secwatch.observer — SEC 8-K summary
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Issuer:     VEEVA SYSTEMS INC (VEEV)
CIK:        0001393052
Form:       8-K
Filed at:   2024-06-21T23:59:59+00:00
Accession:  0001393052-24-000038
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Veeva grants CEO Gassner $172M performance option at $236.90 strike; board retains director Sekhri
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- CEO Gassner granted 2,650,000 shares at $236.90 (52-week high); prior close $178.74.
- Option vests only if VEEV closes at or above $236.90 for 60 consecutive trading days before 2030.
- Estimated grant-date fair value ~$172M; vests in five equal annual increments from Feb 2025.
- Director Paul Sekhri's resignation not accepted after failing majority vote; board cited his expertise.
- Gassner's last equity grant was 2018; he receives $450K salary and no other cash compensation since IPO.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1393052/000139305224000038/0001393052-24-000038-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1393052/000139305224000038/veev-20240619.htm
  HTML page:      https://secwatch.observer/filing/0001393052-24-000038

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer