Veeva (VEEV) Director Hedley Mary Lynne Converts 477 RSUs

What Happened Hedley Mary Lynne, a director of Veeva Systems (VEEV), had 477 restricted stock units (RSUs) vest on September 1, 2026. The Form 4 shows a conversion/exercise of a derivative (code M) resulting in 477 shares acquired at $0.00 and a simultaneous disposition of 477 shares at $0.00. No cash value is reported for these transactions.

Key Details

• Transaction date: September 1, 2026; Form filed September 3, 2026 (timely).
• Actions reported: 477 shares acquired (conversion/exercise of derivative, code M) and 477 shares disposed (derivative) — both at $0.00.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes:
  • F1: Transaction exempt from Section 16(b) under Rule 16b-6(b).
  • F2: Each RSU represents a contingent right to one share of Class A common stock.
  • F3: Reporting person was granted 1,906 RSUs on June 17, 2026; 1/4 (477) vested on Sept 1, 2026, with the remainder vesting quarterly thereafter subject to continued board service.
• No 10b5-1 plan or tax-withholding method is specified in the filing excerpt.

Context This appears to be a routine RSU vesting and conversion into shares rather than an open-market purchase or sale. The simultaneous acquisition and disposition shown in the Form 4 often reflects conversion and immediate settlement/transfer tied to vesting mechanics (the filing does not state the reason). The events are exempt from short-swing profit rules under Rule 16b-6(b).