Form 4: Veeva Systems Officer Reports Stock Transactions
Insider Transaction Report
Veeva Systems' President and Chief Customer Officer, Thomas D. Schwenger, reported the acquisition of shares from vested restricted stock units and subsequent sale for tax obligations.
Summary
- Thomas D. Schwenger, President & Chief Customer Officer of Veeva Systems Inc., reported transactions under a Rule 10b5-1(c) plan.
- Acquired 2,042 shares of Class A Common Stock through the vesting of Restricted Stock Units (RSUs) on January 1, 2026, with a deemed price of $0.
- Disposed of 631 shares of Class A Common Stock on January 1, 2026, at a price of $223.23 per share, to satisfy tax withholding obligations related to the net settlement of vested restricted stock units.
- Following these transactions, Schwenger beneficially owns 24,204 shares of Class A Common Stock directly.
- He also holds 2,043 derivative securities (RSUs) directly.
Sentiment
Score: 5
Explanation: The filing reports routine insider transactions related to executive compensation, which is a neutral event in terms of company performance or strategic direction.
Positives
- The vesting of 2,042 Restricted Stock Units (RSUs) indicates continued executive compensation and retention of a key officer.
- The transactions were made pursuant to a Rule 10b5-1(c) plan, indicating pre-scheduled and compliant insider trading activity.
Negatives
- The disposition of 631 shares of Class A Common Stock, even for tax purposes, reduces the officer's direct beneficial ownership in the company.
Future Outlook
The remaining Restricted Stock Units (RSUs) will continue to vest quarterly after July 1, 2025, subject to the reporting person's continued service to the Issuer.
Industry Context
This filing represents a routine insider transaction, common across publicly traded companies, where executives receive equity compensation (RSUs) and subsequently sell a portion to cover tax liabilities upon vesting. It does not reflect broader industry trends or competitive positioning.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Compensation Plan Utilization | The transactions were conducted under the Issuer's Amended & Restated 2013 Equity Incentive Plan. | 01/01/2026 | Demonstrates the ongoing use of the company's established equity compensation framework for executives. |
| Insider Trading Compliance | The transaction was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). | 01/01/2026 | Indicates adherence to SEC regulations designed to prevent insider trading by pre-scheduling transactions. |
Related Party Transactions
- The acquisition of 2,042 shares of Class A Common Stock resulted from the vesting of Restricted Stock Units granted by Veeva Systems Inc. to its President and Chief Customer Officer, Thomas D. Schwenger.
- The disposition of 631 shares of Class A Common Stock was executed by Veeva Systems Inc. on behalf of Thomas D. Schwenger to satisfy tax withholding obligations related to the RSU vesting.
Stakeholder Impact
- Shareholders: Minimal direct impact as these are routine compensation-related transactions and do not signal a change in company fundamentals or strategy.
- Employees: Reinforces the company's executive compensation structure, potentially influencing broader employee compensation perceptions.
Next Steps
- Remaining Restricted Stock Units (RSUs) will vest on a quarterly basis after July 1, 2025, subject to continued service.
Key Dates
| Date | Description |
|---|---|
| 07/01/2025 | 25% of the granted RSUs vested. |
| 01/01/2026 | Transaction date for RSU vesting and subsequent disposition of shares for tax withholding. |
| 01/05/2026 | Signature date of the reporting person's attorney-in-fact for the filing. |
Keywords
VEEV, Veeva Systems, Insider Transaction, Form 4, Restricted Stock Units, Executive Compensation, Stock Vesting, Rule 10b5-1
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