Veeva Systems (VEEV) CAO converts RSUs, withholds 957 shares for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Veeva Systems Chief Accounting Officer Vipin Kondath reported routine equity compensation activity involving restricted stock units (RSUs) and related tax withholding. On April 1, 2026, RSUs covering 2,603 shares of Class A Common Stock were converted into shares, and 957 shares were withheld to satisfy tax obligations at $172.74 per share. After these transactions, Kondath directly held 2,676 shares of Class A Common Stock. The filing notes these events are exempt from Section 16(b) and that the tax-withholding entries are not market transactions.
Positive
- None.
Negative
- None.
Insights
Routine RSU vesting with tax withholding; no open-market buying or selling.
The transactions show Vipin Kondath converting RSUs into Class A Common Stock and using a portion of the vested shares to cover tax liabilities. Codes M and F, plus the footnotes, indicate standard equity compensation mechanics rather than discretionary trading.
The filing reports 2,603 shares acquired via RSU conversion and 957 shares withheld at $172.74 to satisfy taxes, leaving 2,676 shares directly owned. Footnotes emphasize exemptions under Section 16(b) and clarify that tax withholding is not a market transaction, so informational value for sentiment is limited.
Insider Trade Summary
2,603 shares exercised/converted
Mixed
6 txns
Insider
Kondath Vipin
Role
Chief Accounting Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 2,500 | $0.00 | -- |
| Exercise | Restricted Stock Unit | 103 | $0.00 | -- |
| Exercise | Class A Common Stock | 2,500 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 914 | $172.74 | $158K |
| Exercise | Class A Common Stock | 103 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 43 | $172.74 | $7K |
Holdings After Transaction:
Restricted Stock Unit — 0 shares (Direct);
Class A Common Stock — 3,530 shares (Direct)
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. Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of Class A Common Stock of the Issuer. Represents shares that have been withheld by the Issuer to satisfy tax withholding and remittance obligations in connection with the net settlement of vested restricted stock units and not a market transaction. Transaction exempt from Section 16(b) of the Act pursuant to Rule 16b-3(e) promulgated under the Act. The RSUs were granted under the Issuer's Amended & Restated 2013 Equity Incentive Plan (the "Plan"). The Reporting Person vests 100% ownership in this RSU on April 1, 2026, subject to continued service to the Issuer by the Reporting Person. The RSUs were granted under the Plan. The Reporting Person vests ownership in the RSUs over one year with 25% vesting on July 1, 2025, and 25% vesting on a quarterly basis thereafter, subject to continued service to the Issuer by the Reporting Person.
Key Figures
RSU-derived shares acquired: 2,603 shares
Shares withheld for taxes: 957 shares
Tax withholding price: $172.74 per share
+2 more
5 metrics
RSU-derived shares acquired
2,603 shares
Underlying shares from RSU exercises on April 1, 2026
Shares withheld for taxes
957 shares
Tax withholding on RSU vesting at $172.74 per share
Tax withholding price
$172.74 per share
Value used for Class A Common Stock tax-withholding entries
Shares held after transactions
2,676 shares
Direct ownership of Class A Common Stock post-Form 4
Section 16(b) exemption rules cited
Rule 16b-6(b) and Rule 16b-3(e)
Exemptions for derivative exercises and tax-withholding dispositions
Key Terms
Restricted Stock Unit, Section 16(b), Rule 16b-6(b), Rule 16b-3(e), +2 more
6 terms
Restricted Stock Unit financial
"Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share"
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.
Rule 16b-6(b) regulatory
"exempt from Section 16(b) ... pursuant to Rule 16b-6(b) promulgated under the Act"
Rule 16b-3(e) regulatory
"Transaction exempt from Section 16(b) of the Act pursuant to Rule 16b-3(e)"
net settlement financial
"in connection with the net settlement of vested restricted stock units"
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.
FAQ
What did Veeva Systems (VEEV) insider Vipin Kondath report on this Form 4?
Vipin Kondath reported RSU vesting and related share withholding, not open-market trades. RSUs for 2,603 shares of Class A Common Stock were converted, and 957 shares were withheld to cover taxes, leaving 2,676 shares directly owned after the transactions.
What was the tax withholding price in the Veeva Systems (VEEV) Form 4 filing?
Shares withheld to cover taxes were valued at $172.74 per share. A total of 957 shares of Class A Common Stock were used to satisfy tax withholding and remittance obligations arising from net settlement of vested RSUs, according to the Form 4 footnotes.
How many restricted stock units vested or converted in this Veeva Systems (VEEV) filing?
The filing shows RSU-related derivative exercises covering 2,603 underlying shares. Two RSU entries, for 2,500 and 103 underlying shares, were converted into Class A Common Stock, consistent with footnotes stating each RSU represents a contingent right to receive one share.
Are the Veeva Systems (VEEV) insider transactions exempt under Section 16(b)?
Yes. Footnotes state the RSU-related transactions are exempt from Section 16(b) under Rule 16b-6(b), and the tax-withholding dispositions are exempt under Rule 16b-3(e). These rules cover derivative exercises and issuer-directed share withholding for compensation and tax purposes.