Veeva Systems Inc. (VEEV) Earnings Call Transcript & Summary

Good day, and welcome to the Veeva Systems Inc. 2021 Special Meeting of Stockholders. I would now like to turn the conference over to Josh Faddis. Please go ahead.

Good afternoon. My name is Josh Faddis. I'm the General Counsel and Corporate Secretary of Veeva Systems. I'm very happy to welcome you to Veeva's Special Meeting of Stockholders. The meeting will now officially come to order. The time is 12:01 p.m. on Wednesday, January 13, 2021, and the polls are now open for voting on all matters to be presented at this meeting. As you know, we are hosting today's meeting through a virtual online platform that's provided by Broadridge. Before we proceed to the formal business of the meeting, I would like to introduce other members of the Veeva team who are with us today. The members of Veeva's management team with us today include Peter Gassner, our Founder and CEO, who is also a Director; Brent Bowman, our CFO; and Ato Garrett, Senior Director of Investor Relations. Also present are members of our Board of Directors, Tim Barabe; Mark Carges; Paul Chamberlain; Ron Codd; Mary Lynne Hadley; Gordon Ritter, our Board Chair; Paul Sekhri; and Matt Wallach. Also with us is Kathy Wheadon from Broadridge Financial Solutions, who is acting as our Inspector of Elections. We will now move to the formal business of the meeting. Broadridge has delivered an affidavit of distribution, establishing the notice of this meeting has been duly given. A copy of the notice and the affidavit of distribution will be filed with the minutes of the meeting. All stockholders of record at the close of business on November 27, 2020, are entitled to vote at this meeting. Broadridge has also advised me that proxies have been received for a sufficient number of shares to constitute a quorum, so the meeting is duly convened for the purpose of transacting business. Stockholders who are attending this meeting with a valid 16-digit control number may submit questions through the text box located on the virtual meeting screen. After we'll read -- we'll review and comment questions. And during the QA portion of the meeting, we'll read questions out loud for us to respond. At today's meeting, QA will be limited to questions that pertain to the proposals presented for vote at this meeting. After questions, we will close the polls and announce the preliminary results of the voting. We will not accept ballots, proxies, revocations or changes after the closing of the polls. If you've already submitted your vote by proxy and do not wish to change your vote, then you do not need to vote now. If you have not already voted and you intend to do so, you must submit your vote online before the polls close. If you logged in with your control number, you can vote online now by clicking the Vote Here icon at the bottom right corner of the online meeting portal. I will now present the 2 proposals submitted for approval at this meeting. First proposal is to adopt and approve the amendment of our restated certificate of incorporation to become a Delaware Public Benefit Corporation. We recommend you vote for this proposal. The second proposal is to adopt and approve the amendment to our restated certificate of incorporation to eliminate the classified structure of our Board. We recommend you vote for this proposal. There are no other proposals for today's meeting. We will now review any questions submitted by shareholders. As a reminder, we will only be answering questions that pertain to the 2 proposals just presented. Ato, are there any questions on the 2 proposals?

We are not showing any questions at this time.

Okay. All right. Thank you. If you intend to vote at this meeting and have not already done so, again, you must submit your vote online now in order to be counted. I will pause briefly for any final votes to be cast online. I'm now showing 12:05 p.m. on Wednesday, January 13, 2021. I hereby declare the polls closed. Based on all proxies and ballots received prior to the commencement of this meeting, I can confirm the following: The proposal to amend our restated certificate of incorporation to become a Delaware Public Benefit Corporation has passed, and the proposal to amend our restated certificate of incorporation to eliminate the classified structure of our Board has also passed. The inspector of election will conduct a final count of all votes on these matters, and the final results will be included in the minutes of this meeting and filed publicly on Form 8-K. This concludes the formal business of the meeting. As there's no further business, I will now adjourn this meeting. Thank you very much for participating in this historic vote which makes Veeva the first publicly traded company to convert to a public benefit corporation. Support from shareholders was overwhelming, and we thank you for your continued interest in Veeva.

The conference has now concluded. Thank you for attending today's meeting. You may now disconnect.