Peter P. Gassner - Feb 7, 2023 Form 4 Insider Report for VEEVA SYSTEMS INC (VEEV)

Role: Chief Executive Officer, Director
Signature: /s/ Jonathan Faddis, attorney-in-fact
Stock symbol: VEEV
Transactions as of: Feb 7, 2023
Transactions value $: -$238,757,860
Form type: 4
Date filed: 2/8/2023, 07:26 PM
Previous filing: Jan 11, 2023
Next filing: Mar 21, 2023

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	+1.4M		$0.00	1.4M	Feb 7, 2023	Direct	F1, F2
transaction	VEEV	Class A Common Stock	Sale	-$239M	-1.4M	-100%	$170.00	0	Feb 7, 2023	Direct	F2, F3
holding	VEEV	Class A Common Stock						41K	Feb 7, 2023	By family member	F4
holding	VEEV	Class A Common Stock						41K	Feb 7, 2023	By second family member	F4

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	Stock Option (right to buy)	Options Exercise	$0	-1.4M	-100%	$0.00^*	0	Feb 7, 2023	Class B Common Stock	1.4M	$3.92	Direct	F1, F2, F5
transaction	VEEV	Class B Common Stock	Options Exercise	$0	+1.4M	+10.81%	$0.00	14.4M	Feb 7, 2023	Class A Common Stock	1.4M	$3.92	Direct	F1, F2, F6
transaction	VEEV	Class B Common Stock	Conversion of derivative security	$0	-1.4M	-9.76%	$0.00	13M	Feb 7, 2023	Class A Common Stock	1.4M		Direct	F1, F2, F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

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 a Rule 10b5-1 trading plan adopted by the Reporting Person.
F3	As contemplated pursuant to the Form 8-K filed by the Issuer with the Securities and Exchange Commission on September 26, 2022, the block sale of 1,404,458 shares was facilitated by a large financial institution pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.
F4	The Reporting Person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
F5	The option shares are fully vested and may be exercised at any time.
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, which occurs after the closing of the IPO, except for certain permitted transfers described in, and transfers to any "permitted transferee" as defined in, the Issuer's 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.