Veeva Systems management check
VEEV · Health Care · Health Care Technology · CEO Mr. Gassner
Filings as of
4 good · 1 to watch · 2 flagged, across the seven questions below.
- Flag
Have owners done well?
Trailed its chosen peers$100 invested at the start of fiscal 2022 grew to $74, against $125 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.54 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Good
What does the CEO cost owners?
0.05% of net income$471k of reported pay in fiscal 2026, against $908.9m of net income.
- Watch
Do they own the stock?
Insiders are selling4 insiders sold $16.3m in the last six months and none bought. 10 of 13 sales ran on pre-arranged 10b5-1 plans.
- Flag
Are owners being diluted?
Share count growingDiluted shares changed +1.1% a year over the last three fiscal years. Stock-based pay was 14.8% of revenue in the latest year.
- Good
Is leadership stable?
9 leadership filings in 3 yearsCEO in the pay table: Mr. Gassner. 9 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Health Care.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 0 | 26 | |
| Pay for performance | 77 | 85 | |
| CEO cost | 100 | 44 | |
| Skin in the game | — | — | 46 |
| Dilution | 20 | 68 | |
| Stable leadership | 80 | 70 | |
| Clean books | 100 | 100 |
Closest peers
Others in Health Care Technology, by management score. Veeva Systems is 31st of 60 in its sector.
- 263PFEPfizer64
- 277VEEVVeeva Systems63
- 278WSTWest Pharmaceutical Services63
- 294RMDResMed62
- 297DHRDanaher Corporation62
- 325SOLVSolventum59
Pay versus performance
From the proxy statement filed May 4, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2026 | Mr. Gassner | $471k | −$88.1m | $3.8m | $74 | $125 | $908.9m |
| 2025 | Mr. Gassner | $172.4m | $284.2m | $2.7m | $84 | $147 | $714.1m |
| 2024 | Mr. Gassner | $421k | $31.8m | $3.8m | $75 | $136 | $525.7m |
| 2023 | Mr. Gassner | $392k | −$93.7m | $7.5m | $62 | $90 | $487.7m |
| 2022 | Mr. Gassner | $350k | −$57.9m | $2.8m | $86 | $111 | $427.4m |
The board says pay is tied most to not included.
Insiders and the CEO's stake
4 insiders sold $16.3m in the last six months and none bought. 10 of 13 sales ran on pre-arranged 10b5-1 plans.
- SoldThomas D. SchwengerPres. & Chief Customer Officer · 10b5-1 plan$13.1mSep 14, 2026
- SoldJonathan FaddisSVP, Gen. Counsel, Secretary · 10b5-1 plan$1.6mOct 14, 2026
- SoldDaniel J RizzoEVP, Sales, Consulting, & Svcs$1.3mOct 2, 2026
- SoldPriscilla HungDirector$313kSep 9, 2026
Leadership and governance on file
- Aug 20, 2026Leadership change8-K 5.02
- Apr 20, 2026Leadership change8-K 5.02
- Dec 11, 2025Leadership change8-K 5.02
- Nov 18, 2025Leadership change8-K 5.02
- Mar 12, 2025Leadership change8-K 5.02
- Sep 16, 2024Leadership change8-K 5.02
- Jul 15, 2024Leadership change8-K 5.02
- Jun 21, 2024Leadership change8-K 5.02
- Apr 1, 2024Leadership change8-K 5.02
- Aug 21, 2023Leadership change8-K 5.02
- Mar 17, 2023Leadership change8-K 5.02
- Mar 7, 2023Leadership change8-K 5.02
Latest shareholder vote results: Jun 18, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $169.9m returned to owners in buybacks and dividends, 6% of net income, and $1.9bn of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $1.9bn | $2.2bn | $2.4bn | $2.7bn | $3.2bn |
| Net income | $427.4m | $487.7m | $525.7m | $714.1m | $908.9m |
| Stock-based pay | $234.6m | $351.9m | $393.7m | $437.4m | $472.7m |
| Buybacks | — | — | $0 | $0 | $169.9m |
| Dividends | — | — | — | — | — |
| Diluted shares | 162m | 162m | 163m | 165m | 167m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.