James O'Boyle - Sep 17, 2021 Form 4 Insider Report for VARONIS SYSTEMS INC (VRNS)

Role
SVP of Worldwide Sales
Signature
/s/ Guy Melamed, Attorney-in-Fact
Stock symbol
VRNS
Transactions as of
Sep 17, 2021
Transactions value $
-$6,440,355
Form type
4
Date filed
9/17/2021, 09:31 PM
Previous filing
Jun 3, 2021
Next filing
Feb 14, 2022

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 $392K +53.5K +17.52% $7.34 359K Sep 17, 2021 Direct
transaction VRNS Common stock, par value $0.001 per share Options Exercise $194K +19.5K +5.43% $9.96 378K Sep 17, 2021 Direct
transaction VRNS Common stock, par value $0.001 per share Options Exercise $180K +31.9K +8.43% $5.66 410K Sep 17, 2021 Direct
transaction VRNS Common stock, par value $0.001 per share Sale -$6.66M -96.9K -23.63% $68.71 313K Sep 17, 2021 Direct F1
transaction VRNS Common stock, par value $0.001 per share Sale -$549K -7.93K -2.53% $69.30 305K Sep 17, 2021 Direct F2
holding VRNS Common Stock, par value $0.001 per share 30K Sep 17, 2021 Held by James O'Boyle 2014 Family Trust

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 -53.5K -100% $0.00* 0 Sep 17, 2021 Common Stock 53.5K $7.34 Direct F3
transaction VRNS Stock Option (right to buy) Options Exercise $0 -19.5K -100% $0.00* 0 Sep 17, 2021 Common Stock 19.5K $9.96 Direct F4
transaction VRNS Stock Option (right to buy) Options Exercise $0 -31.9K -100% $0.00* 0 Sep 17, 2021 Common Stock 31.9K $5.66 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $68.03 to $69.02, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $69.03 to $69.60, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
F3 25% of the options became exercisable one year from May 12, 2014, the date of grant. 1/48th of the remaining options became exercisable monthly thereafter on a pro rata basis.
F4 25% of the options became exercisable one year from February 20, 2015, the date of grant. 1/48th of the remaining options became exercisable monthly thereafter on a pro rata basis.
F5 25% of the options became exercisable one year from February 17, 2016, the date of grant. 1/48th of the remaining options became exercisable monthly thereafter on a pro rata basis.

Remarks:

On February 26, 2021, the Issuer announced a three-for-one stock split of the Issuer's Common Stock pursuant to which each stockholder of record at the close of business on March 11, 2021 received two additional shares of Common Stock for each then held share (the "Stock Split"). The amounts of securities reported on this Form 4, including option exercise prices and numbers of shares underlying options, have been adjusted to reflect the Stock Split.