Form 4: Veeva Systems Director Matthew Wallach Reports Changes in Beneficial Ownership

Director Matthew Wallach reports acquisition of restricted stock units and details beneficial ownership of Class A Common Stock through various irrevocable trusts.

Summary

• On June 19, 2024, Matthew J Wallach, a director of Veeva Systems Inc., reported changes in his beneficial ownership of the company's securities.
• Wallach acquired 1,315 Restricted Stock Units (RSUs) which represent a contingent right to receive one share of Class A Common Stock of the Issuer.
• These RSUs were granted under the Issuer's Amended & Restated 2013 Equity Incentive Plan and vest over one year, with 1/4 vesting on September 1, 2024, and the remainder vesting quarterly thereafter, contingent upon continued service.
• Wallach also reported beneficial ownership of Class A Common Stock held through several irrevocable trusts: Matt Wallach 2012 Irrevocable Trust, Matt Wallach 2013 Irrevocable Trust, and Matt Wallach 2012 Irrevocable Non-Grantor Trust.
• Wallach disclaims beneficial ownership of the shares held by these trusts, except to the extent of any pecuniary interest therein.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a standard SEC filing detailing changes in beneficial ownership. The acquisition of RSUs is a slightly positive indicator, but overall, the document is informational.

Positives

• The acquisition of RSUs by a director signals confidence in the company's future performance.

Future Outlook

The RSUs vest over one year contingent upon continued service, indicating an ongoing commitment from the director.

Industry Context

This filing is a routine disclosure related to insider transactions, which are common in publicly traded companies. It provides transparency to investors regarding the holdings and transactions of company insiders.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider transactions.

Key Dates