Form 4: Veeva Systems Director Matthew Wallach Reports Transaction in Class A Common Stock

Director Matthew Wallach reports a transaction involving Class A Common Stock and Restricted Stock Units of Veeva Systems Inc.

Summary

• On September 1, 2024, Matthew Wallach, a director of Veeva Systems Inc., reported a transaction.
• The transaction involved the vesting of 329 Restricted Stock Units (RSUs) and the acquisition of 329 shares of Class A Common Stock upon vesting of these RSUs.
• Wallach directly owns 104,934 shares of Class A Common Stock following the reported transaction.
• 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 reported transaction is exempt from Section 16(b) of the Securities Exchange Act of 1934 per Rule 16b-6(b).
• Wallach was granted 1,315 RSUs on June 19, 2024, under the company's equity incentive plan, vesting quarterly subject to continued service on the board.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it's a standard disclosure of insider transactions. The vesting of RSUs is a positive sign of alignment, but it's not a major event.

Positives

• The vesting of RSUs indicates continued alignment of the director's interests with those of the shareholders.
• The director's continued service on the board is a condition for the vesting of the remaining RSUs.

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 related to insider transactions, which are common in publicly traded companies. It provides transparency to investors regarding the trading activities of company insiders.

Stakeholder Impact

• The disclosure provides transparency to shareholders regarding insider transactions.
• The vesting of RSUs aligns the director's interests with those of the shareholders.

Key Dates