Form 4: Varonis Systems CEO Yakov Faitelson Reports Stock Transactions
SEC Form 4 Filing
CEO Yakov Faitelson reports disposition of shares to cover tax obligations and updates beneficial ownership.
Summary
- Yakov Faitelson, CEO, President, and Chairman of Varonis Systems Inc., filed a Form 4 detailing changes in beneficial ownership.
- On February 29, 2024, 156,149 shares of common stock were disposed of at a price of $50.8 per share to satisfy tax withholding requirements on vesting of restricted stock units and performance vesting units.
- Following the transaction, Faitelson directly owns 1,364,590 shares of common stock.
- Additionally, Faitelson indirectly owns 4,941 shares through a spouse and 253,384 shares through a trust.
- The direct holdings include 613 shares purchased under the Issuer's 2015 Employee Stock Purchase Plan.
Sentiment
Score: 5
Explanation: Neutral sentiment as it is a standard reporting of stock transactions by an insider.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, ensuring transparency and compliance with SEC regulations.
Stakeholder Impact
- The transaction may have a minor impact on shareholders due to the disposal of shares, but it is primarily related to tax obligations.
- The filing ensures transparency for stakeholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| 02/29/2024 | Date of stock transaction (disposal of shares). |
| 03/04/2024 | Date of signature for the Form 4 filing. |
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