Form 4: Veeva Systems Director Timothy Cabral Sells Shares Under 10b5-1 Plan

Director Timothy Cabral sold shares of Veeva Systems Inc. (VEEV) on March 7, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On March 7, 2024, Timothy Cabral, a director of Veeva Systems Inc., sold shares of Class A Common Stock.
• The sales were executed under a Rule 10b5-1 trading plan adopted on June 30, 2023.
• Cabral sold 8,094 shares at a weighted average price of $225.6222, 6,408 shares at a weighted average price of $226.48, and 498 shares at a weighted average price of $227.2842.
• Following the transactions, Cabral directly owns 833 shares of Class A Common Stock.
• Cabral also indirectly owns shares through the Cabral Family Trust, dated April 17, 2001, with 30,297 shares, 23,889 shares, and 23,391 shares after each respective sale.

Sentiment

Score: 5

Explanation: The document simply reports insider trading activity under a pre-existing plan, which is neither particularly positive nor negative.

Industry Context

Sales by insiders are a common occurrence and are often pre-planned to avoid accusations of trading on non-public information. The use of a 10b5-1 plan provides a legal framework for insiders to sell shares at predetermined times and prices.

Stakeholder Impact

• The share sales could have a minor impact on shareholders, potentially creating slight downward pressure on the stock price in the short term.

Key Dates