Company: VEEV
Filing Date: 2025-11-21
Form Type: 10-Q
Source: 0001393052-25-000078
Chunk: 150

Company: VEEVA SYSTEMS INC
Filing Date: 2025-11-21
Form: 10-Q
Item: Part I, Item 1
Chunk 150
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453 202714,301 202817,512 202913,629 203012,737 Thereafter51,602 Total lease payments110,234 Less imputed interest(20,438)Total lease liabilities$89,796 

Note 9. Stockholders’ Equity 

Common StockAs of October 31, 2025, we had 164,342,871 shares of common stock outstanding.

Stock Option Activity

 A summary of stock option activity for the nine months ended October 31, 2025 is as follows: 

Numberof sharesWeightedaverageexercisepriceWeightedaverageremainingcontractualterm (in years)Aggregateintrinsicvalue (in millions)Options outstanding at January 31, 202514,633,921 $177.65 6.8$860 Options granted2,210,273 $216.02 Options exercised(1,297,259)$185.01 Options forfeited/cancelled(274,704)$210.00 Options outstanding at October 31, 202515,272,231 $182.00 6.5$1,669 Options vested and exercisable at October 31, 20256,598,881 $137.04 4.2$1,019 Options vested and exercisable at October 31, 2025 and expected to vest thereafter15,272,231 $182.00 6.5$1,669 The options granted during the nine months ended October 31, 2025 were primarily made in connection with our annual performance review cycle. The weighted average grant-date fair value of options granted was $126.62 and $97.72 per option for the three and nine months ended October 31, 2025, respectively.As of October 31, 2025, there was $481 million in unrecognized compensation cost related to unvested stock options granted under the 2013 Equity Incentive Plan. This cost is expected to be recognized over a weighted average period of 2.2 years.

The total intrinsic value of options exercised was approximately $34 million and $114 million for the three and nine months ended October 31, 2025, respectively.

14Veeva Systems Inc. | Form 10-Q

Table of Contents

Stock Option Valuation AssumptionsThe following table presents the weighted-average assumptions used to estimate the grant date fair value of options granted during