Van Wagener Brian 4

What Happened

• Brian Van Wagener, CFO of Veeva Systems, had 872 restricted stock units (RSUs) convert into 872 shares on April 1, 2026 (recorded as exercise/conversion of a derivative). There was no cash exercise price ($0.00) for the conversion. To cover tax withholding obligations, 370 shares were surrendered/withheld at an implied price of $172.74 per share, totaling about $63,914. The filing shows the conversion and the tax-withholding (net settlement) rather than an open-market sale.

Key Details

• Transaction date: 2026-04-01; filing date (accession): 2026-04-03 (appears timely).
• Conversion: 872 RSUs converted to 872 shares (price reported $0.00 for conversion).
• Tax withholding: 370 shares withheld @ $172.74 = $63,914 (not an open-market sale; withheld by issuer).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes of note:
  • RSUs = contingent right to one share (footnote F2).
  • Withholding of shares to cover taxes; treated as net settlement and exempt from Section 16(b) (F3).
  • RSUs granted under the company’s equity plan with a stated vesting schedule (F4).
  • Some entries exempt under Rule 16b-6(b) (F1).
• Transaction codes: M = exercise/conversion of derivative; F = payment of exercise price or tax liability (share withholding).

Context

• This was a vesting/conversion of equity awards (RSUs) with shares withheld to satisfy tax obligations — a common administrative action that does not necessarily indicate a decision to sell stock in the market. The filing shows net settlement rather than an open-market sale of the withheld shares.