Faddis Jonathan 4
4 · VEEVA SYSTEMS INC · Filed Apr 3, 2026
Research Summary
AI-generated summary of this filing
Veeva (VEEV) SVP Jonathan Faddis Vests RSUs; Shares Withheld for Taxes
What Happened
Jonathan Faddis, SVP, General Counsel and Secretary of Veeva Systems (VEEV), had restricted stock units (RSUs) convert to 8,726 shares on April 1, 2026. The conversion is reported as an exercise/conversion of a derivative at $0.00 per share (RSU vesting). To satisfy tax withholding on the vesting, 3,810 shares were withheld by the issuer at $172.74 per share, representing $658,140. After withholding, 4,916 shares remained attributable to the reporting person.
Key Details
- Transaction date: April 1, 2026. Filing date: April 3, 2026 (timely).
- Conversion/acquisitions: 7,500 shares and 1,226 shares reported as acquired at $0.00 (RSU conversion).
- Withholding/disposals: 3,370 shares and 440 shares withheld/disposed at $172.74 each = $582,134 and $76,006 respectively; total withheld value $658,140.
- Net shares delivered from vesting: 8,726 vested − 3,810 withheld = 4,916 net shares.
- Shares owned after transaction: not specified in the filing.
- Footnotes of note:
- F2/F4/F5: These were RSUs granted under the Company’s equity plan; some RSUs vested 100% on April 1, 2026 and others follow a multi-step vesting schedule.
- F3: The withheld shares were retained by the issuer to satisfy tax withholding (not an open-market sale).
- F1: Certain transactions are reported as exempt under Rule 16b-6(b) (Section 16(b) exemptions noted).
- Transaction codes in the filing: M = exercise/conversion of derivative (RSU conversion), F = shares withheld to satisfy tax withholding.
Context
- This was a routine compensation/vesting event (RSU conversion with issuer withholding for taxes), not a discretionary open-market sale or purchase. Such withholding is common and generally reflects tax remittance rather than an insider selling stock for liquidity or portfolio reasons.
- No 10b5-1 plan, gift, or market sale was reported; the filing indicates standard plan-based vesting and issuer withholding.
Insider Transaction Report
Form 4
Faddis Jonathan
SVP, Gen. Counsel, Secretary
Transactions
- Exercise/Conversion
Class A Common Stock
[F1][F2]2026-04-01+7,500→ 11,109 total - Tax Payment
Class A Common Stock
[F3]2026-04-01$172.74/sh−3,370$582,134→ 7,739 total - Exercise/Conversion
Class A Common Stock
[F1][F2]2026-04-01+1,226→ 8,965 total - Tax Payment
Class A Common Stock
[F3]2026-04-01$172.74/sh−440$76,006→ 8,525 total - Exercise/Conversion
Restricted Stock Units
[F2][F1][F4]2026-04-01−7,500→ 0 total→ Class A Common Stock (7,500 underlying) - Exercise/Conversion
Restricted Stock Units
[F2][F1][F5]2026-04-01−1,226→ 0 total→ Class A Common Stock (1,226 underlying)
Footnotes (5)
- [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]Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of Class A Common Stock of the Issuer.
- [F3]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.
- [F4]The RSUs were granted under the Issuer's Amended & Restated 2013 Equity Incentive Plan (the "Plan"). The Reporting Person vests 100% ownership in the RSUs on April 1, 2026, subject to continued service to the Issuer by the Reporting Person
- [F5]The RSUs were granted under the Plan. The Reporting Person vests ownership in the RSUs over one year with 25% vesting on July 1, 2025, and 25% of the RSUs vesting on a quarterly basis thereafter, subject to continued service to the Issuer by the Reporting Person.
Signature
/s/ Liang Dong, attorney-in-fact|2026-04-03