Company: VEEV
Filing Date: 2025-05-05
Form Type: DEF 14A
Source: 0001140361-25-017353
Chunk: 7

Company: VEEVA SYSTEMS INC
Filing Date: 2025-05-05
Form: DEF 14A
Chunk 7
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 independence, including the beneficial ownership of our common stock, employment arrangements at Veeva, and related party transactions. With respect to the independence of Mr. Wallach, our Board determined that Mr. Wallach is an independent director under NYSE listing standards. In making this determination, the Board first confirmed that Mr. Wallach would be eligible to be deemed independent and met the objective criteria. The Board also broadly considered all relevant factors and circumstances. One of the factors considered was that Mr. Wallach has not been employed by Veeva since June 2019, and between June 2019 and his election as a director on January 1, 2020, Mr. Wallach was not involved with the business or operations of Veeva. Given the passage of time, pursuant to NYSE listing standards, Mr. Wallach satisfies the independence requirement and he is not precluded from being independent. The Board further noted Mr. Wallach’s co-founder label is honorific and he does not have close social, financial, or business ties with current Veeva management. Taking all factors into account, including Mr. Wallach’s conduct as a director to date, our Board determined that Mr. Wallach does not have a material relationship with Veeva under NYSE rules, and that Mr. Wallach’s prior employment with Veeva and co-founder label have not and will not interfere with his exercise of independent judgment in carrying out his responsibilities as a director due to, among other factors, the length of time that has passed since his employment with Veeva. The Board was permitted to, and did affirmatively determine, that Mr. Wallach is independent within the meaning of the NYSE listing requirements. The charters of our Audit Committee, Compensation Committee, and Nominating and Governance Committee limit membership to independent directors. In addition, the independent members of our Board and Board committees regularly hold separate executive sessions at Board or Board committee meetings where only independent directors are present, as required by our Corporate Governance Guidelines. Considerations in Evaluating Director Nominees Our Nominating and Governance Committee reviews on at least an annual basis, the composition of the Board, including character, judgment, diversity, independence, expertise, corporate experience, length of service, and other commitments. Our Nominating and Governance Committee considers all aspects of each candidate’s qualifications and skills in the context of the needs of Veeva with a view toward creating a Board with a broad range of thought, experience, expertise, and perspectives, including