VEEV Insider Filing: Matt Wallach Vesting Adds 253 Class A Shares
Rhea-AI Filing Summary
Matthew J. Wallach, a director of Veeva Systems Inc. (VEEV), reported a vesting transaction on 09/01/2025. On that date 253 restricted stock units (RSUs) vested (transaction coded M) and were reported as acquired at a $0 price, leaving the reporting person with 106,173 shares of Class A common stock held directly. The filing discloses additional indirect holdings: 100,000 shares held by the Matt Wallach 2012 Irrevocable Trust, 100,002 shares held by the 2013 Irrevocable Trust, and 50,000 shares held by the 2012 Irrevocable Non-Grantor Trust. The RSUs originated from a grant of 1,013 RSUs on June 18, 2025, of which one-quarter vested on September 1, 2025, with the remainder vesting quarterly subject to continued board service. The filing notes the transaction was exempt from Section 16(b) under Rule 16b-6(b).
Positive
- 253 RSUs vested and were acquired at a $0 price, increasing direct holdings to 106,173 Class A shares
- Detailed disclosure of indirect trust holdings (100,000; 100,002; 50,000 shares) clarifies voting and dispositive power
- RSU grant origin and vesting schedule (1,013 RSUs granted June 18, 2025; 1/4 vested Sept 1, 2025) is explicitly stated
Negative
- None.
Insights
TL;DR: Routine director RSU vesting increases direct share count by 253; transaction is exempt and not material to valuation.
The vesting of 253 RSUs converted into Class A shares at no cash price increases Mr. Wallach's direct holdings to 106,173 shares. The filing documents substantial additional indirect holdings across three irrevocable trusts totaling 250,002 shares. The RSU award originated from a June 18, 2025 grant of 1,013 RSUs with standard time-based vesting; one-quarter vested on September 1, 2025. This is a common director compensation event and is described as exempt under Rule 16b-6(b), indicating no Section 16(b) short-swing profit exposure for this transaction.
TL;DR: Standard equity compensation disclosure for a director; no governance red flags disclosed.
The Form 4 shows disclosure of direct and indirect holdings and the vesting schedule for RSUs granted under the company's equity incentive plan. Trust holdings are identified with disclaimers of beneficial ownership except for any pecuniary interest, which follows common governance disclosure practice. The form is signed by an attorney-in-fact, indicating proper execution. No executive departures, option repricings, related-party transactions, or unusual vesting acceleration are reported.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 253 | $0.00 | -- |
| Exercise | Class A Common Stock | 253 | $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 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. On June 18, 2025, the Reporting Person was granted 1,013 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.
