Yakov Faitelson - Feb 2, 2023 Form 4 Insider Report for VARONIS SYSTEMS INC (VRNS)

Role: CEO, President, Chairman, Director
Signature: /s/ Ofer Margalit as attorney-in-fact
Stock symbol: VRNS
Transactions as of: Feb 2, 2023
Transactions value $: $0
Form type: 4
Date filed: 2/6/2023, 08:00 PM
Previous filing: Dec 2, 2022
Next filing: Feb 10, 2023

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	Award	$0	+41.7K	+6.41%	$0.00	691K	Feb 2, 2023	Direct	F1
holding	VRNS	Common Stock, par value $0.001 per share						3.54K	Feb 2, 2023	By Spouse
holding	VRNS	Common Stock, par value $0.001 per share						189K	Feb 2, 2023	By Trust

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

Explanation of Responses:

Id	Content
F1	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.

Content

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.