Form 4: Varonis Systems VP and General Counsel, Dov Gottlieb, Reports Acquisition of 15,480 Shares

Dov Gottlieb, VP and General Counsel of Varonis Systems, reports acquiring 15,480 shares of common stock on February 3, 2025, as part of performance-vesting restricted stock units.

Summary

• On February 3, 2025, Dov Gottlieb, VP and General Counsel of Varonis Systems, acquired 15,480 shares of common stock.
• These shares were earned under performance-vesting restricted stock units (2024 PSUs) granted under the Issuer's 2023 Omnibus Equity Incentive Plan.
• The performance goals for the 2024 fiscal year were certified by the Issuer's compensation committee on February 3, 2025.
• The 2024 PSUs will vest in three equal annual installments beginning on February 28, 2025, contingent upon continued employment.
• Following the transaction, Gottlieb beneficially owns 212,431 shares, which includes 172 shares purchased under the Issuer's 2015 Employee Stock Purchase Plan.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects standard executive compensation practices and achievement of performance goals.

Positives

• The acquisition of shares reflects the executive's achievement of performance goals set by the company.
• The vesting schedule incentivizes continued employment with Varonis Systems.

Future Outlook

The 2024 PSUs will vest in three equal annual installments beginning on February 28, 2025, subject to the reporting person's continued employment.

Industry Context

Executive compensation through equity grants is a common practice in the technology industry to align management's interests with those of shareholders and incentivize performance.

Stakeholder Impact

• The transaction increases the executive's stake in the company, aligning their interests with shareholders.
• The vesting schedule incentivizes the executive to remain with the company, providing stability.

Next Steps

• The 2024 PSUs will vest in three equal annual installments beginning on February 28, 2025, subject to continued employment.

Key Dates

Keywords

Varonis Systems, VRNS, Dov Gottlieb, Form 4, Beneficial Ownership, Performance Stock Units, Equity Incentive Plan, Executive Compensation