<SEC-DOCUMENT>0001393052-24-000028.txt : 20240604
<SEC-HEADER>0001393052-24-000028.hdr.sgml : 20240604
<ACCEPTANCE-DATETIME>20240603190309
ACCESSION NUMBER:		0001393052-24-000028
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240604
DATE AS OF CHANGE:		20240603

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VEEVA SYSTEMS INC
		CENTRAL INDEX KEY:			0001393052
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		ORGANIZATION NAME:           	06 Technology
		IRS NUMBER:				208235463
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36121
		FILM NUMBER:		241015567

	BUSINESS ADDRESS:	
		STREET 1:		4280 HACIENDA DRIVE
		CITY:			PLEASANTON
		STATE:			CA
		ZIP:			94588
		BUSINESS PHONE:		925-452-6500

	MAIL ADDRESS:	
		STREET 1:		4280 HACIENDA DRIVE
		CITY:			PLEASANTON
		STATE:			CA
		ZIP:			94588

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VERTICALS ONDEMAND INC
		DATE OF NAME CHANGE:	20070313
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>veev-2024defa14aadditional.htm
<DESCRIPTION>DEFA14A
<TEXT>
<html><head>
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<title>Document</title></head><body><div id="ie414982298424d12b58756371c107e91_47"></div><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #000000;border-top:2pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="margin-top:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:16pt;font-weight:700;line-height:100%">UNITED STATES </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:16pt;font-weight:700;line-height:100%">SECURITIES AND EXCHANGE COMMISSION</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%"> </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Washington, D.C. 20549</font></div><div style="margin-top:6pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:700;line-height:100%">____________________________</font></div><div style="margin-top:6pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:16pt;font-weight:700;line-height:100%">SCHEDULE 14A INFORMATION</font></div><div style="margin-top:6pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Proxy Statement Pursuant to Section 14(a) of the </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Securities Exchange Act of 1934 </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(Amendment No.     )</font></div><div style="margin-top:6pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:700;line-height:100%">____________________________</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:522.00pt"><tr><td style="width:1.0pt"></td><td style="width:19.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:121.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:375.25pt"></td><td style="width:1.0pt"></td></tr><tr style="height:15pt"><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:1pt;padding-right:2.25pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Filed by the Registrant </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#9746;</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Filed by a party other than the Registrant&#160;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#8201;</font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:120%">o</font></div></td></tr><tr style="height:15pt"><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:5pt;margin-top:5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Check the appropriate box&#58;</font></div></td></tr><tr style="height:15pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#8201;</font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:120%">o</font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Preliminary Proxy Statement</font></td></tr><tr style="height:15pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#8201;</font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:120%">o</font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</font></td></tr><tr style="height:15pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#8201;</font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:120%">o</font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Definitive Proxy Statement</font></td></tr><tr style="height:15pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#8201;</font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:120%">x</font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Definitive Additional Materials</font></td></tr><tr style="height:15pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#8201;</font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:120%">o</font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Soliciting Material under &#167;240.14a-12</font></td></tr></table></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:22pt;font-weight:700;line-height:100%">VEEVA SYSTEMS INC.</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(Name of Registrant as Specified In Its Charter)</font></div><div style="margin-top:6pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(Name of Person(s) Filing Proxy Statement, if Other Than The Registrant)</font></div><div style="margin-top:6pt;text-align:center"><font><br></font></div><div style="margin-top:6pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payment of Filing Fee (Check all boxes that apply)&#58;</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:0.1%"></td><td style="width:2.098%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.491%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:93.011%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#253;</font></div><div><font><br></font></div></td><td colspan="6" style="padding:2px 1pt 2px 3.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">No fee required</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#8201;</font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:120%">o</font></div></td><td colspan="6" style="padding:2px 1pt 2px 3.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Fee paid previously with preliminary materials</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#8201;</font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:120%">o</font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a6-(i)(1) and 0-11</font></div></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="ie414982298424d12b58756371c107e91_1"></div><hr style="page-break-after:always"><div style="min-height:47.23pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Veeva Systems Inc.</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4280 Hacienda Drive</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Pleasanton, CA 94588 </font></div><div style="margin-top:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">SUPPLEMENTAL MATERIAL TO OUR PROXY STATEMENT </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">FOR THE 2024 ANNUAL MEETING OF SHAREHOLDERS</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">TO BE HELD ON JUNE&#160;12, 2024 </font></div><div style="margin-top:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">June 3, 2024 </font></div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"></td></tr></table></div><div style="margin-top:12pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Dear Shareholders, </font></div><div style="margin-top:6pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are writing to you regarding the 2024 Annual Meeting of Shareholders of Veeva Systems Inc. (&#8220;Veeva&#8221; or the &#8220;Company&#8221;) scheduled for June 12, 2024. As noted in our proxy statement, our board of directors (&#8220;Board&#8221;) unanimously recommend a vote &#8220;FOR&#8221; the election of each director nominee at our annual meeting.</font></div><div style="margin-top:6pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Institutional Shareholder Services (&#8220;ISS&#8221;), in a recently issued report regarding the election of directors at our annual meeting, recommended shareholders vote against the re-election of our director nominees Paul Sekhri, based on overboarding, and Matt Wallach, based on its contention that Mr. Wallach is not independent. </font></div><div style="margin-top:12pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We strongly and respectfully disagree with ISS&#8217; recommendations with respect to the re-election of Mr. Sekhri and Mr. Wallach and have prepared this supplement to augment our 2024 proxy disclosures and further support the re-election of Mr. Sekhri and Mr. Wallach. </font></div><div style="margin-top:12pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Re-election of Mr. Sekhri</font></div><div><font><br></font></div><div><font><br></font></div><div><font style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Board, when undertaking its annual review of our overboarding policy, determined that Mr. Sekhri&#8217;s continued service on the Board is appropriate and in the best interest of the Company. </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mr. Sekhri possesses valuable experience, perspective, and skills that make him a critical member of the Board. His extensive experience as an executive and public company board member in the life sciences industry gives him a deep understanding of and unique insight into emerging biotech companies, which represent an important market for Veeva. In addition, he has served as an important contributing member of the Nominating and Governance Committee, in which he has played an instrumental role in the recruitment of new board members in recent years.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mr. Sekhri is an effective and engaged director who has attended each of the Company&#8217;s Board and Nominating and Governance Committee meetings in fiscal year 2024. The other three public companies on whose boards he currently sits are small-capitalization clinical stage biotechs, which are less operationally demanding than a company like Veeva.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Furthermore, Mr. Sekhri provides a diverse perspective and identifies as a member of an underrepresented community. The removal of Mr. Sekhri would serve to decrease, rather than enhance, contributions toward the diversity of viewpoints represented on the Board.</font></div><div style="margin-top:12pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Board therefore recommends re-election of Mr. Sekhri. </font></div><div style="margin-top:12pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Re-election of Mr. Wallach</font></div><div style="margin-top:12pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Contrary to ISS&#8217;s position, Mr. Wallach is in fact an independent director under the NYSE&#8217;s listing standards, including for the purpose of serving on our Nominating and Governance Committee. While Mr. Wallach is a co-founder of Veeva, he has not been an employee of the Company since June 2019. Based on this and other important factors, our Board has determined that Mr. Wallach is an independent director. </font></div><div style="margin-top:12pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Further, Mr. Wallach&#8217;s deep knowledge of Veeva, coupled with his life sciences technology expertise and </font><font style="background-color:#ffffff;color:#222222;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">deep knowledge of and relationships with our customers</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, makes him an important contributor to our Board&#8217;s leadership on strategy, risk management, and governance. As a member of our Nominating and Governance Committee, moreover, his executive experience and familiarity with Veeva&#8217;s business, markets, and customers make him </font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:47.23pt;width:100%"><div><font><br></font></div></div><div style="margin-top:12pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">uniquely qualified to identify and evaluate director candidates, including their ability to fulfill their fiduciary duties as directors of a Public Benefit Corporation in weighing the interests of our stakeholders.  </font></div><div style="margin-top:12pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Board therefore recommends the re-election of Mr. Wallach. </font></div><div style="margin-top:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">***</font></div><div style="margin-top:12pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In light of the additional disclosures provided herein, we hope that ISS will reconsider its recommendations, and that our shareholders will vote &#8220;for&#8221; Mr. Sekhri and Mr. Wallach. </font></div><div style="margin-top:12pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regards, </font></div><div style="margin-top:12pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Josh Faddis</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">SVP, General Counsel and Corporate Secretary</font></div><div style="margin-top:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">FOR THESE REASONS, WE URGE OUR SHAREHOLDERS </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">TO VOTE &#8220;FOR&#8221; ALL DIRECTOR NOMINEES. </font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div></body></html>
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