Yakov Faitelson - 15 Nov 2021 Form 4 Insider Report for VARONIS SYSTEMS INC (VRNS)

Role: CEO, President, Chairman, Director
Signature: /s/ Ofer Margalit as attorney-in-fact
Issuer symbol: VRNS
Transactions as of: 15 Nov 2021
Net transactions value: +$64,659
Form type: 4
Filing time: 17 Nov 2021, 18:01:26 UTC
Previous filing: 09 Sep 2021
Next filing: 11 Mar 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VRNS	Common stock, par value $0.001 per share	Options Exercise	$64,659	+22,068	+4%	$2.93^*	569,205	15 Nov 2021	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	VRNS	Stock Option (right to buy)	Options Exercise	$0	-22,068	-100%	$0.000000^*	0	15 Nov 2021	Common Stock	22,068	$2.93	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	25% of the options became exercisable one year from 2/27/2012, the date of grant. 36/48th of the total number of options became exercisable monthly thereafter on a pro rata basis over a period of three (3) years.