Veeva Systems (NYSE: VEEV) director converts 298 RSUs, reports large indirect holdings
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Veeva Systems director Gordon Ritter reported equity activity involving Class A Common Stock and Restricted Stock Units. He exercised 298 RSUs into 298 shares of Class A Common Stock at a stated price of $0.00 per share, bringing his directly held shares to 595.
The filing also lists large indirect holdings through entities associated with him, including Emergence Capital Partners II, L.P., GABACOR Holdings LLC, and the Ritter-Metzler Revocable Trust. Footnotes explain he may be deemed to share voting and dispositive power but disclaims beneficial ownership beyond any pecuniary interest.
Footnotes further note that 1,191 RSUs were granted on June 18, 2025, with one quarter vesting on September 1, 2025 and the remainder vesting quarterly, subject to continued board service. No open-market purchases or sales are reported in this filing.
Positive
- None.
Negative
- None.
Insider Trade Summary
298 shares exercised/converted
Mixed
5 txns
Insider
Ritter Gordon
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 298 | $0.00 | -- |
| Exercise | Class A Common Stock | 298 | $0.00 | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 0 shares (Direct, null);
Class A Common Stock — 595 shares (Direct, null);
Class A Common Stock — 575,576 shares (Indirect, By the Ritter-Metzler Revocable Trust dated November 6, 2000)
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. Shares held by The Ritter-Metzler Revocable Trust dated November 6, 2000 (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. The Reporting Person disclaims beneficial ownership of the reported shares held by the Trust, except to the extent, if any, of his pecuniary interest therein. Shares held by GABACOR Holdings LLC ("GABACOR"). The Reporting Person is a controlling person of GABACOR and may be deemed to share voting and dispositive power with regard to the reported shares held by GABACOR. The Reporting Person disclaims beneficial ownership of the reported shares held by GABACOR, except to the extent, if any, of his pecuniary interest therein. The sole general partner of Emergence Capital Partners II, L.P. ("Emergence") is Emergence Equity Partners II, L.P. ("EEP II"), and the sole general partner of EEP II is Emergence GP Partners, LLC ("EGP", and together with Emergence and EEP II, the "Emergence Entities"), and each of EEP II and EGP may be deemed to have sole voting and dispositive power with respect to the shares held by Emergence, and EGP may be deemed to have sole voting and dispositive power with respect to the shares held by EEP II. The Reporting Person is a partner of EEP II and a member of EGP and serves on the Issuer's board of directors. The Reporting Person disclaims beneficial ownership of the reported shares held by the Emergence Entities except to the extent of his pecuniary interest therein, if any, by virtue of the limited liability company interest he owns in EGP and the partnership interest he owns in EEP II. 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 1,191 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.
Key Figures
RSUs exercised: 298 shares
Direct Class A shares after exercise: 595 shares
Trust indirect holdings: 575,576 shares
+4 more
7 metrics
RSUs exercised
298 shares
Converted into Class A Common Stock at $0.00 per share
Direct Class A shares after exercise
595 shares
Direct holdings following the RSU conversion
Trust indirect holdings
575,576 shares
Held by the Ritter-Metzler Revocable Trust
Emergence Capital indirect holdings
500,000 shares
Held by Emergence Capital Partners II, L.P.
GABACOR indirect holdings
92,000 shares
Held by GABACOR Holdings LLC
RSUs granted
1,191 RSUs
Grant on June 18, 2025 under 2013 Equity Incentive Plan
Initial vesting portion
1/4 of 1,191 RSUs
Vested on September 1, 2025, remaining vest quarterly
Key Terms
Restricted Stock Unit, Section 16(b), voting and dispositive power, pecuniary interest, +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.
Section 16(b) regulatory
"Transaction exempt from Section 16(b) of the Securities Exchange Act of 1934"
A federal rule that requires company insiders—like officers, directors and large shareholders—to return any profits made from buying and selling the company’s stock within a six-month window. It matters to investors because it discourages short-term trades that could exploit non-public information and helps protect outside shareholders by creating a simple, enforceable way to recover unfair gains, much like a rule stopping someone from flipping a limited-edition item for quick profit after getting early access.
voting and dispositive power financial
"may be deemed to share voting and dispositive power with regard to the reported shares"
pecuniary interest financial
"disclaims beneficial ownership of the reported shares ... except to the extent, if any, of his pecuniary interest therein"
Equity Incentive Plan financial
"granted 1,191 RSUs 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.
FAQ
What insider activity did VEEVA SYSTEMS INC director Gordon Ritter report on this Form 4?
Gordon Ritter reported exercising 298 Restricted Stock Units into 298 shares of Class A Common Stock at $0.00 per share. After this derivative exercise, he directly holds 595 Class A shares, with no open-market purchases or sales disclosed in the filing.
What are the terms of Gordon Ritter’s Restricted Stock Units from Veeva Systems (VEEV)?
The footnotes state Ritter was granted 1,191 RSUs on June 18, 2025 under Veeva’s 2013 Equity Incentive Plan. One quarter vested on September 1, 2025, and the remaining RSUs vest in equal quarterly installments, contingent on continued service on Veeva’s board of directors.
Does this Veeva Systems (VEEV) Form 4 include any open-market stock sales or purchases?
The Form 4 does not report any open-market purchases or sales of Veeva shares. It mainly records a derivative exercise of 298 Restricted Stock Units into Class A Common Stock and updates indirect ownership entries held through various entities associated with Gordon Ritter.
What regulatory exemption is referenced for Gordon Ritter’s VEEV equity transaction?
A footnote explains the reported transaction is exempt from Section 16(b) of the Securities Exchange Act of 1934 under Rule 16b-6(b). Section 16(b) addresses short-swing profits by insiders, and this exemption applies specifically to the type of derivative-related transaction disclosed.