Form 4: Veeva Systems Executive Eleni Nitsa Zuppas Reports Stock Transactions

Eleni Nitsa Zuppas, President & Chief of Staff at Veeva Systems, reports the vesting of restricted stock units and shares withheld for tax obligations.

Summary

• On January 1, 2025, Eleni Nitsa Zuppas, President & Chief of Staff at Veeva Systems Inc., engaged in transactions involving Class A Common Stock.
• Zuppas vested 1,323 Restricted Stock Units (RSUs), each representing a contingent right to receive one share of Class A Common Stock.
• 517 shares were withheld by Veeva Systems to satisfy tax withholding obligations related to the settlement of vested RSUs at a price of $210.25.
• Following these transactions, Zuppas directly owns 22,779 shares of Class A Common Stock and 1,324 Restricted Stock Units.
• The vesting of RSUs is governed by Veeva's Amended & Restated 2013 Equity Incentive Plan, with vesting occurring over one year, beginning with 25% on July 1, 2024, and then 25% quarterly, contingent upon continued service.

Sentiment

Score: 7

Explanation: Neutral sentiment. This is a routine filing related to executive compensation and tax obligations. It doesn't indicate any significant positive or negative developments for the company.

Positives

• The vesting of RSUs indicates a form of compensation and incentive for the reporting person.
• Continued vesting schedule suggests ongoing commitment to the company.

Negatives

• Shares were withheld to cover tax obligations, reducing the number of shares directly received by the reporting person.

Future Outlook

The reporting person will continue to vest in RSUs quarterly, subject to continued service to the Issuer.

Industry Context

Form 4 filings are standard practice for reporting insider transactions, providing transparency to investors regarding the buying and selling activities of company executives and directors. This filing indicates routine compensation and tax-related transactions.

Comparison to Industry Standards

• Veeva Systems' equity compensation plans are common in the software industry to attract and retain talent.
• Companies like Salesforce (CRM) and Workday (WDAY) also utilize RSUs as part of their compensation packages.
• The vesting schedules and terms are generally competitive within the tech sector to align employee incentives with company performance.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders.
• The filing provides transparency to shareholders regarding executive compensation.

Key Dates