Veeva Insider Filing: 298 RSUs Converted to Shares for Director Ritter Gordon
Rhea-AI Filing Summary
Ritter Gordon, a director of Veeva Systems Inc. (VEEV), reported the vesting and receipt of 298 Restricted Stock Units (RSUs) on 09/01/2025 that converted into 298 shares of Class A common stock at no cash cost. After the transaction, the filing shows he directly holds 1,095 shares. The filing also discloses indirect holdings: 575,282 shares held by the Ritter-Metzler Revocable Trust, 92,000 shares held by GABACOR Holdings LLC, and 500,000 shares held by Emergence Capital Partners II, L.P., where the reporting person has specified limited roles and disclaimers of beneficial ownership except to the extent of pecuniary interest. The transaction was reported pursuant to Rule 16b-6(b) and relates to standard board RSU vesting.
Positive
- 298 RSUs vested into shares on 09/01/2025 at no cash cost
- Direct holdings increased to 1,095 shares following the vesting
- Clear disclosure of indirect ownership via the Ritter-Metzler Revocable Trust, GABACOR Holdings LLC, and Emergence Capital Partners II, L.P.
- Transaction reported under Rule 16b-6(b), indicating an exempt routine equity compensation event
Negative
- None.
Insights
TL;DR: Routine director RSU vesting added 298 shares to direct holdings; no cash purchase or unusual transaction terms.
The 09/01/2025 entry reflects the partial vesting of RSUs previously granted on 06/18/2025, converting 298 RSUs into shares at $0 per share. This is a standard equity compensation event for non-employee directors and was reported under an exemption (Rule 16b-6(b)). The filing notes both direct and multiple indirect ownership vehicles, with the reporting person disclaiming beneficial ownership of shares held by trusts and investment entities except for any pecuniary interest. From an investor disclosure perspective, the form is complete and routine.
TL;DR: Governance disclosure is consistent and transparent; indirect ownership and disclaimers are clearly stated.
The Form 4 clearly identifies the nature of indirect ownership: trust, an LLC, and limited partnership interests tied to Emergence entities, and explains the reporting person’s roles (trustee/beneficiary, controlling person, partner/member and director). Such granular attribution and disclaimers align with best practices for avoiding ambiguity about voting and dispositive power while disclosing potential conflicts. The transaction itself appears immaterial to control or governance change.
Insider Trade Summary
| 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 | -- | -- | -- |
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.
