Form 4: Veeva Systems Director Matthew Wallach Reports Transaction
SEC Form 4
Director Matthew Wallach reports a transaction involving Veeva Systems Class A Common Stock and Restricted Stock Units.
Summary
- On June 1, 2024, Matthew Wallach, a director of Veeva Systems Inc., reported a transaction.
- The transaction involved the vesting of 290 Restricted Stock Units (RSUs) which converted into Class A Common Stock.
- Wallach also indirectly holds shares 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.
- Wallach disclaims beneficial ownership of shares held by these trusts, except to the extent of any pecuniary interest.
- Following the reported transaction, Wallach directly owns 104,605 shares of Class A Common Stock.
- Wallach also has indirect ownership of 100,000 shares through Trust I, 100,002 shares through Trust II, and 50,000 shares through Trust III.
Sentiment
Score: 5
Explanation: This is a neutral informational filing. It simply reports a transaction and doesn't indicate positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for directors and officers of publicly traded companies. It provides transparency to investors regarding the trading activities of company insiders.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it represents a small percentage of the total outstanding shares.
Key Dates
| Date | Description |
|---|---|
| October 15, 2012 | Date of Matt Wallach 2012 Irrevocable Trust |
| October 15, 2012 | Date of Matt Wallach 2012 Irrevocable Non-Grantor Trust |
| August 13, 2013 | Date of Matt Wallach 2013 Irrevocable Trust |
| June 21, 2023 | Date of grant of 1,160 RSUs under the Issuer's Amended & Restated 2013 Equity Incentive Plan |
| September 1, 2023 | 1/4 of the 1,160 RSUs vested |
| June 1, 2024 | Date of transaction: Vesting of 290 Restricted Stock Units |
| June 3, 2024 | Date of signature on the Form 4 filing |
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