Form 4: Veeva Systems Interim CFO Timothy Cabral Sells Shares Under 10b5-1 Trading Plan

Interim CFO of Veeva Systems, Timothy Cabral, executed sales of Class A Common Stock on June 7, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Timothy Cabral, the Interim CFO of Veeva Systems, sold shares of Class A Common Stock on June 7, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on June 30, 2023.
• The transactions involved multiple sales at varying prices, with weighted average prices reported for each set of transactions.
• Cabral sold 8,238 shares at a weighted average price of $183.9501, 6,366 shares at $184.7356, and 396 shares at $185.6643.
• Following the reported transactions, Cabral directly owns 1,111 shares and indirectly owns shares through the Cabral Family Trust.
• The Cabral Family Trust, dated April 17, 2001, holds 15,153, 8,787 and 8,391 shares after each transaction respectively.
• Liang Dong, attorney-in-fact, signed the Form 4 on behalf of Timothy Cabral.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing stock sales by an executive, which is neutral in sentiment. The sales were pre-planned under a 10b5-1 trading plan.

Industry Context

Insider trading activity is closely monitored in the pharmaceutical and life sciences technology sector, where Veeva Systems operates, as it can provide insights into management's perspective on the company's prospects.

Stakeholder Impact

• The stock sale by an insider could be perceived negatively by some shareholders, although the existence of a 10b5-1 plan mitigates this concern.

Key Dates