneficial Ownership, Director Stock Acquisition