Form 4: Veeva Systems Director Matthew J. Wallach Reports Stock Transactions

Director Matthew J. Wallach of Veeva Systems Inc. reported the vesting of restricted stock units and details of his beneficial ownership through several trusts.

Summary

• Matthew J. Wallach, a director at Veeva Systems Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• On December 1, 2024, 329 restricted stock units (RSUs) vested, converting into 329 shares of Class A Common Stock.
• These RSUs were part of a grant of 1,315 RSUs awarded on June 19, 2024, under the company's 2013 Equity Incentive Plan.
• The vesting schedule for the RSUs is quarterly, with the first quarter vesting on September 1, 2024.
• Wallach also reported indirect ownership of Class A Common Stock through several irrevocable trusts.
• These trusts include the Matt Wallach 2012 Irrevocable Trust, the Matt Wallach 2013 Irrevocable Trust, and the Matt Wallach 2012 Irrevocable Non-Grantor Trust.
• The reported holdings include 100,000 shares held by the 2012 Irrevocable Trust, 100,002 shares held by the 2013 Irrevocable Trust, and 50,000 shares held by the 2012 Irrevocable Non-Grantor Trust.
• Wallach disclaims beneficial ownership of the shares held by these trusts, except to the extent of his pecuniary interest.

Sentiment

Score: 7

Explanation: The document is a routine disclosure of stock transactions, which is neither positive nor negative. The vesting of RSUs is a normal part of executive compensation.

Future Outlook

The remaining RSUs will continue to vest quarterly, subject to continued service on the Issuer's board of directors.

Industry Context

This filing is a routine disclosure of stock transactions by a company director, which is common practice for publicly traded companies.

Comparison to Industry Standards

• The vesting of restricted stock units is a standard form of compensation for directors and executives in publicly traded companies.
• The use of irrevocable trusts for holding shares is a common estate planning strategy.
• The reporting of these transactions via SEC Form 4 is a standard regulatory requirement.

Stakeholder Impact

• The vesting of RSUs may have a minor dilutive effect on existing shareholders.
• The transactions are part of the director's compensation and are not expected to have a significant impact on the company's operations.

Next Steps

• The remaining RSUs will vest quarterly, subject to continued service on the Issuer's board of directors.

Key Dates

Keywords

Veeva Systems, Form 4, Matthew J. Wallach, Restricted Stock Units, RSU, Beneficial Ownership, Director, Equity Incentive Plan, Class A Common Stock, Irrevocable Trust