Faddis Jonathan 4

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.