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

Thomas D. Schwenger, President and COO of Veeva Systems Inc., reports the vesting of restricted stock units and associated tax withholding.

Summary

• On April 1, 2024, Thomas D. Schwenger, President and COO of Veeva Systems Inc., engaged in transactions involving Class A Common Stock.
• Specifically, 2,268 Restricted Stock Units (RSUs) vested, converting into 2,268 shares of Class A Common Stock.
• Additionally, 652 shares were withheld by Veeva Systems Inc. to cover tax obligations related to the RSU vesting at a price of $230.39 per share.
• Following these transactions, Schwenger directly owns 25,958 shares of Class A Common Stock.

Sentiment

Score: 7

Explanation: The document reflects routine executive compensation activity. It is neither overwhelmingly positive nor negative, but rather a standard disclosure.

Future Outlook

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

Industry Context

This Form 4 filing is a routine disclosure of insider transactions, providing transparency to the market regarding the actions of company executives. It is standard practice for executives to receive and vest stock options or restricted stock units as part of their compensation packages.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.
• Employees may be interested in the vesting schedule of RSUs as it relates to their own compensation.

Key Dates