8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 1, 2019

Veeva Systems Inc.

(Exact name of Registrant as Specified in Its Charter)

Delaware	001-36121	20-8235463
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
4280 Hacienda Drive Pleasanton, California		94588
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code: (925) 452-6500

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company	☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.	☐

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Appointment of Principal Operating Officer

On April 1, 2019, Veeva Systems Inc. (the “Company”) announced that Tom Schwenger accepted an offer to serve as the Company’s President and Chief Operating Officer (Principal Operating Officer), effective upon his commencement of employment with the Company in September 2019.

Mr. Schwenger, age 51, will join the Company from Accenture, a global management consulting and professional services firm (previously Andersen Consulting and Arthur Andersen & Co.), where he has served since 1989. Mr. Schwenger has served in various roles at Accenture, including, most recently, as Senior Managing Director, Northeast U.S. Products Industries Client Service Group Lead since 2016 and previously as Senior Managing Director, North America Life Sciences Client Service Group Lead since 2014. Mr. Schwenger earned a Bachelor of Science degree in Quantitative Business Analysis from Penn State University.

Pursuant to his offer letter, Mr. Schwenger will have an annual salary of $325,000 and will be eligible to participate in standard Company-sponsored benefits. Further, pursuant to the Company’s equity grant recommendation, Mr. Schwenger will be eligible to receive the following equity grants after his commencement of employment, subject to approval by the board of directors of the Company, each with a vesting start date of October 1, 2019: (i) a restricted stock unit grant of 14,000 shares that will vest at a rate of 1/6^th of the shares every three months, (ii) a restricted stock unit grant of 10,000 shares that will vest at a rate of 1/4^th of the shares per year, and (iii) a stock option grant of 70,000 shares that will vest at a rate of 1/4^th of the shares per year and with an exercise price equal to the closing market price on the date of grant. The foregoing equity grants will be governed by the Company’s 2013 Equity Incentive Plan.

Mr. Schwenger will also enter into the Company’s standard form of indemnification agreement upon commencement of his employment.

There are no family relationships between Mr. Schwenger and any of the Company’s directors or executive officers and he has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S‑K.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.	Description
99.1	Press Release titled “Industry Veteran Tom Schwenger to Join Veeva as President and COO,” dated April 1, 2019.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Veeva Systems Inc.
By:	/s/ Timothy S. Cabral
	Timothy S. Cabral
	Chief Financial Officer

Dated:  April 1, 2019

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

Industry Veteran Tom Schwenger to Join Veeva as President and COO

25-year life sciences industry veteran to join September 2019

PLEASANTON, CA — April 1, 2019—Veeva Systems (NYSE:VEEV) today announced that Tom Schwenger will join the company as president and COO in September 2019 to lead strategy, sales, and services. Schwenger brings more than 25 years of life sciences industry expertise, having built high performing teams leading strategy andtechnology transformations for many of the world’s top pharmaceutical, biotech, and medical device companies.

Schwenger has dedicated the majority of his career to helping companies advance how medical treatments are discovered, developed, and delivered to patients around the world. He currently has regional responsibility for Accenture’s Northeast Products Industries Practice which includes life sciences and related industries. Previously, he led the growth of its North American Life Sciences Practice.

“I look forward to joining the exceptional Veeva team,” said Schwenger. “Veeva is uniquely positioned to help the industry bring products to market more efficiently and effectively, which is now more important than ever.”

“We are excited to welcome Tom to the Veeva leadership team. He is widely respected for all he’s done to advance life sciences throughout his career and brings an outstanding track record operating high performing organizations,” said Peter Gassner, founder and CEO of Veeva Systems. “As we look ahead to our next phase of growth, Tom’s depth of knowledge and experience will contribute to the continued success of our customers.”

About Veeva Systems

Veeva Systems Inc. is the leader in cloud-based software for the global life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 700 customers, ranging from the world's largest pharmaceutical companies to emerging biotechs. Veeva is headquartered in the San Francisco Bay Area, with offices throughout North America, Europe, Asia, and Latin America. For more information, visit veeva.com.

Additional Information

Connect with Veeva on LinkedIn: linkedin.com/company/veeva-systemsFollow @veevasystems on Twitter: twitter.com/veevasystems Like Veeva on Facebook: facebook.com/veevasystems

Forward-looking Statements

This release contains forward-looking statements, including the quotations from management and Mr. Schwenger and other statements regarding Mr. Schwenger’s appointment to president and COO. Any forward-looking statements contained in this press release are based upon Veeva’s current plans, estimates, and expectations and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent Veeva’s expectations as of the date of this press announcement. Subsequent events may cause these expectations to change, and Veeva disclaims any obligation to update the forward-looking statements in the future. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially, including unexpected events related to Mr. Schwenger’s appointment to President and COO, including the timing of such appointment.

® 2019 Veeva Systems Inc. All rights reserved. Veeva and the Veeva logo are trademarks of Veeva Systems Inc.
Veeva Systems Inc. owns other registered and unregistered trademarks.

 

Additional risks and uncertainties that could affect Veeva’s financial results are included under the captions, “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in the company’s filing on Form 10-K for the period ended January 31, 2019. This is available on the company’s website at veeva.com under the Investors section and on the SEC’s website at sec.gov. Further information on potential risks that could affect actual results will be included in other filings Veeva makes with the SEC from time to time.

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Contact:
Roger Villareal Veeva Systems 925-264-8885roger.villareal@veeva.com	Lisa Barbadora Veeva Systems 610-420-3413pr@veeva.com

® 2019 Veeva Systems Inc. All rights reserved. Veeva and the Veeva logo are trademarks of Veeva Systems Inc.
Veeva Systems Inc. owns other registered and unregistered trademarks.