Veeva Systems (VEEV) director granted 1,841 RSUs and reports trust-held shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Wallach Matthew J reported acquisition or exercise transactions in this Form 4 filing.
Veeva Systems director Matthew J. Wallach reported updated holdings of Class A Common Stock and a new equity award. The filing shows indirect holdings through several irrevocable trusts, with Wallach noted as potentially sharing voting and dispositive power while disclaiming beneficial ownership except for any pecuniary interest.
Separately, Wallach received a grant of 1,841 Restricted Stock Units (RSUs), each representing one share of Class A Common Stock at no purchase price, under Veeva’s Amended & Restated 2013 Equity Incentive Plan. These RSUs vest over one year, with one-quarter vesting on September 1, 2026 and the remainder vesting quarterly thereafter, subject to his continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
5 transactions reported
Mixed
5 txns
Insider
Wallach Matthew J
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 1,841 | $0.00 | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 1,841 shares (Direct, null);
Class A Common Stock — 106,933 shares (Direct, null);
Class A Common Stock — 100,000 shares (Indirect, By Matt Wallach 2012 Irrevocable Trust dated October 15, 2012)
Footnotes (1)
- Shares held by Matt Wallach 2012 Irrevocable Trust dated October 15, 2012 ("Trust I"). The Reporting Person may be deemed to share voting and dispositive power with regard to the reported shares held by Trust I. The Reporting Person disclaims beneficial ownership of the reported shares held by Trust I, except to the extent, if any, of his pecuniary interest therein. Shares held by Matt Wallach 2013 Irrevocable Trust dated August 13, 2013 ("Trust II"). The Reporting Person may be deemed to share voting and dispositive power with regard to the reported shares held by Trust II. The Reporting Person disclaims beneficial ownership of the reported shares held by Trust II, except to the extent, if any, of his pecuniary interest therein. Shares held by Matt Wallach 2012 Irrevocable Non-Grantor Trust dated October 15, 2012 ("Trust III"). The Reporting Person may be deemed to share voting and dispositive power with regard to the reported shares held by Trust III. The Reporting Person disclaims beneficial ownership of the reported shares held by Trust III, except to the extent, if any, of his pecuniary interest therein. Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of Class A Common Stock of the Issuer. The RSUs were granted under the Issuer's Amended & Restated 2013 Equity Incentive Plan. The Reporting Person vests ownership in the RSUs over one year with 1/4 of the RSUs vesting on September 1, 2026, and 1/4 of the RSUs vesting on a quarterly basis thereafter, subject to continued service to the Issuer by the Reporting Person.
Key Figures
RSU grant: 1,841 RSUs
RSU vesting start: September 1, 2026
Direct common shares: 106,933 shares
+4 more
7 metrics
RSU grant
1,841 RSUs
Grant of Restricted Stock Units on Class A Common Stock
RSU vesting start
September 1, 2026
Date when first 1/4 of RSUs vest
Direct common shares
106,933 shares
Class A Common Stock held directly after transactions
Trust III shares
50,000 shares
Class A Common Stock held by 2012 Irrevocable Non-Grantor Trust
Trust II shares
100,002 shares
Class A Common Stock held by 2013 Irrevocable Trust
Trust I shares
100,000 shares
Class A Common Stock held by 2012 Irrevocable Trust
RSU price
$0.00 per unit
Grant price for RSUs under equity incentive plan
Key Terms
Restricted Stock Unit, Irrevocable Trust, Irrevocable Non-Grantor Trust, Equity Incentive Plan, +1 more
5 terms
Restricted Stock Unit financial
"Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of Class A Common Stock"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
Irrevocable Trust financial
"Shares held by Matt Wallach 2013 Irrevocable Trust dated August 13, 2013 ("Trust II")."
An irrevocable trust is a legal arrangement where an owner transfers assets into a separate entity managed by a trustee and gives up the power to modify or reclaim those assets. For investors it matters because putting stock or other holdings into such a trust can change who controls and benefits from the assets, affect taxes and creditor protection, and influence how easy it is to sell or value those holdings—like placing valuables in a locked safe overseen by someone else.
Irrevocable Non-Grantor Trust financial
"Shares held by Matt Wallach 2012 Irrevocable Non-Grantor Trust dated October 15, 2012 ("Trust III")."
Equity Incentive Plan financial
"The RSUs were granted under the Issuer's Amended & Restated 2013 Equity Incentive Plan."
An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.
voting and dispositive power financial
"The Reporting Person may be deemed to share voting and dispositive power with regard to the reported shares held by Trust I."
FAQ
What did Veeva Systems (VEEV) director Matthew Wallach report on this Form 4?
Matthew J. Wallach reported updated holdings in Veeva Systems Class A Common Stock and a new grant of Restricted Stock Units. The filing details both direct and indirect ownership, including shares held through multiple irrevocable trusts associated with him.
How many Restricted Stock Units did Matthew Wallach receive from Veeva Systems (VEEV)?
Matthew Wallach received an award of 1,841 Restricted Stock Units from Veeva Systems. Each RSU represents a contingent right to receive one share of Class A Common Stock at no purchase price, subject to vesting conditions tied to his continued service.
What is the vesting schedule for Matthew Wallach’s 1,841 VEEV Restricted Stock Units?
The 1,841 RSUs vest over one year. One-quarter vests on September 1, 2026, and the remaining three-quarters vest in equal quarterly installments thereafter, provided Matthew Wallach continues to provide service to Veeva Systems during that period.
What indirect Veeva Systems (VEEV) holdings are reported for Matthew Wallach’s trusts?
The filing lists indirect holdings through several trusts, including 50,000 shares held by a 2012 Irrevocable Non-Grantor Trust and 100,002 shares held by a 2013 Irrevocable Trust. Wallach may share voting and dispositive power but disclaims beneficial ownership except for any pecuniary interest.
Under which plan were Matthew Wallach’s Veeva Systems (VEEV) RSUs granted?
The 1,841 Restricted Stock Units were granted under Veeva Systems’ Amended & Restated 2013 Equity Incentive Plan. This plan provides equity-based awards, such as RSUs, to align participants’ interests with shareholders over time through stock-based compensation.