[Form 4] Veeva Systems Inc. Insider Trading Activity

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

Financial Analyst

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.

Corporate Governance Expert

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.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Wallach Matthew J

(Last) (First) (Middle)

C/O VEEVA SYSTEMS INC.

4280 HACIENDA DRIVE

(Street)

PLEASANTON CA 94588

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
VEEVA SYSTEMS INC [ VEEV ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	09/01/2025		M(1)		253	A	$0	106,173	D
Class A Common Stock								100,000(2)	I	By Matt Wallach 2012 Irrevocable Trust dated October 15, 2012
Class A Common Stock								100,002(3)	I	By Matt Wallach 2013 Irrevocable Trust dated August 13, 2013
Class A Common Stock								50,000(4)	I	By Matt Wallach 2012 Irrevocable Non-Grantor Trust dated October 15, 2012

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(5)	09/01/2025		M(1)			253	(6)	(6)	Class A Common Stock	253	$0	760	D

Explanation of Responses:

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.

2. 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.

3. 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.

4. 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.

5. Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of Class A Common Stock of the Issuer.

6. 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.

Remarks:

	/s/ Liang Dong, attorney-in-fact	09/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did VEEV director Matt Wallach report on his Form 4?

The Form 4 reports 253 RSUs vested and were acquired as Class A common stock on 09/01/2025, raising his direct holdings to 106,173 shares.

How many RSUs was Matt Wallach granted and when do they vest?

He was granted 1,013 RSUs on June 18, 2025. One-quarter (253 RSUs) vested on September 1, 2025, with the remainder vesting equally quarterly thereafter subject to continued board service.

Does the Form 4 show any indirect holdings for Matt Wallach?

Yes. The filing discloses indirect holdings of 100,000 shares (Trust I), 100,002 shares (Trust II), and 50,000 shares (Trust III), with disclaimers of beneficial ownership except for any pecuniary interest.

Was this transaction subject to Section 16(b) short-swing profit rules?

The filing states the transaction was exempt from Section 16(b) pursuant to Rule 16b-6(b).

Who signed the Form 4 filing for Matt Wallach?

The Form 4 is signed by Liang Dong, attorney-in-fact, dated 09/03/2025.