Carges Mark T 4
4 · VEEVA SYSTEMS INC · Filed Jun 3, 2026
Research Summary
AI-generated summary of this filing
Veeva (VEEV) Director Mark Carges Exercises/Transfers 271 Shares
What Happened
Mark T. Carges, a director of Veeva Systems (VEEV), reported the exercise/conversion of 271 derivative units into 271 shares of Class A common stock on June 1, 2026. The shares were recorded at $0.00 per share (no cash paid) and 271 shares were immediately transferred to the Mark Carges Revocable Trust dated 1/30/19. The transaction was filed on June 3, 2026.
Key Details
- Transaction date: June 1, 2026; filing date: June 3, 2026 (appears timely).
- Transaction type/code: Exercise or conversion of derivative (Code M); reported as both acquired and disposed (transfer to trust).
- Shares involved: 271 shares acquired at $0.00 and 271 shares disposed/transferred at $0.00.
- Footnotes:
- F1: Transaction exempt from Section 16(b) under Rule 16b-6(b).
- F2/F3: The 271 shares were transferred to the Mark Carges Revocable Trust; Mr. Carges is trustee and beneficiary and may share voting/dispositive power.
- F4: Each RSU represents a contingent right to one share.
- F5: Mr. Carges received 1,084 RSUs on June 18, 2025 with a multi-period vesting schedule (some vested earlier; remaining vest quarterly subject to board service).
Context
This was not an open-market purchase or sale for cash—rather a conversion/settlement of derivative awards (RSUs) into common stock and a transfer to a personal revocable trust. Such transfers/gifts or trust transfers are often routine estate/planning or administrative actions and do not necessarily reflect a change in sentiment about the company.
Insider Transaction Report
- Exercise/Conversion
Class A Common Stock
[F1]2026-06-01+271→ 271 total - Exercise/Conversion
Restricted Stock Units
[F4][F1][F5]2026-06-01−271→ 0 total→ Class A Common Stock (271 underlying)
- 12,682(indirect: By Trust)
Class A Common Stock
[F2][F3]
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]The number of shares beneficially owned reflects the transfer of 271 shares of Class A Common Stock from the Reporting Person to the Mark Carges Revocable Trust dtd 1/30/19 (the "Trust"). The Reporting Person is a trustee and beneficiary of the Trust, and may be deemed to share voting and dispositive power with regard to the reported shares held by the Trust.
- [F3]Shares held by the Mark Carges Revocable Trust dtd 1/30/19 (the "Trust"). The Reporting Person is a trustee and beneficiary of the Trust, and may be deemed to share voting and dispositive power with regard to the reported shares held by the Trust.
- [F4]Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of Class A Common Stock of the Issuer.
- [F5]On June 18, 2025, the Reporting Person was granted 1,084 RSUs under the Issuer's Amended & Restated 2013 Equity Incentive Plan, of which 1/4 of the RSUs vested on September 1, 2025, with the remaining RSUs vesting equally on a quarterly basis thereafter, subject to continued service on the Issuer's board of directors on the applicable vesting date.