Hedley Mary Lynne 4

What Happened

• Mary Lynne Hedley, a director of Veeva Systems Inc. (VEEV), reported the conversion/exercise of a derivative on June 1, 2026. The filing shows 262 shares were acquired via conversion (code M) at $0.00 and a corresponding disposition of 262 derivative units also reported at $0.00. The $0.00 price indicates this was a conversion/vesting event (not a cash purchase).

Key Details

• Transaction date: 2026-06-01 (reported on Form 4 filed 2026-06-03).
• Activity: Exercise/conversion of derivative (code M) — 262 shares acquired @ $0.00; 262 shares disposed @ $0.00 (derivative).
• Shares owned after the transaction: not specified in the provided excerpt.
• Footnotes:
  • F1: Transaction exempt from Section 16(b) under Rule 16b-6(b).
  • F2: Each RSU equals a contingent right to one share of Class A common stock.
  • F3: These RSUs came from a June 18, 2025 grant of 1,049 RSUs (1/4 vested Sept 1, 2025; remaining vest quarterly thereafter), which explains the 262-unit vesting increment.
• Filing timeliness: Filed two days after the transaction date (appears timely under the usual two-business-day Section 16 reporting rule).

Context

• Code M indicates an exercise or conversion of a derivative (here, RSUs converting into shares). A $0.00 price typically reflects vesting/conversion rather than a cash purchase.
• The reported matching disposition at $0.00 may reflect internal conversion mechanics (e.g., surrender/settlement of derivative units) as part of the vesting/conversion process; the filing does not show a cash sale or sale proceeds.