Van Wagener Brian 4
4 · VEEVA SYSTEMS INC · Filed Jul 6, 2026
Research Summary
AI-generated summary of this filing
Veeva Systems CFO Brian Van Wagener Exercises RSUs; Shares Withheld
What Happened
Brian Van Wagener, Chief Financial Officer of Veeva Systems (VEEV), had 1,635 restricted stock units (RSUs convert/derivative exercise) vest and convert into 1,635 shares on July 1, 2026. Of those shares, 693 were withheld by the issuer to satisfy tax withholding obligations, valued at $184.22 per share for a total tax withholding of $127,664. The net shares delivered to Van Wagener were 942 (1,635 vested − 693 withheld).
Key Details
- Transaction date: July 1, 2026; Form 4 filed July 6, 2026. No late filing is indicated in the provided data.
- Activity: Conversion/exercise of RSUs (code M) producing 1,635 shares; withholding of 693 shares for tax obligations (code F).
- Withholding price/value: 693 shares × $184.22 = $127,664 withheld to cover taxes.
- Net new shares received: 942 shares.
- Footnotes: RSUs equal rights to one share (F2). The withholding was done by the issuer to satisfy tax obligations and is not a market sale (F3). RSUs granted under the 2013 Equity Incentive Plan with a 1-year vesting schedule (1/4 vested July 1, 2026, then quarterly) (F4). Certain transactions are noted as exempt from Section 16(b) per Rule 16b-6(b) (F1).
- Shares owned after the transaction: not specified in the provided filing excerpt.
Context
This was a routine vesting and net-settlement of RSUs, not an open-market sale. The issuer withheld shares to satisfy tax withholding rather than the insider selling shares on the market; such withholding is common and generally considered administrative rather than a signal about CEO/CFO sentiment.
Insider Transaction Report
- Exercise/Conversion
Class A Common Stock
[F1][F2]2026-07-01+1,635→ 10,018 total - Tax Payment
Class A Common Stock
[F3]2026-07-01$184.22/sh−693$127,664→ 9,325 total - Exercise/Conversion
Restricted Stock Units
[F2][F1][F4]2026-07-01−1,635→ 4,906 total→ Class A Common Stock (1,635 underlying)
Footnotes (4)
- [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]Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of Class A Common Stock of the Issuer.
- [F3]Represents shares that have been withheld by the Issuer to satisfy tax withholding and remittance obligations in connection with the net settlement of vested restricted stock units and not a market transaction. Transaction exempt from Section 16(b) of the Act pursuant to Rule 16b-3(e) promulgated under the Act.
- [F4]The RSUs were granted under the Issuer's Amended & Restated 2013 Equity Incentive Plan (the "Plan"). The Reporting Person vests ownership in the RSUs over 1-year with 1/4 of the RSUs vesting on July 1, 2026, and 1/4 of the RSUs vesting on a quarterly basis thereafter, subject to continued service to the Issuer by the Reporting Person.