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

Director Matthew J Wallach reports changes in beneficial ownership of Veeva Systems Inc. stock, including transactions involving restricted stock units and irrevocable trusts.

Summary

• On March 1, 2025, Matthew J Wallach, a director of Veeva Systems Inc., reported changes in his beneficial ownership of the company's Class A Common Stock.
• The transactions included the vesting of 328 restricted stock units (RSUs) at a price of $0, resulting in an increase in direct ownership to 105,591 shares.
• Wallach also has indirect ownership through several irrevocable trusts: Matt Wallach 2012 Irrevocable Trust (100,000 shares), Matt Wallach 2013 Irrevocable Trust (100,002 shares), and Matt Wallach 2012 Irrevocable Non-Grantor Trust (50,000 shares).
• Wallach disclaims beneficial ownership of shares held by the trusts, except to the extent of any pecuniary interest.
• The RSUs were granted on June 19, 2024, under the company's equity incentive plan and vest quarterly, subject to continued service on the board.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing changes in beneficial ownership due to RSU vesting, which is neither particularly positive nor negative.

Positives

• The vesting of RSUs indicates continued alignment of the director's interests with those of the shareholders.

Future Outlook

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

Industry Context

Form 4 filings are standard disclosures required by the SEC to provide transparency regarding the transactions of company insiders. This filing indicates routine vesting of previously granted equity compensation.

Stakeholder Impact

• The vesting of RSUs aligns the director's interests with shareholders.

Key Dates