Former Veeva Systems Officer Files Form 144 to Sell $37.1M in Common Stock

Overview

On October 5, 2026, Thomas D. Schwenger, identified as a Former Officer of Veeva Systems Inc. ($VEEV), filed a notice of proposed sale on Form 144 with the SEC. The notice covers the intended sale of 132,751 shares of common stock through Morgan Stanley Smith Barney LLC, with an aggregate market value of approximately $37.13 million (implying a share price of ~$279.73).

Transaction Details

• Securities to be Sold: 132,751 shares of Common Stock.
• Aggregate Market Value: $37,134,886.63.
• Origin of Shares: Acquired on October 5, 2026, via stock option exercise from the issuer paid in cash.
• Issuer Shares Outstanding: 161,908,850 shares (the proposed transaction represents ~0.08% of total outstanding).

Prior Sales History (Past 3 Months)

Prior to this notice, Mr. Schwenger reported selling an aggregate of 52,000 shares over the past three months for total gross proceeds of ~$13,086,888:

• 09/14/2026: 1,000 shares for $265,200.00
• 08/27/2026: 10,000 shares for $2,813,300.00
• 08/13/2026: 36,000 shares for $9,008,388.00
• 07/16/2026: 5,000 shares for $1,000,000.00

Market Impact & Significance

The significance is assessed as Medium. Although the dollar value is substantial at over $37 million, the seller is a former officer exercising options and liquidating holdings, which is standard post-employment equity management rather than active insider sentiment from current management.