Form 4: Veeva Systems Director Mark Carges Reports Stock Transactions
SEC Form 4 Filing
Director Mark Carges of Veeva Systems reported the acquisition of 357 Class A Common Stock shares and the vesting of 357 Restricted Stock Units.
Summary
- Mark Carges, a director at Veeva Systems, reported a transaction involving the company's Class A Common Stock on December 1, 2024.
- He acquired 357 shares of Class A Common Stock at a price of $0.
- These shares were acquired through the vesting of Restricted Stock Units (RSUs).
- The director also transferred 357 shares to the Mark Carges Revocable Trust, which he is a trustee and beneficiary of.
- Following these transactions, Mr. Carges directly owns 713 RSUs and indirectly owns 10,799 shares through the trust.
Sentiment
Score: 7
Explanation: The document is a routine filing of insider transactions, which is neutral to slightly positive as it indicates the director's continued stake in the company.
Industry Context
This is a standard SEC Form 4 filing, which is common for corporate insiders reporting transactions in their company's stock. It is a routine part of corporate governance and transparency.
Comparison to Industry Standards
- Form 4 filings are a standard practice for publicly traded companies in the United States, ensuring transparency of insider transactions.
- Similar filings are made by directors and officers of companies like Salesforce (CRM), Workday (WDAY), and Oracle (ORCL), which are competitors of Veeva Systems in the cloud-based software industry.
- The number of shares and RSUs involved in this transaction are typical for director-level compensation and vesting schedules.
Related Party Transactions
- The transfer of shares to the Mark Carges Revocable Trust is a related party transaction.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it is a routine insider transaction.
- The vesting of RSUs is part of the director's compensation package.
Key Dates
| Date | Description |
|---|---|
| 01/30/2019 | Date of the Mark Carges Revocable Trust. |
| 06/19/2024 | Date when Mark Carges was granted 1,427 RSUs. |
| 09/01/2024 | Date when 1/4 of the granted RSUs vested. |
| 12/01/2024 | Date of the reported stock transaction and RSU vesting. |
| 12/02/2024 | Date the Form 4 was signed. |
Keywords
Veeva Systems, insider trading, Form 4, stock transaction, Mark Carges, Class A Common Stock, Restricted Stock Units, equity
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