Matthew J. Wallach - 18 Sep 2023 Form 4 Insider Report for VEEVA SYSTEMS INC (VEEV)

Role
Director
Signature
/s/ Liang Dong, attorney-in-fact
Issuer symbol
VEEV
Transactions as of
18 Sep 2023
Transactions value $
-$1,045,330
Form type
4
Filing time
20 Sep 2023, 17:07:58 UTC
Previous filing
05 Sep 2023
Next filing
06 Oct 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VEEV Class A Common Stock Conversion of derivative security $0 +30K +803.21% $0.00 33.7K 18 Sep 2023 Direct F1
transaction VEEV Class A Common Stock Sale -$499K -2.4K -7.1% $208.34 31.3K 18 Sep 2023 Direct F2, F3
transaction VEEV Class A Common Stock Sale -$470K -2.24K -7.15% $209.61 29.1K 18 Sep 2023 Direct F2, F4
transaction VEEV Class A Common Stock Sale -$55.3K -263 -0.9% $210.16 28.8K 18 Sep 2023 Direct F2, F5
transaction VEEV Class A Common Stock Sale -$21.1K -100 -0.35% $211.24 28.7K 18 Sep 2023 Direct F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction VEEV Class B Common Stock Conversion of derivative security $0 -30K -23.08% $0.00 100K 18 Sep 2023 Class A Common Stock 30K Direct F1, F6, F7
holding VEEV Class B Common Stock 100K 18 Sep 2023 Class A Common Stock 100K $0.00 By Matt Wallach 2012 Irrevocable Trust dated October 15, 2012 F6
holding VEEV Class B Common Stock 50K 18 Sep 2023 Class A Common Stock 50K $0.00 By Matt Wallach 2012 Irrevocable Non-Grantor Trust dated October 15, 2012 F6
holding VEEV Class B Common Stock 100K 18 Sep 2023 Class A Common Stock 100K $0.00 By Matt Wallach 2013 Irrevocable Trust dated August 13, 2013 F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
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 This transaction was effected pursuant to Rule 10b5-1 trading plans adopted by the Reporting Person on June 13, 2023.
F3 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $208.0200 to $209.0050 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F4 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $209.0200 to $210.0100 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F5 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $210.0400 to $210.2100 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F6 Each share of Class B Common Stock is convertible, at any time at the option of the holder, into one (1) share of Class A Common Stock and has no expiration date. In addition, each share of Class B Common Stock will convert automatically into one (1) share of Class A Common Stock upon any transfer, whether or not for value, except for certain permitted transfers described in, and transfers to any "permitted transferee" as defined in, the Issuer's amended and restated certificate of incorporation. All shares of Class A and Class B Common Stock will convert automatically into shares of a single class of Common Stock upon the earliest to occur of the following: (a) upon the election by the holders of a majority of the then outstanding shares of Class B Common Stock or (b) October 15, 2023.
F7 Represents 100,000 shares of Class B Common Stock held by the Reporting Person and Cristina Wallach as joint tenants with right of survivorship.