Wallach Matthew J 4
4 · VEEVA SYSTEMS INC · Filed Jun 3, 2026
Research Summary
AI-generated summary of this filing
VEEV Director Matt Wallach Converts 253 RSUs to Shares
What Happened
- Matt Wallach, a director of Veeva Systems (VEEV), reported conversion/exercise of 253 derivative shares on June 1, 2026. The filing shows 253 shares acquired at $0.00 and 253 shares disposed at $0.00 on the same date. There is no cash proceeds reported to the reporting person.
Key Details
- Transaction date: 2026-06-01; Form 4 filed: 2026-06-03 (appears timely).
- Reported amounts: 253 shares acquired @ $0.00; 253 shares disposed @ $0.00.
- Shares owned after transaction: Not specified in the filing.
- Footnotes of note:
- F1: Transaction exempt under Rule 16b-6(b) (Section 16(b) exemption).
- F2–F4: Reported shares are held by several irrevocable trusts (Trust I, Trust II, Trust III); Wallach may share voting/dispositive power and disclaims beneficial ownership except for any pecuniary interest.
- F5: RSUs convert 1:1 into Class A common stock.
- F6: The RSUs relate to a June 18, 2025 grant of 1,013 RSUs with scheduled vesting beginning Sept 1, 2025.
- Transaction code: M (exercise or conversion of derivative).
Context
- For retail investors: this appears to be a routine conversion/settlement of equity awards (RSUs/derivative) with the resulting shares moved to trusts named in the filing. The $0.00 price indicates no cash purchase or sale proceeds to the insider — not an open-market sale. Such transfers to trusts or estate planning vehicles are common for directors and do not necessarily indicate a bullish or bearish market view.
Insider Transaction Report
Form 4
Wallach Matthew J
Director
Transactions
- Exercise/Conversion
Class A Common Stock
[F1]2026-06-01+253→ 106,933 total - Exercise/Conversion
Restricted Stock Units
[F5][F1][F6]2026-06-01−253→ 0 total→ Class A Common Stock (253 underlying)
Holdings
- 100,000(indirect: By Trust)
Class A Common Stock
[F2] - 100,002(indirect: By Trust)
Class A Common Stock
[F3] - 50,000(indirect: By Trust)
Class A Common Stock
[F4]
Footnotes (6)
- [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]Shares held by Matt Wallach 2012 Irrevocable Trust dated October 15, 2012 ("Trust I"). The Reporting Person may be deemed to share voting and dispositive power with regard to the reported shares held by Trust I. The Reporting Person disclaims beneficial ownership of the reported shares held by Trust I, except to the extent, if any, of his pecuniary interest therein.
- [F3]Shares held by Matt Wallach 2013 Irrevocable Trust dated August 13, 2013 ("Trust II"). The Reporting Person may be deemed to share voting and dispositive power with regard to the reported shares held by Trust II. The Reporting Person disclaims beneficial ownership of the reported shares held by Trust II, except to the extent, if any, of his pecuniary interest therein.
- [F4]Shares held by Matt Wallach 2012 Irrevocable Non-Grantor Trust dated October 15, 2012 ("Trust III"). The Reporting Person may be deemed to share voting and dispositive power with regard to the reported shares held by Trust III. The Reporting Person disclaims beneficial ownership of the reported shares held by Trust III, except to the extent, if any, of his pecuniary interest therein.
- [F5]Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of Class A Common Stock of the Issuer.
- [F6]On June 18, 2025, the Reporting Person was granted 1,013 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.
Signature
/s/ Liang Dong, attorney-in-fact|2026-06-03