Veeva Systems (NYSE: VEEV) director converts 271 RSUs to shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Veeva Systems director Mark T. Carges acquired shares through an equity award. On March 1, 2026, he exercised 271 Restricted Stock Units, converting them into 271 shares of Class A Common Stock at a price of $0.00 per share in a derivative exercise.
Footnotes explain that each RSU equals one share of Class A stock and relate this to a grant of 1,084 RSUs made on June 18, 2025 under Veeva’s 2013 Equity Incentive Plan, vesting quarterly subject to continued board service. After these transactions, he also indirectly holds 12,411 Class A shares through the Mark Carges Revocable Trust.
Positive
- None.
Negative
- None.
Insider Trade Summary
271 shares exercised/converted
Mixed
3 txns
Insider
Carges Mark T
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 271 | $0.00 | -- |
| Exercise | Class A Common Stock | 271 | $0.00 | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 271 shares (Direct);
Class A Common Stock — 271 shares (Direct);
Class A Common Stock — 12,411 shares (Indirect, By Mark Carges Revocable Trust dated 01/30/2019)
Footnotes (1)
- Transaction exempt from Section 16(b) of the Securities Exchange Act of 1934 (the "Act") pursuant to Rule 16b-6(b) promulgated under the Act. The number of shares beneficially owned reflects the transfer of 542 shares of Class A Common Stock from the Reporting Person to the Mark Carges Revocable Trust dtd 1/30/19 (the "Trust"). The Reporting Person is a trustee and beneficiary of the Trust, and may be deemed to share voting and dispositive power with regard to the reported shares held by the Trust. Shares held by the Mark Carges Revocable Trust dtd 1/30/19 (the "Trust"). The Reporting Person is a trustee and beneficiary of the Trust, and may be deemed to share voting and dispositive power with regard to the reported shares held by the Trust. Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of Class A Common Stock of the Issuer. On June 18, 2025, the Reporting Person was granted 1,084 RSUs under the Issuer's Amended & Restated 2013 Equity Incentive Plan, of which 1/4 of the RSUs vested on September 1, 2025, with the remaining RSUs vesting equally on a quarterly basis thereafter, subject to continued service on the Issuer's board of directors on the applicable vesting date.
FAQ
What insider transaction did VEEVA SYSTEMS INC (VEEV) report for Mark T. Carges?
Veeva Systems reported that director Mark T. Carges acquired 271 shares of Class A Common Stock by exercising 271 Restricted Stock Units at $0.00 per share. This derivative exercise converted previously granted RSUs into common stock as part of his equity compensation.
How many Restricted Stock Units did Mark T. Carges exercise in this VEEV Form 4?
Mark T. Carges exercised 271 Restricted Stock Units, receiving 271 shares of Veeva Class A Common Stock. Each RSU represents a right to one share, so the derivative exercise directly translated the 271 RSUs into 271 common shares without any cash purchase price.
What is the background of the RSU grant disclosed for VEEV director Mark T. Carges?
The filing states that on June 18, 2025, Mark T. Carges was granted 1,084 RSUs under Veeva’s Amended & Restated 2013 Equity Incentive Plan. One quarter vested on September 1, 2025, with the rest vesting quarterly thereafter, subject to continued board service.
Was the VEEV insider transaction by Mark T. Carges a purchase or an RSU conversion?
The transaction was an RSU conversion, not an open-market purchase. The Form 4 classifies it under code M as an exercise or conversion of derivative securities, turning 271 Restricted Stock Units into 271 Class A common shares at a stated price of $0.00.