# EDGAR Filing Document

**Accession Number:** 0001601074
**File Stem:** 0001171843-23-000727
**Filing Date:** 2023-2
**Character Count:** 6302
**Document Hash:** 3869e744f86a79b2720b73592f2673ee
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001171843-23-000727.hdr.sgml**: 20230206

**ACCESSION NUMBER**: 0001171843-23-000727

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230202

**FILED AS OF DATE**: 20230206

**DATE AS OF CHANGE**: 20230206

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Faitelson Yakov
- **CENTRAL INDEX KEY:** 0001601074

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36324
- **FILM NUMBER:** 23592498

**MAIL ADDRESS:**
- **STREET 1:** C/O VARONIS SYSTEMS, INC.
- **STREET 2:** 1250 BROADWAY, 31ST FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10001
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VARONIS SYSTEMS INC
- **CENTRAL INDEX KEY:** 0001361113
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **IRS NUMBER:** 571222280
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 1250 BROADWAY, 31ST FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10001
- **BUSINESS PHONE:** 877-292-8767

**MAIL ADDRESS:**
- **STREET 1:** 1250 BROADWAY, 31ST FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10001

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Faitelson Yakov<br><sub>(Last) (First) (Middle)</sub><br>C/O VARONIS SYSTEMS, INC.<br>1250 BROADWAY, 28TH FLOOR<br><sub>(Street)</sub><br>NEW YORK, NY 10001<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-02-02 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_CEO, President, Chairman_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>VARONIS SYSTEMS INC [ VRNS ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock, par value $0.001 per share | 2023-02-02 |  | A<sup>(1)</sup> |  | 41670 | A | $0 | 691395 | D |  |
| Common Stock, par value $0.001 per share |  |  |  |  |  |  |  | 3542 | I | By Spouse |
| Common Stock, par value $0.001 per share |  |  |  |  |  |  |  | 188505 | I | By Trust |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

### Footnotes:

(1) Represents shares earned by the reporting person for no consideration under certain performance-vesting restricted stock units (the "2022 PSUs"), which were granted to the reporting person pursuant to the Issuer's 2013 Omnibus Equity Incentive Plan (the "2013 Plan"). The 2022 PSUs were earned subject to the satisfaction of certain annual revenue goals for the 2022 fiscal year, the performance of which was certified by the Issuer's compensation committee on February 2, 2023. The 2022 PSUs shall vest on February 28, 2025 subject to continued employment through such date.

**Signature:** /s/ Ofer Margalit as attorney-in-fact  
**Date:** 2023-02-06

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**