Faddis Jonathan 4

What Happened

Jonathan Faddis, Senior Vice President, General Counsel and Secretary of Veeva Systems (VEEV), had 1,635 restricted stock units (RSUs) convert to shares on July 1, 2026 (code M). To satisfy tax-withholding obligations, the issuer withheld 832 of those shares at an indicated per-share value of $184.22, totaling $153,271 (code F). The net result: Faddis received 803 shares (1,635 − 832) as a result of the vesting/conversion. This was an award/vesting event rather than an open-market purchase or voluntary sale.

Key Details

• Transaction date: July 1, 2026. Filing date: July 6, 2026 (timely filed; July 3 was the observed holiday).
• Converted/vested: 1,635 RSUs → 1,635 shares (code M, $0 exercise price).
• Tax withholding: 832 shares withheld at $184.22/share = $153,271 (code F); this was a net settlement by the issuer, not a market sale.
• Net shares delivered to insider: 803 shares.
• Footnotes: RSUs represent a contingent right to one share (F2); withholding is issuer net-settlement and exempt under Rule 16b-3(e) (F3); conversion/transaction exempt under Rule 16b-6(b) (F1); RSUs granted under the 2013 Equity Incentive Plan with vesting schedule described (F4 — 1/4 vested July 1, 2026, then quarterly).
• Shares owned after transaction: not specified in the provided filing excerpt.

Context

• This was a routine equity award/vesting event (RSU conversion with net-share withholding for taxes). The withholding is administrative/tax-related and does not indicate an open-market sale of shares by the insider.
• Transaction codes: M = exercise/conversion of derivative (here, RSU conversion); F = payment of exercise price or tax liability (here, share withholding for taxes).