Form 4: Veeva Systems Director Timothy Cabral Granted Restricted Stock Units

Veeva Systems Inc. Director Timothy S. Cabral was granted 1,049 Restricted Stock Units (RSUs) under the company's equity incentive plan, aligning his interests with shareholders.

Summary

• Timothy S. Cabral, a Director of Veeva Systems Inc. (VEEV), was granted 1,049 Restricted Stock Units (RSUs) on June 18, 2025.
• Each RSU represents a contingent right to receive one share of Veeva's Class A Common Stock.
• The RSUs were granted under the Issuer's Amended & Restated 2013 Equity Incentive Plan.
• The vesting schedule for these RSUs is over one year, with 25% (1/4) vesting on September 1, 2025, and subsequent 25% portions vesting on a quarterly basis thereafter, contingent on Mr. Cabral's continued service to the Issuer.
• Following this transaction, Mr. Cabral directly beneficially owns 1,049 derivative securities (RSUs).
• Additionally, Mr. Cabral indirectly beneficially owns 5,500 shares of Class A Common Stock through the Cabral Family Trust, dated April 17, 2001, where he serves as a trustee and beneficiary.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as the RSU grant aligns the director's interests with shareholders and is a standard practice for incentivizing long-term commitment. There are no negative implications from this specific filing.

Positives

• The grant of Restricted Stock Units (RSUs) to Director Timothy S. Cabral aligns his financial interests with those of the company's shareholders, as the value of his compensation is tied to the company's stock performance.
• The use of the Amended & Restated 2013 Equity Incentive Plan indicates a structured approach to executive and director compensation, utilizing equity to incentivize long-term commitment and performance.

Risks

• The value of the granted RSUs is subject to market fluctuations of Veeva Systems' Class A Common Stock, meaning the actual value realized by Mr. Cabral upon vesting could be lower than the value at the time of grant if the stock price declines.
• Vesting of the RSUs is contingent upon Mr. Cabral's continued service to the Issuer, posing a risk of forfeiture if his service terminates prior to full vesting.

Future Outlook

The document indicates future vesting events for the granted RSUs, with the first tranche vesting on September 1, 2025, and subsequent tranches vesting quarterly thereafter, subject to continued service.

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction, specifically an equity grant to a director. Such grants are a common practice across various industries, including the software and life sciences technology sectors where Veeva Systems operates, to align management and director incentives with shareholder value creation.

Corporate Governance

Related Party Transactions

• Timothy S. Cabral indirectly beneficially owns 5,500 shares of Class A Common Stock through the Cabral Family Trust, dated April 17, 2001. Mr. Cabral is a trustee and beneficiary of this trust, indicating a related party holding.

Stakeholder Impact

• Shareholders: The RSU grant aligns the director's interests with shareholders, potentially leading to more shareholder-friendly decisions as the director's compensation is tied to stock performance.
• Employees: While not directly impacting all employees, the use of equity incentive plans can set a precedent for compensation structures within the company.

Next Steps

• The first tranche of 25% of the granted RSUs is scheduled to vest on September 1, 2025.
• Subsequent tranches of 25% of the RSUs will vest on a quarterly basis thereafter, subject to continued service.

Key Dates

Keywords

Veeva Systems, VEEV, SEC Form 4, Restricted Stock Units, RSU, Equity Compensation, Insider Transaction, Beneficial Ownership, Director Compensation, Stock Grant