[Form 4] Veeva Systems Inc. Insider Trading Activity

Rhea-AI Filing Summary

Mark T. Carges, a director of Veeva Systems Inc. (VEEV), reported the vesting and receipt of 271 shares of Class A common stock on 09/01/2025 at a reported price of $0, resulting from the vesting of restricted stock units (RSUs). The filing shows 11,869 shares held indirectly by the Mark Carges Revocable Trust dated 01/30/2019, and 271 shares held directly following the transaction, for a combined reported direct and indirect beneficial ownership of 12,140 shares. The RSU grant referenced was for 1,084 RSUs awarded on 06/18/2025, with one-quarter (271 RSUs) vesting on 09/01/2025 and the remainder vesting quarterly thereafter, subject to continued board service. The filing was signed by an attorney-in-fact on behalf of the reporting person.

Positive

• 271 RSUs vested and converted to Class A shares, increasing the director's direct ownership in the company
• Substantial indirect ownership retained via the Mark Carges Revocable Trust (11,869 shares), indicating continued alignment with company outcomes
• Unvested RSUs remain (813 following this vesting), maintaining ongoing service-based alignment with the issuer

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director vested 271 RSUs, aligning ownership with shareholders and subject to ongoing service-based vesting.

The Form 4 discloses a routine, service-based vesting event for a board member. The grant of 1,084 RSUs on 06/18/2025 with 1/4 vesting on 09/01/2025 is consistent with typical equity compensation practices for non-employee directors, supporting alignment of incentives with long-term performance. The report shows both direct ownership (271 shares post-vest) and substantial indirect ownership via a revocable trust (11,869 shares), which may indicate continued economic exposure to the issuer. No trading for cash proceeds or sales is reported; the transaction is an issuance/vesting event reported at $0 per share as expected for RSU settlements.

Securities Analyst

TL;DR: This is a non-cash RSU vesting disclosure with limited market impact.

The filing documents the vesting and conversion of RSUs into 271 Class A shares on 09/01/2025 from a 1,084 RSU grant made on 06/18/2025. Following the vesting, the reporting person holds 271 shares directly and 11,869 indirectly through a trust; 813 RSUs remain unvested per the filing. Because the transaction is a scheduled vesting event and not a sale, it is unlikely to be materially market-moving by itself. The Form 4 cites an exemption under Rule 16b-6(b), which is typical for such awards.

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^*

Carges Mark T

(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)		271	A	$0	271	D
Class A Common Stock								11,869	I	By Mark Carges Revocable Trust dated 01/30/2019(2)

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	(3)	09/01/2025		M(1)			271	(4)	(4)	Class A Common Stock	271	$0	813	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. The shares are held by the Trust.

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

4. On June 18, 2025, the Reporting Person was granted 1,084 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 transaction did Mark T. Carges report on the Form 4 for VEEV?

The Form 4 reports the vesting and receipt of 271 Class A shares on 09/01/2025, arising from RSUs.

How many RSUs were originally granted and when was the grant dated?

The filing states a grant of 1,084 RSUs awarded on 06/18/2025 under the company equity plan.

How many shares does the reporting person beneficially own after the reported transaction?

Following the transaction, the filing shows 271 shares held directly and 11,869 shares held indirectly via a revocable trust, totaling 12,140 shares.

Are there remaining unvested RSUs after the 09/01/2025 vesting?

Yes. The filing indicates 813 RSUs remain unvested following the 271-RSU vesting on 09/01/2025.

Was the reported transaction a sale or purchase for cash?

No. The transaction is a vesting/issuance of RSUs reported at a price of $0, not a cash sale or purchase.