SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Gassner Peter P

(Last)

(First)

(Middle)

C/O VEEVA SYSTEMS INC.

4280 HACIENDA DRIVE

(Street)

PLEASANTON

94588

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
VEEVA SYSTEMS INC [ VEEV ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
01/04/2023

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	01/04/2023⁽¹⁾		C⁽²⁾		41,494	A	$0	41,494	D
Class A Common Stock	01/04/2023		S⁽²⁾		3,717	D	$163.2916⁽³⁾	37,777	D
Class A Common Stock	01/04/2023		S⁽²⁾		4,697	D	$164.6627⁽⁴⁾	33,080	D
Class A Common Stock	01/04/2023		S⁽²⁾		25,441	D	$165.4143⁽⁵⁾	7,639	D
Class A Common Stock	01/04/2023		S⁽²⁾		7,639	D	$166.1357⁽⁶⁾	0	D
Class A Common Stock	01/05/2023⁽¹⁾		C⁽²⁾		24,000	A	$0	24,000	D
Class A Common Stock	01/05/2023		S⁽²⁾		14,663	D	$161.0157⁽⁷⁾	9,337	D
Class A Common Stock	01/05/2023		S⁽²⁾		8,837	D	$162.0743⁽⁸⁾	500	D
Class A Common Stock	01/05/2023		S⁽²⁾		500	D	$162.613⁽⁹⁾	0	D
Class A Common Stock	01/06/2023⁽¹⁾		C⁽²⁾		23,730	A	$0	23,730	D
Class A Common Stock	01/06/2023		S⁽²⁾		2,420	D	$157.5604⁽¹⁰⁾	21,310	D
Class A Common Stock	01/06/2023		S⁽²⁾		998	D	$158.4279⁽¹¹⁾	20,312	D
Class A Common Stock	01/06/2023		S⁽²⁾		8,889	D	$159.7425⁽¹²⁾	11,423	D
Class A Common Stock	01/06/2023		S⁽²⁾		8,116	D	$160.6481⁽¹³⁾	3,307	D
Class A Common Stock	01/06/2023		S⁽²⁾		3,307	D	$161.3989⁽¹⁴⁾	0	D
Class A Common Stock								41,000⁽¹⁵⁾	I	By family member
Class A Common Stock								41,000⁽¹⁵⁾	I	By second family member

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (right to buy)	$3.92	01/04/2023⁽¹⁾		M⁽²⁾			41,494	⁽¹⁶⁾	03/09/2023	Class B Common Stock	41,494	$0	2,800,000	D
Class B Common Stock	$3.92	01/04/2023⁽¹⁾		M⁽²⁾		41,494		⁽¹⁷⁾	⁽¹⁷⁾	Class A Common Stock	41,494	$0	13,028,827	D
Class B Common Stock	⁽¹⁷⁾	01/04/2023⁽¹⁾		C⁽²⁾			41,494	⁽¹⁷⁾	⁽¹⁷⁾	Class A Common Stock	41,494	$0	12,987,333	D
Stock Option (right to buy)	$3.92	01/05/2023⁽¹⁾		M⁽²⁾			24,000	⁽¹⁶⁾	03/09/2023	Class B Common Stock	24,000	$0	2,776,000	D
Class B Common Stock	$3.92	01/05/2023⁽¹⁾		M⁽²⁾		24,000		⁽¹⁷⁾	⁽¹⁷⁾	Class A Common Stock	24,000	$0	13,011,333	D
Class B Common Stock	⁽¹⁷⁾	01/05/2023⁽¹⁾		C⁽²⁾			24,000	⁽¹⁷⁾	⁽¹⁷⁾	Class A Common Stock	24,000	$0	12,987,333	D
Stock Option (right to buy)	$3.92	01/06/2023⁽¹⁾		M⁽²⁾			23,730	⁽¹⁶⁾	03/09/2023	Class B Common Stock	23,730	$0	2,752,270	D
Class B Common Stock	$3.92	01/06/2023⁽¹⁾		M⁽²⁾		23,730		⁽¹⁷⁾	⁽¹⁷⁾	Class A Common Stock	23,730	$0	13,011,063	D
Class B Common Stock	⁽¹⁷⁾	01/06/2023⁽¹⁾		C⁽²⁾			23,730	⁽¹⁷⁾	⁽¹⁷⁾	Class A Common Stock	23,730	$0	12,987,333	D

Explanation of Responses:

1. 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.

2. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.

3. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $162.905 to $163.85 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.

4. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $163.95 to $164.94 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.

5. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $164.95 to $165.945 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.

6. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $165.95 to $166.42 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.

7. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $160.54 to $161.53 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.

8. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $161.545 to $162.54 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.

9. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $162.545 to $162.66 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.

10. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $157.085 to $158.05 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.

11. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $158.095 to $159.03 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.

12. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $159.21 to $160.19 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.

13. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $160.21 to $161.195 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.

14. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $161.22 to $161.63 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.

15. 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.

16. The option shares are fully vested and may be exercised at any time.

17. 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.

Remarks:

	/s/ Jonathan Faddis, attorney-in-fact	01/06/2023
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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