Form 4: Veeva Systems Executive Thomas D. Schwenger Reports Stock Transactions

Thomas D. Schwenger, Pres. & Chief Customer Officer of Veeva Systems, reports acquisition of shares through RSU vesting and disposition of shares to cover tax obligations.

Summary

• On July 1, 2024, Thomas D. Schwenger, Pres. & Chief Customer Officer of Veeva Systems, acquired 1,909 shares of Class A Common Stock upon the vesting of Restricted Stock Units (RSUs).
• The price per share for the RSU vesting was $0.
• Also on July 1, 2024, Schwenger disposed of 802 shares of Class A Common Stock at a price of $181.67 to cover tax withholding obligations related to the RSU vesting.
• Following these transactions, Schwenger directly owns 27,065 shares of Class A Common Stock and 5,727 Restricted Stock Units.
• The RSUs vest over one year, with 25% vesting on July 1, 2024, and the remaining 75% vesting quarterly thereafter, contingent upon continued service to Veeva Systems.

Sentiment

Score: 5

Explanation: Neutral sentiment as it's a standard regulatory filing detailing stock transactions.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the trading activities of company executives.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders as they are related to executive compensation and tax obligations.

Key Dates