SEC Form 4 · accession 0001171843-15-004692
VARONIS SYSTEMS INC · VRNS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ohad Korkus
Officer — Chief Technology Officer · Director
Period of report
Aug 11, 2015
Accepted (ET)
Aug 13, 2015 · 8:00 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001361113
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, $0.001 par value | Aug 11, 2015 | M | 173,392 | $0.901 | A | 1,107,270 | D | |
| Common Stock, $0.001 par value | Aug 11, 2015 | M | 86,763 | $1.039 | A | 1,194,033 | D | |
| Common Stock, $0.001 par value | Aug 11, 2015 | M | 247,596 | $1.256 | A | 1,441,629 | D | |
| Common Stock, $0.001 par value | Aug 11, 2015 | M | 52,560 | $1.256 | A | 1,494,189 | D | |
| Common Stock, $0.001 par value | Aug 11, 2015 | M | 193,919 | $1.256 | A | 1,688,108 | D | |
| Common Stock, $0.001 par value | Aug 11, 2015 | S | 371,000 | $21.83 | D | 1,317,108 | D | |
| Common Stock, $0.001 par value | Aug 12, 2015 | S | 31,000 | $22.52 | D | 1,286,108 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (right to buy)F3 | $0.901 | Aug 11, 2015 | M | 173,392 | D | Dec 26, 2009 | Jun 29, 2019 | Common Stock | 173,392 | 0 | D |
| Stock Option (right to buy)F4 | $1.039 | Aug 11, 2015 | M | 86,763 | D | Jan 9, 2008 | Jan 9, 2018 | Common Stock | 86,763 | 0 | D |
| Stock Option (right to buy) | $1.256 | Aug 11, 2015 | M | 247,596 | D | Jan 15, 2009 | Jan 15, 2019 | Common Stock | 247,596 | 0 | D |
| Stock Option (right to buy) | $1.256 | Aug 11, 2015 | M | 52,560 | D | Jun 25, 2009 | Jun 25, 2019 | Common Stock | 52,560 | 0 | D |
| Stock Option (right to buy)F5 | $1.256 | Aug 11, 2015 | M | 193,919 | D | Jan 1, 2010 | Aug 5, 2019 | Common Stock | 193,919 | 0 | D |
Explanation of responses
- F1Represents shares sold by the reporting person in a private sale in a "sell to cover" transaction to cover the amount of the aggregate exercise prices and the tax withholding obligations in connection with the exercise of the options listed in Table II.
- F2Represents shares sold by the reporting person in the open market in a "sell to cover" transaction to cover the amount of the aggregate exercise prices and the tax withholding obligations in connection with the exercise of the options listed in Table II.
- F3166,998 options were exercisable upon the date of grant, December 26, 2009. The remaining options became exercisable monthly, beginning one month from the date of grant on a pro rata basis until March 31, 2010.
- F443,382 options were exercisable upon the date of grant, January 9, 2008. 1/48th of the remaining options became exercisable monthly thereafter.
- F5105,120 options were exercisable on January 1, 2010. The remaining options became exercisable one year after.