Wallach Matthew J 4

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.