Wallach Matthew J 4
4 · VEEVA SYSTEMS INC · Filed Mar 3, 2026
Research Summary
AI-generated summary of this filing
VEEV Director Matt Wallach Exercises and Disposes 253 Shares
What Happened Matt Wallach, a director of Veeva Systems (VEEV), reported an exercise/conversion of a derivative security (transaction code M) on 2026-03-01 that resulted in the acquisition of 253 shares at $0.00 and a simultaneous disposition of 253 shares at $0.00. The filing reports no cash value for these movements.
Key Details
- Transaction date: March 1, 2026; Form 4 filed March 3, 2026 (filed within the usual 2-business-day Section 16 window).
- Reported transactions: 253 shares acquired at $0.00 (code M) and 253 shares disposed at $0.00 (derivative).
- Shares owned after transaction: Not specified in the provided transaction summary.
- Notable footnotes:
- F1: Transaction exempt from Section 16(b) under Rule 16b-6(b).
- F2–F4: Some shares reported are held in several irrevocable trusts (Trust I, II, III); Wallach may share voting/dispositive power but disclaims beneficial ownership of trust-held shares except for any pecuniary interest.
- F5–F6: The filing references Restricted Stock Units (RSUs) (each convertible to one share) and notes a 1,013-RSU grant on June 18, 2025 with a specified vesting schedule.
Context
- Code M denotes exercise or conversion of a derivative security (for example, exercising options or converting RSUs). The filing shows an acquisition and an equal disposition of the same 253 shares at $0.00; the Form identifies the transactions but does not attach a cash value.
- F1 exemption and the trust disclosures are important: the Rule 16b-6(b) exemption means this transaction is treated as exempt from short-swing profit liability, and trust holdings may limit Wallach’s reported beneficial ownership.
Insider Transaction Report
Form 4
Wallach Matthew J
Director
Transactions
- Exercise/Conversion
Class A Common Stock
[F1]2026-03-01+253→ 106,680 total - Exercise/Conversion
Restricted Stock Units
[F5][F1][F6]2026-03-01−253→ 253 total→ Class A Common Stock (253 underlying)
Holdings
- 100,000(indirect: By Trust)
Class A Common Stock
[F2] - 100,002(indirect: By Trust)
Class A Common Stock
[F3] - 50,000(indirect: By Trust)
Class A Common Stock
[F4]
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]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.
- [F3]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.
- [F4]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.
- [F5]Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of Class A Common Stock of the Issuer.
- [F6]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.
Signature
/s/ Liang Dong, attorney-in-fact|2026-03-03