VEEV Form 4: 2,043 RSUs Vest, 3,350 Shares Sold at $300.04
Rhea-AI Filing Summary
Thomas D. Schwenger, President & Chief Customer Officer of Veeva Systems Inc. (VEEV), reported equity activity tied to vested restricted stock units and a preplanned sale. On 10/01/2025 2,043 RSUs vested (each convertible into one share) and 894 shares were withheld to satisfy tax obligations leaving 27,123 shares owned. On 10/02/2025 the reporting person sold 3,350 shares under a Rule 10b5-1 trading plan at a weighted average price of $300.0417, resulting in 23,773 shares beneficially owned following the transactions. The Form 4 was signed on 10/03/2025 by an attorney-in-fact.
Positive
- 2,043 RSUs vested, converting to 2,043 shares as compensation
- Tax withholding of 894 shares implemented via net settlement rather than open-market sale
Negative
- 3,350 shares sold under a Rule 10b5-1 plan at a weighted average of $300.0417, reducing beneficial ownership to 23,773 shares
Insights
Insider received vested compensation and executed a preplanned sale; both are routine corporate actions.
The 2,043 vested RSUs reflect compensation converting into shares at $0 cost to the reporting person, with 894 shares withheld for taxes rather than sold on market which is a non-market tax withholding event.
The 3,350 share sale on 10/02/2025 was effected under a Rule 10b5-1 plan adopted on 1/07/2025, indicating the trades were preplanned and not necessarily contemporaneous insider decisions.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 3,350 | $300.0417 | $1.01M |
| Exercise | Restricted Stock Units | 2,043 | $0.00 | -- |
| Exercise | Class A Common Stock | 2,043 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 894 | $293.26 | $262K |
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 sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on January 7, 2025. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $300.0000 to $300.0600 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The RSUs were granted under the Issuer's Amended & Restated 2013 Equity Incentive Plan. The Reporting Person vests ownership in the RSUs over one year with 25% vesting on July 1, 2025, and 25% of the RSUs vesting on a quarterly basis thereafter, subject to continued service to the Issuer by the Reporting Person.
