Company: VEEV
Filing Date: 2025-05-05
Form Type: DEF 14A
Source: 0001140361-25-017353
Chunk: 50

Company: VEEVA SYSTEMS INC
Filing Date: 2025-05-05
Form: DEF 14A
Chunk 50
---
’s 52-week stock price high. The disclosure rules that apply to the Summary Compensation Table require that we reflect the entire grant date fair value for the 2024 CEO Options in fiscal 2025. In determining to approve or recommend, respectively, the 2024 CEO Options grant, our Board and our Compensation Committee considered the fact that, given the five-year grant cycle for Mr. Gassner, the fair value of the 2024 CEO Options might more appropriately be thought of by allocating the grant date fair value in equal portions to each of the five fiscal years that the option is intended to cover (i.e., fiscal 2026 through fiscal 2030), given that the 2024 CEO Options will be Mr. Gassner’s only equity-based compensation until at least 2030. The fair value allocated under that methodology to each year of the five-year vesting period would be approximately $34.4 million. Perquisites, Retirement, and Other Benefits. We generally do not provide perquisites or other benefits to our executive officers other than those available to employees generally. We have established a 401(k) tax-deferred savings plan, which permits participants, including our executive officers, to make contributions up to applicable annual statutory limits by salary deduction pursuant to Section 401(k) of the Internal Revenue Code of 1986, as amended (the “Code”). We are responsible for administrative costs of the 401(k) plan. We match 100% of eligible contributions by our employees, including our executive officers, up to $4,000 per year. Such matching contributions are immediately and fully vested. Severance and Change in Control Benefits. None of our NEOs is currently eligible for any severance or change in control-related benefits. In connection with Mr. Bowman’s departure from the Company, the vesting of a portion of his equity grants was accelerated, consistent with his term of service.

| Veeva Systems Inc. | 2025 Proxy Statement49 |

TABLE OF CONTENTS

Our Pay Other Compensation Information and Policies Stock Ownership Guidelines To further align the interests of our directors and executive officers with those of our shareholders, our Board adopted stock ownership guidelines. Under these guidelines, all of our executive officers are required to achieve certain stock ownership levels within three years of the later of March 19, 2019 (the date our Board adopted stock ownership guidelines) or the date of such executive officer’s hire or appointment to a position with a higher ownership requirement. The guidelines require ownership as follows:

| •