Form 4: Veeva Systems Inc. Executive Stacey Epstein Reports Stock Option and RSU Grants
SEC Form 4 Filing
Chief Marketing Officer Stacey Epstein reports the acquisition of stock options and restricted stock units (RSUs) in Veeva Systems Inc. under the company's 2013 Equity Incentive Plan.
Summary
- On April 5, 2024, Stacey Epstein, Chief Marketing Officer of Veeva Systems Inc., reported the acquisition of stock options and restricted stock units.
- Epstein acquired options to buy 10,692 shares of Class A Common Stock at an exercise price of $214.73, vesting over four years starting April 1, 2025.
- Additionally, Epstein acquired options to buy 8,145 shares of Class A Common Stock at an exercise price of $214.73, vesting 100% on April 1, 2028.
- She also acquired 3,564 RSUs vesting over one year starting July 1, 2024, and 2,715 RSUs vesting 100% on April 1, 2028.
- These transactions were made under Veeva's 2013 Equity Incentive Plan and are exempt from Section 16(b) of the Securities Exchange Act of 1934.
Sentiment
Score: 7
Explanation: The document reflects a standard executive compensation practice, indicating stability and alignment of interests. The sentiment is neutral to slightly positive.
Positives
- The equity grants align the executive's interests with those of the shareholders, incentivizing long-term performance.
- The vesting schedules encourage continued service to the company.
Future Outlook
The document does not contain specific forward-looking statements, but the equity grants suggest an expectation of continued service and contribution from the executive.
Industry Context
Equity compensation is a common practice in the technology industry to attract and retain top talent. The vesting schedules are designed to align executive compensation with long-term company performance.
Comparison to Industry Standards
- Veeva's equity incentive plan is similar to those offered by other SaaS companies like Salesforce and Workday, which also use stock options and RSUs to compensate executives.
- The vesting schedules are fairly standard, with options vesting over four years and RSUs vesting over one to four years, depending on the specific grant.
Stakeholder Impact
- Shareholders may view the equity grants positively as they incentivize executive performance and align interests.
- Employees may see the grants as a sign of the company's commitment to its leadership team.
Key Dates
| Date | Description |
|---|---|
| 04/05/2024 | Date of transaction (grant of stock options and RSUs) |
| 04/01/2025 | First vesting date for 25% of the 10,692 stock options |
| 07/01/2024 | First vesting date for 1/4 of the 3,564 RSUs |
| 04/01/2028 | Vesting date for 100% of the 8,145 stock options and 2,715 RSUs |
| 04/04/2034 | Expiration date for the stock options |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.