Business Context and Reporting Period
This Form 8-K Current Report was filed by Veeva Systems Inc. on August 17, 2023. The report discloses the appointment of a new Principal Accounting Officer and details the associated compensatory arrangements.
Key Financial Metrics
The filing does not provide financial performance metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation and appointment details.
Material Changes
The primary material change reported is the appointment of Kristine Diamond as Principal Accounting Officer, effective August 21, 2023. This appointment replaces the previous holder of the role, though the departure of the prior officer is not explicitly detailed in this text.
Management Commentary and Compensation Details
Ms. Diamond's compensation package includes the following components:
- Base Salary: $425,000 annually.
- Restricted Stock Units (RSUs):
- 585 shares vesting over eight months.
- 4,124 shares vesting on August 1, 2027.
- Stock Options: 1,755 shares vesting at a rate of 1/4th per year with an exercise price of $188.06.
Ms. Diamond previously served as VP, Corporate Controller for DocuSign, Inc. and held senior accounting roles at Poly (formerly Plantronics/Polycom). She is a licensed CPA in Michigan.
Investor Verification Checklist
- Verify the effective date of the Principal Accounting Officer appointment (August 21, 2023).
- Confirm the total equity grant value based on the share counts and the grant date market price of $188.06.
- Review the attached Exhibit 10.1 (Offer Letter) for additional terms not summarized in the 8-K.
- Check for any subsequent filings regarding the departure of the prior Principal Accounting Officer.