Carges Mark T 4

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.