Gassner Peter P 4
4 · VEEVA SYSTEMS INC · Filed Feb 8, 2023
Insider Transaction Report
Form 4
Gassner Peter P
DirectorChief Executive Officer10% Owner
Transactions
- Exercise/Conversion
Class B Common Stock
2023-02-07+1,404,458→ 14,391,791 totalExercise: $3.92→ Class A Common Stock (1,404,458 underlying) - Exercise/Conversion
Stock Option (right to buy)
2023-02-07−1,404,458→ 0 totalExercise: $3.92Exp: 2023-03-09→ Class B Common Stock (1,404,458 underlying) - Conversion
Class B Common Stock
2023-02-07−1,404,458→ 12,987,333 total→ Class A Common Stock (1,404,458 underlying) - Conversion
Class A Common Stock
2023-02-07+1,404,458→ 1,404,458 total - Sale
Class A Common Stock
2023-02-07$170.00/sh−1,404,458$238,757,860→ 0 total
Holdings
- 41,000(indirect: By family member)
Class A Common Stock
- 41,000(indirect: By second family member)
Class A Common Stock
Footnotes (6)
- [F1]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.
- [F2]This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.
- [F3]As contemplated pursuant to the Form 8-K filed by the Issuer with the Securities and Exchange Commission on September 26, 2022, the block sale of 1,404,458 shares was facilitated by a large financial institution pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.
- [F4]The Reporting Person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
- [F5]The option shares are fully vested and may be exercised at any time.
- [F6]Each share of Class B Common Stock is convertible, at any time at the option of the holder, into one (1) share of Class A Common Stock and has no expiration date. In addition, each share of Class B Common Stock will convert automatically into one (1) share of Class A Common Stock upon any transfer, whether or not for value, which occurs after the closing of the IPO, except for certain permitted transfers described in, and transfers to any "permitted transferee" as defined in, the Issuer's restated certificate of incorporation. All shares of Class A and Class B Common Stock will convert automatically into shares of a single class of Common Stock upon the earliest to occur of the following: (a) upon the election by the holders of a majority of the then outstanding shares of Class B Common Stock or (b) October 15, 2023.