Form 4: Veeva Systems Executive Jonathan Faddis Sells 1,694 Shares Under 10b5-1 Plan

Jonathan Faddis, SVP, Gen. Counsel, and Secretary at Veeva Systems, sold 1,694 shares of Class A Common Stock at $230.3 per share on December 4, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Jonathan Faddis, a senior executive at Veeva Systems, sold 1,694 shares of the company's Class A Common Stock.
• The sale occurred on December 4, 2024, at a price of $230.3 per share.
• This transaction was executed under a pre-established Rule 10b5-1 trading plan adopted on December 21, 2023.
• Following the sale, Faddis directly owns 8,061 shares of Veeva Systems stock.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of an insider stock sale under a pre-arranged plan, which is neither positive nor negative for the company's overall outlook.

Industry Context

This is a routine disclosure of an insider stock sale, which is common for executives of publicly traded companies. The use of a 10b5-1 plan indicates the sale was pre-planned and not based on any non-public information.

Comparison to Industry Standards

• The use of a 10b5-1 trading plan is a standard practice among executives at publicly traded companies like Veeva Systems, similar to practices at companies such as Salesforce (CRM) and Workday (WDAY).
• These plans allow insiders to sell shares without concerns about insider trading violations, aligning with regulatory expectations.
• The volume of shares sold is relatively small compared to the total outstanding shares of Veeva Systems, which is typical for routine executive sales.

Stakeholder Impact

• The sale has a minimal impact on shareholders as it is a small transaction by an executive under a pre-arranged plan.

Key Dates

Keywords

Veeva Systems, insider trading, Form 4, stock sale, Rule 10b5-1, Jonathan Faddis, executive transaction