Former Officer Thomas Schwenger Files Form 144 to Sell $1.98M in Veeva Systems ($VEEV)

Executive Summary

On October 14, 2026, Thomas Schwenger, designated as a Former Officer of VEEVA SYSTEMS INC ($VEEV), submitted a Form 144 notice disclosing an intention to sell 6,695 shares of common stock through Morgan Stanley Smith Barney LLC. The aggregate market value of the proposed transaction is approximately $1,984,498.43, representing an implied price of ~$296.42 per share.

Transaction Details

• Securities to be Sold: 6,695 shares of Common Stock.
• Origin of Shares: Acquired directly from the issuer via restricted stock vesting events between January 1, 2025, and October 1, 2026.
• Recent Selling Activity: Over the preceding three months, the filer has conducted significant divestments:
  • 10/05/2026: 132,751 shares for $37,134,886.63
  • 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
  • Total Past 3 Months: 184,751 shares totaling ~$50.22M.

Context & Market Significance

While this specific filing covers a relatively modest tranche ($1.98M) representing less than 0.01% of Veeva's 161.9M shares outstanding, it forms part of an extensive post-tenure liquidation by a former executive who has sold over $50 million worth of stock since July 2026. Because the seller is no longer an active officer, the sale is likely tied to personal portfolio diversification and post-employment compensation realization rather than an operational signal about current business performance.