Wallach Matthew J 4

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.