Van Wagener Brian 4

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.