# EDGAR Filing Document

**Accession Number:** 0001361113
**File Stem:** 0001213900-25-069348
**Filing Date:** 2025-7
**Character Count:** 36332
**Document Hash:** ccce864a1206428820e8ff999f9202e6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-069348.hdr.sgml**: 20250730

**ACCESSION NUMBER**: 0001213900-25-069348

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 15

**FILED AS OF DATE**: 20250730

**DATE AS OF CHANGE**: 20250730

**EFFECTIVENESS DATE**: 20250730

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VARONIS SYSTEMS INC
- **CENTRAL INDEX KEY:** 0001361113
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 571222280
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-289098
- **FILM NUMBER:** 251167955

**BUSINESS ADDRESS:**
- **STREET 1:** 801 BRICKELL AVENUE
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33131
- **BUSINESS PHONE:** 877-292-8767

**MAIL ADDRESS:**
- **STREET 1:** 801 BRICKELL AVENUE
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33131

**As filed with the Securities and Exchange Commission on July 30, 2025**

**Registration No. 333-** 

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM S-8**

**REGISTRATION STATEMENT**

***UNDER***

***THE SECURITIES ACT OF 1933***

**VARONIS SYSTEMS, INC.**

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **Delaware** | **57-1222280** |
| (State or other jurisdiction of <br> incorporation or organization) | (I.R.S. Employer <br> Identification No.) |

---

---

| | |
|:---|:---|
| **801 Brickell Avenue<br> Miami, FL** | **33131** |
| (Address of Principal Executive Offices) | (Zip Code) |

---

**Varonis Systems, Inc. 2025 Employee Stock Purchase Plan**

(Full title of the plan)

**Yakov Faitelson**

**Chief Executive Officer and President**

**Varonis Systems, Inc.**

**801 Brickell Avenue**

**Miami, Florida**

**(877) 292-8767**

(Name, address and telephone number, including area code, of agent for service)

***Copy to:***

 ****

**Colin Diamond**

**Shai Marshall**

**Paul Hastings LLP**

**200 Park Avenue**

**New York, New York 10166**

**(212) 318-6000**

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☒ Accelerated filer ☐ <br> Non-accelerated filer ☐ Smaller reporting company ☐ <br> Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

**PART I**

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS**

 **Item 1. Plan Information.\*** 

 **Item 2. Registrant Information and Employee Plan Annual Information.\***

\* As permitted by Rule 428 under the Securities Act of 1933, as amended (the "Securities Act"), this Registration Statement omits the information specified in Part I of Form S-8. The documents containing the information specified in this Part I of Form S-8 ("Plan Information" and "Registrant Information and Employee Plan Annual Information") will be sent or given to employees as specified by the SEC pursuant to Rule 428(b)(1) under the Securities Act. Such documents are not required to be and are not filed with the SEC either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 under the Securities Act. These documents and the documents incorporated by reference in this Registration Statement pursuant to Item 3 of Part II hereof, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act. The Company will provide a written statement to participants advising them of the availability without charge, upon written or oral request, of the documents incorporated by reference in Item 3 of Part II hereof and including the statement in the preceding sentence. The written statement to all participants will indicate the availability without charge, upon written or oral request, of other documents required to be delivered pursuant to Rule 428(b) under the Securities Act, and will include the address and telephone number to which the request is to be directed.

**PART II**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT**

 **Item 3. Incorporation of Documents by Reference.** 

The following documents previously filed with the SEC are hereby incorporated by reference into this Registration Statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company's Annual Report on [Form 10-K](https://www.sec.gov/Archives/edgar/data/1361113/000162828025004187/vrns-20241231.htm) for the year
ended December 31, 2024, filed with the SEC on February 6, 2025 (the "Annual Report"), including the portions of the Company's
Definitive Proxy Statement on [Schedule 14A](https://www.sec.gov/Archives/edgar/data/1361113/000114036125014911/ny20045073x1_def14a.htm) filed on April 22, 2025 that are incorporated by reference in the Annual Report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Company's Quarterly Report on [Form 10-Q](https://www.sec.gov/Archives/edgar/data/1361113/000162828025023196/vrns-20250331.htm) for the
quarter ended March 31, 2025, filed with the SEC on May 7, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Company's Quarterly Report on [Form 10-Q](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001361113/000162828025036728/vrns-20250630.htm) for the
quarter ended June 30, 2025, filed with the SEC on July 30, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Company's Current Reports on Form 8-K filed with
the SEC on [February 14, 2025](https://www.sec.gov/Archives/edgar/data/1361113/000117184325000870/f8k_021425.htm) and [June 6, 2025](https://www.sec.gov/Archives/edgar/data/1361113/000117184325003769/f8k_060625.htm) ; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the description of the Common Stock set forth in the Registration
Statement on [Form 8-A](https://www.sec.gov/Archives/edgar/data/1361113/000119312514067400/d683048d8a12b.htm) , dated February 25, 2014, filed with the SEC by the Company to register such securities under the Securities Exchange
Act of 1934, as amended (the "Exchange Act"), and any amendment or report filed for the purpose of updating this information
(including [Exhibit 4.1](https://www.sec.gov/Archives/edgar/data/1361113/000162828025004187/vrnsq4202441.htm) to the Annual Report).

All documents subsequently filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be part hereof from the date of filing of such documents with the SEC, except as to any portion of any future current report furnished under Items 2.02 or 7.01 of Form 8-K that is not deemed filed under such provisions.

Any statement contained in a document incorporated or deemed to be incorporated by reference in this Registration Statement shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained in this Registration Statement, or in any other subsequently filed document that also is or is deemed to be incorporated by reference in this Registration Statement, modifies or supersedes such prior statement. Any statement contained in this Registration Statement shall be deemed to be modified or superseded to the extent that a statement contained in a subsequently filed document that is or is deemed to be incorporated by reference in this Registration Statement modifies or supersedes such prior statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

You should rely only on the information provided or incorporated by reference in this Registration Statement or any related prospectus. The Company has not authorized anyone to provide you with different information. You should not assume that the information in this Registration Statement or any related prospectus is accurate as of any date other than the date on the front of the document.

 **Item 4. Description of Securities.**

Not applicable.

 **Item 5. Interests of Named Experts and Counsel.** 

Not applicable.

 **Item 6. Indemnification of Directors and Officers.**

Set forth below is a description of certain provisions of the Company's amended and restated certificate of incorporation, amended and restated bylaws and Delaware law as such provisions relate to the Company's directors and officers. This description is intended only as a summary and is qualified in its entirety by reference to the Company's amended and restated certificate of incorporation, amended and restated bylaws and Delaware law.

Section 102 of the Delaware General Corporation Law (the "DGCL") allows a corporation to eliminate or limit the personal liability of directors and officers of a corporation to the corporation or its stockholders for monetary damages for a breach of a fiduciary duty as a director or officer, except where the director or officer breached his or her duty of loyalty to the corporation or its stockholders, failed to act in good faith, engaged in intentional misconduct or knowingly violated a law, authorized the payment of a dividend or approved a stock repurchase or redemption in violation of the DGCL or derived an improper personal benefit, or, with respect to any officer, any action by or in the right of the corporation.

Section 145 of the DGCL provides, among other things, that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding (other than an action by or in the right of the corporation) by reason of the fact that the person is or was a director, officer, employee or agent of the corporation, or is or was serving at the corporation's request as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses, including attorneys' fees, judgments, fines and amounts paid in settlement actually and reasonably incurred by the person in connection with the action, suit or proceeding. The power to indemnify applies if such person acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the corporation, and with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful. The power to indemnify applies to actions brought by or in the right of the corporation as well, but only to the extent of defense expenses (including attorneys' fees but excluding amounts paid in settlement) actually and reasonably incurred and not to any satisfaction of judgment or settlement of the claim itself, and with the further limitation that in such actions no indemnification shall be made in the event of any adjudication of negligence or misconduct in the performance of his duties to the corporation, unless a court believes that in light of all the circumstances indemnification should apply. If a present or former director or officer is successful on the merits or otherwise in defense of any action, suit or proceeding, the corporation must reimburse reasonable expenses (including attorneys' fees).

Section 174 of the DGCL provides, among other things, that a director who willfully or negligently approves of an unlawful payment of dividends or an unlawful stock purchase or redemption may be held liable for such actions. A director who was either absent when the unlawful actions were approved or dissented at the time, may avoid liability by causing his or her dissent to such actions to be entered in the books containing the minutes of the meetings of the board of directors at the time the action occurred or immediately after the absent director receives notice of the unlawful acts.

The Company's amended and restated certificate of incorporation states that no director shall be personally liable to the Company or any of its stockholders for monetary damages for breach of fiduciary duty as a director, except to the extent such exemption from liability or limitation thereof is not permitted under the DGCL as it exists or may be amended. A director is also not exempt from liability for any transaction from which he or she derived an improper personal benefit, or for violations of Section 174 of the DGCL. To the maximum extent permitted under Section 145 of the DGCL, the Company's amended and restated certificate of incorporation authorizes the Company to indemnify any and all persons whom it has the power to indemnify under the law.

The Company's amended and restated bylaws provide that the Company will indemnify, to the fullest extent permitted by the DGCL, each person who was or is made a party or is threatened to be made a party in any legal proceeding by reason of the fact that he or she is or was a director or officer of the Company or is or was a director or officer of the Company serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise. However, such indemnification is permitted only if such person acted in good faith and in a manner such person reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal action or proceeding, had no reasonable cause to believe such person's conduct was unlawful. Indemnification is authorized on a case-by-case basis by (1) the Company's board of directors by a majority vote of disinterested directors, (2) a committee of the disinterested directors by a majority vote, (3) independent legal counsel in a written opinion if (1) and (2) are not available, or if disinterested directors so direct, or (4) the stockholders. Indemnification of former directors or officers shall be determined by any person authorized to act on the matter on the Company's behalf. Expenses incurred by a director or officer in defending against such legal proceedings are payable before the final disposition of the action, provided that the director or officer undertakes to repay the Company if it is later determined that he or she is not entitled to indemnification.

The Company has entered into separate indemnification agreements with its directors and executive officers. Each indemnification agreement provides, among other things, for indemnification to the fullest extent permitted by law and the Company's amended and restated certificate of incorporation and amended and restated bylaws against any and all expenses, judgments, fines, penalties and amounts paid in settlement of any claim. The indemnification agreements provide for the advancement or payment of all expenses to the indemnitee and for reimbursement to the Company if it is found that such indemnitee is not entitled to such indemnification under applicable law and the Company's amended and restated certificate of incorporation and amended and restated bylaws.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling the Company pursuant to the foregoing provisions, the Company has been informed that, in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

The Company maintains industry standard policies of insurance under which coverage is provided to its directors and officers against legal liability for loss which is not indemnified arising from claims made by reason of breach of duty or other wrongful act while acting in their capacity as directors and officers of the registrant.

 **Item 7. Exemption from Registration Claimed.**

Not applicable.

 **Item 8. Exhibits.**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 4.1<sup>(1)</sup> | [Amended and Restated Certificate of Incorporation](https://www.sec.gov/Archives/edgar/data/1361113/000119312514190004/d708469dex31.htm) |
| 4.2<sup>(2)</sup> | [Amended and Restated Bylaws](https://www.sec.gov/Archives/edgar/data/1361113/000162828022002017/vrnsq4202132.htm) |
| 5.1\* | [Opinion of Paul Hastings LLP](ea025049502ex5-1_varonis.htm) |
| 23.1\* | [Consent of Kost Forer Gabbay & Kasierer, independent registered public accountants](ea025049502ex23-1_varonis.htm) |
| 23.2\* | [Consent of Paul Hastings LLP (included as part of Exhibit 5.1)](ea025049502ex5-1_varonis.htm) |
| 24.1\* | [Power of Attorney (included on the signature page to this Registration Statement)](#POA_001) |
| 99.1<sup>(3)</sup> | [Varonis Systems, Inc. 2025 Employee Stock Purchase Plan](https://www.sec.gov/Archives/edgar/data/1361113/000114036125014911/ny20045073x1_def14a.htm#tAVS) |
| 107\* | [Filing Fee Table](ea025049502ex-fee_varonis.htm) |

---

(1) Filed as Exhibit 3.1 to the Company's Quarterly Report on Form 10-Q filed with the SEC on May 8, 2014 and incorporated herein by reference.

(2) Filed as Exhibit 3.2 to the Company's Annual Report on Form 10-K filed with the SEC on February 8, 2022 and incorporated herein by reference.

(3) Filed as Appendix A to the Company's Definitive Proxy Statement on Schedule 14A filed with the SEC on April 22, 2025 and incorporated herein by reference.

\* Filed herewith.

 **Item 9. Undertakings.** 

(a) The undersigned Registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being
made, a post-effective amendment to this Registration Statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by Section 10(a)(3) of
the Securities Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising
after the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which, individually or
in the aggregate, represent a fundamental change in the information set forth in this Registration Statement. Notwithstanding the foregoing,
any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which
was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus
filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change
in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration
statement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan
of distribution not previously disclosed in this Registration Statement or any material change to such information in this Registration
Statement;

 

*Provided, however*, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the SEC by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under
the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the termination of the offering.

(b) The undersigned Registrant hereby undertakes that, for purposes
of determining any liability under the Securities Act, each filing of the Registrant's annual report pursuant to Section 13(a)
or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to
Section 15(d) of the Exchange Act) that is incorporated by reference in this Registration Statement shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

(c) Insofar as indemnification for liabilities arising under
the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions,
or otherwise, the Registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed
in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other
than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the
successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with
the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as
expressed in the Securities Act and will be governed by the final adjudication of such issue.

**SIGNATURES**

Pursuant to the requirements of the Securities Act, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Miami, State of Florida, on July 30, 2025.

---

| | |
|:---|:---|
| VARONIS SYSTEMS, INC. | VARONIS SYSTEMS, INC. |
| By: | /s/ Yakov Faitelson |
| Name: | Yakov Faitelson |
| Title: | Chief Executive Officer and President |

---

**POWER OF ATTORNEY**

Each person whose signature appears below constitutes and appoints Yakov Faitelson and Guy Melamed, and each of them, their true and lawful attorneys-in-fact and agents, each with full power of substitution and resubstitution, severally, for them and in their name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as they might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them or their substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| SIGNATURE | TITLE | DATE |
| /s/ Yakov Faitelson | Chief Executive Officer, President and Chairman of the Board | July 30, 2025 |
| Yakov Faitelson | (Principal Executive Officer) |  |
| /s/ Guy Melamed | Chief Financial Officer and Chief Operating Officer | July 30, 2025 |
| Guy Melamed | (Principal Financial Officer and Principal Accounting Officer) |  |
| /s/ Carlos Aued | Director | July 30, 2025 |
| Carlos Aued |  |  |
| /s/ Kevin Comolli | Director | July 30, 2025 |
| Kevin Comolli |  |  |
| /s/ John J. Gavin, Jr. | Director | July 30, 2025 |
| John J. Gavin, Jr. |  |  |
| /s/ Gili Iohan | Director | July 30, 2025 |
| Gili Iohan |  |  |
| /s/ Avrohom J. Kess | Director | July 30, 2025 |
| Avrohom J. Kess |  |  |
| /s/ Ohad Korkus | Director | July 30, 2025 |
| Ohad Korkus |  |  |
| /s/ Thomas F. Mendoza | Director | July 30, 2025 |
| Thomas F. Mendoza |  |  |
| /s/ Rachel Prishkolnik | Director | July 30, 2025 |
| Rachel Prishkolnik |  |  |
| /s/ Ofer Segev | Director | July 30, 2025 |
| Ofer Segev |  |  |
| /s/ Fred van den Bosch | Director | July 30, 2025 |
| Fred van den Bosch |  |  |

---

## Exhibit 5.1

**Exhibit 5.1**

![](ex5-1_001.jpg)

July 30, 2025

Varonis Systems, Inc.<br> 1250 Broadway, 28th Floor<br> New York, New York 10001

Re: Varonis System, Inc. – Registration Statement on Form S-8

Ladies and Gentlemen:

We have acted as counsel to Varonis Systems, Inc., a Delaware corporation (the "***Company***"), in connection with the preparation of the registration statement on Form S-8 to be filed by the Company with the U.S. Securities and Exchange Commission (the "***Commission***") on the date hereof (the "***Registration Statement***") to effect registration under the Securities Act of 1933, as amended (the "***Securities Act***"), of 8,000,000 shares (the "***Shares***") of the Company's common stock, $0.001 par value per share ("***Common Stock***"), reserved for future issuance under the Company's 2025 Employee Stock Purchase Plan (the "***2025 ESPP***").

As such counsel and for purposes of our opinion set forth below, we have examined and relied upon originals or copies, certified or otherwise identified to our satisfaction, of such documents, resolutions, certificates and instruments of the Company and corporate records furnished to us by the Company, and have reviewed certificates of public officials, statutes, records and such other instruments and documents as we have deemed necessary or appropriate as a basis for the opinion set forth below, including, without limitation:

&nbsp;&nbsp;&nbsp;&nbsp;(i) the Registration Statement;

&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Amended and Restated Certificate of Incorporation of
the Company (the "  ***Certificate of Incorporation*** "), as certified as of July 30, 2025 by the Office of the Secretary
of State of the State of Delaware;

&nbsp;&nbsp;&nbsp;&nbsp;(iii) the Amended and Restated Bylaws of the Company as presently
in effect, as certified by an officer of the Company on July 30, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;(iv) the 2025 ESPP and the forms of agreements related thereto;

&nbsp;&nbsp;&nbsp;&nbsp;(v) a certificate, dated as of July 30, 2025, from the Office
of the Secretary of State of the State of Delaware, certifying as to the existence and good standing of the Company in the State of Delaware
(the "  ***Good Standing Certificate*** ");

&nbsp;&nbsp;&nbsp;&nbsp;(vi) the resolutions adopted by the board of directors of the Company regarding
the 2025 ESPP, and other matters related thereto, as certified by an officer of the Company on July 30, 2025; and

&nbsp;&nbsp;&nbsp;&nbsp;(vii) the resolutions adopted by the shareholders of the Company regarding the
2025 ESPP, and other matters related thereto, as certified by an officer of the Company on July 30, 2025.

![](ex5-1_001.jpg)

Varonis Systems, Inc.

July 30, 2025

In addition to the foregoing, we have made such investigations of law as we have deemed necessary or appropriate as a basis for the opinion set forth in this opinion letter.

In such examination and in rendering the opinion expressed below, we have assumed, without independent investigation or verification: (i) the genuineness of all signatures on all agreements, instruments, corporate records, certificates and other documents submitted to us; (ii) the authenticity and completeness of all agreements, instruments, corporate records, certificates and other documents submitted to us as originals; (iii) that all agreements, instruments, corporate records, certificates and other documents submitted to us as certified, electronic, facsimile, conformed, photostatic or other copies conform to originals thereof, and that such originals are authentic and complete; (iv) the legal capacity, competency and authority of all individuals executing all agreements, instruments, corporate records, certificates and other documents; (v) the due authorization, execution and delivery of all agreements, instruments, corporate records, certificates and other documents by all parties thereto (other than the Company); (vi) that no documents submitted to us have been amended or terminated orally or in writing except as has been disclosed to us in writing; (vii) that the statements contained in the certificates and comparable documents of public officials, officers and representatives of the Company and other persons on which we have relied for the purposes of this opinion letter are true and correct on and as of the date hereof; (viii) that there has not been any change in the good standing status of the Company from that reported in the Good Standing Certificate; and (ix) that each of the officers and directors of the Company has properly exercised his or her fiduciary duties. As to all questions of fact material to this opinion letter, and as to the materiality of any fact or other matter referred to herein, we have relied (without independent investigation or verification) upon representations and certificates or comparable documents of officers and representatives of the Company. We have also assumed that the individual issuances, grants, awards or grants of purchase rights under the 2025 ESPP will be duly authorized by all necessary corporate action of the Company and duly issued, granted or awarded and exercised in accordance with the requirements of law, the 2025 ESPP and the agreements, forms of instrument, awards and grants duly adopted thereunder. We have also assumed that upon the issuance of any Shares, the total number of shares of Common Stock issued and outstanding will not exceed the total number of shares of Common Stock that the Company is then authorized to issue under the Certificate of Incorporation.

Based upon the foregoing, and in reliance thereon, and subject to the assumptions, limitations, qualifications and exceptions set forth herein, we are of the opinion that the Shares are duly authorized and, when issued and sold as described in the Registration Statement and in accordance with the 2025 ESPP and the applicable award agreements or forms of instrument evidencing purchase rights thereunder (including the receipt by the Company of the full consideration therefor), will be validly issued, fully paid and nonassessable.

Without limiting any of the other assumptions, limitations, qualifications and exceptions stated elsewhere herein, we express no opinion with regard to the applicability or effect of the laws of any jurisdiction other than the General Corporation Law of the State of Delaware, as in effect on the date of this opinion letter.

This opinion letter deals only with the specified legal issues expressly addressed herein, and you should not infer any opinion that is not explicitly stated herein from any matter addressed in this opinion letter.

![](ex5-1_001.jpg)

Varonis Systems, Inc.

July 30, 2025

This opinion letter is rendered solely in connection with the preparation and filing of the Registration Statement. This opinion letter is rendered as of the date hereof, and we assume no obligation to advise you or any other person with regard to any change after the date hereof in the circumstances or the law that may bear on the matters set forth herein even if the change may affect the legal analysis or a legal conclusion or other matters in this opinion letter.

We hereby consent to the filing of this opinion letter as Exhibit 5.1 to the Registration Statement. In giving such consent, we do not hereby admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act or the rules or regulations of the Commission thereunder.

---

| |
|:---|
| Very truly yours, |
| /s/ Paul Hastings LLP |

---

## Exhibit 23.1

**Exhibit 23.1**

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We consent to the incorporation by reference in the Registration Statement (Form S-8) pertaining to the 2025 Employee Stock Purchase Plan of Varonis Systems, Inc. of our reports dated February 6, 2025, with respect to the consolidated financial statements of Varonis Systems, Inc. and the effectiveness of internal control over financial reporting of Varonis Systems, Inc. included in its Annual Report (Form 10-K) for the year ended December 31, 2024, filed with the Securities and Exchange Commission.

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| |
|:---|
| /s/ Kost Forer Gabbay & Kasierer |
| A Member of EY Global |
| Tel Aviv, Israel |
| July 30, 2025 |

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## Ex-Filing

?xml version='1.0' encoding='ASCII'? Filing Fee Exhibit

**Ex-Filing Fees**

**CALCULATION OF FILING FEE TABLES**

**S-8**

**Varonis Systems, Inc.**

**Table 1: Newly Registered and Carry Forward Securities**

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Line Item Type** | **Security Type** | **Security Class Title** | **Notes** | **Fee Calculation<br> Rule** | **Amount Registered** | **Proposed Maximum Offering<br> Price Per Unit** | **Maximum Aggregate Offering Price** | **Fee Rate** | **Amount of Registration Fee** |
| *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* |
| Fees to be Paid | Equity | Common Stock, par value $0.001 per share | (1) | Other | 8000000 | $54.2450 | $433960000.00 | 0.0001531 | $66439.28 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | $433960000.00 |  | 66439.28 |
| Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: |  |  |  |
| Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: |  |  | 0.00 |
| Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: |  |  | $66439.28 |

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**__________________________________________ Offering Note(s)**

&nbsp;&nbsp;&nbsp;&nbsp;(1) Represents 8,000,000 shares of the Registrant's common stock, par value $0.001 per share ("Common Stock"), that may be issued under the Registrant's 2025 Employee Stock Purchase Plan (the "2025 ESPP"). Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"), this registration statement shall also cover any additional shares of Common Stock that become issuable under the 2025 ESPP by reason of any stock split, stock dividend, recapitalization or other similar transaction effected without the Company's receipt of consideration that increases the number of the outstanding shares of Common Stock. The proposed maximum offering price per share is estimated in accordance with Rules 457(c) and (h) under the Securities Act solely for the purpose of calculating the registration fee on the basis of $54.245 per share, which represents the average of the high and low sale prices of the Common Stock as reported on the Nasdaq Global Select Market on July 25, 2025.