Veeva Systems Inc. (NYSE:VEEV) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
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.
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, 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 1/6th of the shares every three months, (ii) a restricted stock unit grant of 10,000 shares that will vest at a rate of 1/4th of the shares per year, and (iii) a stock option grant of 70,000 shares that will vest at a rate of 1/4th 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 to Item 404(a) of RegulationS‑K.
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Item 9.01. |
Financial Statements and Exhibits. |
(d) Exhibits.
VEEVA SYSTEMS INC Exhibit
EX-99.1 2 veev-ex991_6.htm EX-99.1 veev-ex991_6.htm 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,…
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About Veeva Systems Inc. (NYSE:VEEV)
Veeva Systems Inc. (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data. The Company offers solutions to areas, including the Veeva CRM family of applications for multichannel customer relationship management to enable coordinated and personalized customer engagement through multiple touch points; Veeva Vault for regulated content management and information management solutions to enable the management of content-centric processes; the Veeva Network master data management solutions for the management of customer master and product master data, and Veeva’s data and data services offerings, including Veeva OpenData for customer reference data and Veeva KOL Data for data.
