Form 4: Varonis Systems Vice Chairman James O'Boyle Sells Shares Under 10b5-1 Plan
SEC Form 4
James O'Boyle, Vice Chairman of Sales at Varonis Systems, sold shares of common stock on August 6, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- James O'Boyle, Vice Chairman of Sales at Varonis Systems, Inc., reported the sale of Varonis Systems Inc [VRNS] common stock on August 6, 2024.
- The sales were executed under a Rule 10b5-1 trading plan.
- A total of 41,285 shares were sold at a weighted average price of $50.78.
- An additional 33,715 shares were sold at a weighted average price of $51.36.
- Following the transactions, O'Boyle directly owns 494,114 shares of Varonis Systems Inc.
- O'Boyle also indirectly owns 30,000 shares through the James O'Boyle 2014 Family Trust.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of insider trading activity. The sales were conducted under a pre-arranged plan, suggesting no particular concern about the company's prospects.
Industry Context
This is a routine disclosure of insider trading activity. It is common for executives to sell shares under pre-arranged trading plans to avoid accusations of trading on inside information.
Stakeholder Impact
- The stock sale by a high-ranking executive could be perceived negatively by some shareholders, although the existence of a 10b5-1 plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| 08/06/2024 | Date of stock sale transactions |
| 08/08/2024 | Date of signature on the Form 4 filing |
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