Veeva Systems General Counsel Sells $1.56M in Class A Common Stock Under 10b5-1 Plan

Executive Summary

On October 16, 2026, Veeva Systems Inc ($VEEV) filed a Form 4 disclosing insider stock sales by Jonathan Faddis, SVP, General Counsel, and Secretary. On October 14, 2026, Mr. Faddis executed three open-market sales totaling 5,198 shares of Class A Common Stock for aggregate gross proceeds of approximately $1.56 million.

Transaction Details

The transactions occurred across three weighted average price tranches:

• 3,515 shares sold at a weighted average price of $300.1393 (range: $299.9700–$300.1400)
• 975 shares sold at a weighted average price of $299.2928 (range: $298.8250–$299.7500)
• 708 shares sold at a weighted average price of $298.1925 (range: $297.8200–$298.6600)

Following these dispositions, Mr. Faddis's direct ownership decreased from 9,328 shares to 4,130 shares, representing a reduction of approximately 55.7% of his direct holdings.

Context & Significance

• Rule 10b5-1 Pre-arranged Plan: The sales were conducted pursuant to a Rule 10b5-1 trading plan established on July 15, 2026, satisfying the required cooling-off period before execution.
• Significance Level: Medium. While the insider divested over half of their directly held common shares amounting to $1.56M, the use of a pre-established Rule 10b5-1 plan significantly reduces the likelihood that the transaction reflects an opportunistic timing decision based on non-public information.