Veeva Systems (NYSE: VEEV) counsel exercises RSUs, shares withheld for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Veeva Systems SVP and General Counsel Jonathan Faddis reported routine equity compensation activity involving restricted stock units (RSUs) and related tax withholding. On July 1, 2026, he exercised RSUs covering 1,635 shares of Class A Common Stock, converting them into common shares.
To cover tax obligations on the vesting, 832 shares were withheld by Veeva at a value of $184.22 per share, which the filing specifies was not a market transaction. Following these transactions, Faddis directly owned 10,160 shares of Class A Common Stock and held 4,906 RSUs, which vest over time under the company’s Amended & Restated 2013 Equity Incentive Plan, including a schedule with 1/4 vesting on July 1, 2026 and additional quarterly vesting thereafter, subject to continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
1,635 shares exercised/converted
Mixed
3 txns
Insider
Faddis Jonathan
Role
SVP, Gen. Counsel, Secretary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 1,635 | $0.00 | -- |
| Exercise | Class A Common Stock | 1,635 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 832 | $184.22 | $153K |
Holdings After Transaction:
Restricted Stock Units — 4,906 shares (Direct, null);
Class A Common Stock — 10,160 shares (Direct, null)
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 Reporting Person vests ownership in the RSUs over 1-year with 1/4 of the RSUs vesting on July 1, 2026, and 1/4 of the RSUs vesting on a quarterly basis thereafter, subject to continued service to the Issuer by the Reporting Person.
Key Figures
Tax-withheld shares: 832 shares at $184.22/share
RSUs exercised: 1,635 RSUs
Shares held after transactions: 10,160 shares
+2 more
5 metrics
Tax-withheld shares
832 shares at $184.22/share
Shares withheld to satisfy tax obligations on RSU vesting
RSUs exercised
1,635 RSUs
Converted into Class A Common Stock on July 1, 2026
Shares held after transactions
10,160 shares
Direct Class A Common Stock ownership following Form 4 transactions
RSUs remaining
4,906 RSUs
Restricted Stock Units outstanding after the reported exercise
Tax-withholding transactions
1 transaction, 832 shares
Summary classification of tax-withholding disposition activity
Key Terms
Restricted Stock Units, Section 16(b), Rule 16b-3(e), Equity Incentive Plan, +1 more
5 terms
Restricted Stock Units financial
"The RSUs were granted under the Issuer's Amended & Restated 2013 Equity Incentive Plan."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
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-3(e) regulatory
"Transaction exempt from Section 16(b) of the Act pursuant to Rule 16b-3(e) promulgated under the Act."
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.
derivative exercise/conversion financial
"transaction_action: derivative exercise/conversion for RSUs into Class A Common Stock."
FAQ
What insider transactions did VEEVA SYSTEMS INC (VEEV) report for Jonathan Faddis?
Jonathan Faddis exercised restricted stock units for 1,635 shares of Class A Common Stock and had 832 shares withheld to cover tax obligations. These transactions reflect routine equity compensation activity, not open-market buying or selling of Veeva Systems stock.
Was there an open-market sale or purchase of VEEVA SYSTEMS INC (VEEV) stock in this Form 4?
No open-market trades occurred. The filing shows RSU exercises and 832 shares withheld by the issuer for taxes at $184.22 per share. The footnotes state this withholding is not a market transaction and is exempt under Rule 16b-3(e) of the Exchange Act.
What are the key details of the RSUs reported for VEEVA SYSTEMS INC (VEEV)?
Each RSU represents a contingent right to receive one share of Veeva Systems Class A Common Stock. The RSUs were granted under the Amended & Restated 2013 Equity Incentive Plan and vest over one year, with 1/4 vesting on July 1, 2026 and additional quarterly vesting thereafter.
How does this VEEVA SYSTEMS INC (VEEV) Form 4 classify the insider’s activities?
The Form 4 classifies the activities as one derivative exercise/conversion of 1,635 RSUs and one tax-withholding disposition of 832 shares. The transaction summary shows no buys or sells, net buy-sell shares of zero, and overall neutral net buy-sell direction.