Zuppas Eleni Nitsa 4

What Happened

• Eleni Nitsa Zuppas, President & Chief of Staff of Veeva Systems (VEEV), had RSUs vest on April 1, 2026. A total of 8,998 RSUs converted to shares (7,500 + 1,498). To satisfy tax withholding obligations, 4,002 shares were withheld at $172.74/share (total withheld ≈ $691,305), resulting in a net issuance of 4,996 shares to Zuppas. These were not open-market sales but a net settlement of vested awards.

Key Details

• Transaction date: April 1, 2026; Form 4 filed April 3, 2026 (no late filing indicated).
• RSUs converted: 7,500 and 1,498 (total 8,998) — conversion recorded as derivative exercises (code M).
• Shares withheld for taxes: 3,464 and 538 (total 4,002) at $172.74/share; total value withheld = $598,371 + $92,934 = $691,305 (codes F; tax withholding).
• Net shares received by insider: 8,998 − 4,002 = 4,996 shares.
• Shares owned after the transaction: not specified in the provided excerpt of the filing.
• Footnotes: RSUs represent contingent rights to one share each (F2); withholding was a net settlement (not a market sale) and exempt under Rule 16b-3(e) (F3); grants governed by the company’s 2013 Equity Incentive Plan with vesting details noted (F4, F5). Transaction exempt from Section 16(b) per Rule 16b-6(b) (F1).

Context

• This was a routine equity award vesting and net-settlement for tax withholding (common for RSU vesting). The derivative code (M) indicates conversion/exercise of a derivative (RSU → share); the F-code disposals reflect shares withheld to cover taxes, not discretionary share sales. No 10b5-1 plan or gift was reported in the provided notes.