Varonis Systems Reports Officer Compensation, Board Changes

TL;DR

**Varonis just tweaked exec pay and board roles, keep an eye on what that means for their future.**

AI Summary

Varonis Systems, Inc. filed an 8-K on February 26, 2024, reporting an event on February 21, 2024, concerning changes in compensatory arrangements for certain officers. The filing also included information regarding the departure or election of directors and the appointment of certain officers, as well as a Regulation FD Disclosure. The company, based in New York, NY, operates under SIC code 7372 (Prepackaged Software).

Why It Matters

Changes in executive compensation and board structure can signal shifts in company strategy, financial health, or governance, impacting investor confidence and future performance.

Risk Assessment

Risk Level: medium — Changes in executive compensation and officer appointments can introduce uncertainty regarding future leadership and strategic direction, posing a medium risk.

Key Numbers

• 001-36324 — SEC File Number (Identifies the company's filing with the SEC)
• 7372 — SIC Code (Classifies the company as 'SERVICES-PREPACKAGED SOFTWARE')

Key Players & Entities

• VARONIS SYSTEMS INC (company) — Registrant
• February 21, 2024 (date) — Date of earliest event reported
• February 26, 2024 (date) — Filed as of date
• New York, NY (company) — Business address city and state
• 001-36324 (dollar_amount) — SEC File Number

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share VRNS The NASDAQ Stock Marke

Filing Documents

• f8k_022124.htm (8-K) — 23KB
• 0001171843-24-000971.txt ( ) — 193KB
• vrns-20240221.xsd (EX-101.SCH) — 3KB
• vrns-20240221_lab.xml (EX-101.LAB) — 33KB
• vrns-20240221_pre.xml (EX-101.PRE) — 22KB
• f8k_022124_htm.xml (XML) — 4KB

02

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officer. On February 21, 2024, as a result of the continued growth of Varonis Systems, Inc. (the "Company" or "Varonis"), James O'Boyle was appointed as Vice Chairman - Sales and will now be principally responsible for growth and management of strategic customer accounts, partnership relationships and channel development. In connection with this change, Greg Pomeroy, the current Vice President of Sales - North America, was appointed as Senior Vice President - Worldwide Sales and in addition to his current responsibilities will now also lead sales operations in additional markets around the world.

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. The Company is reaffirming its first quarter 2024 and full-year 2024 guidance previously issued on February 5, 2024.

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K contains "forward-looking" statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including regarding the Company's growth rate and its expectations regarding future revenues, operating income or loss or earnings or loss per share. These statements are not guarantees of future performance but are based on management's expectations as of the date of this Report and assumptions that are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements. Important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements include the following: the impact of potential information technology, cybersecurity or data security breaches; risks associated with anticipated growth in Varonis' addressable market; general economic and industry conditions, such as foreign currency exchange rate fluctuations and expenditure trends for data and cybersecurity solutions; Varonis' ability to predict the timing and rate of subscription renewals and their impact on the Company's future revenues and operating results; risks associated with international operations; the impact of global conflicts on the budgets of our clients and on economic conditions generally; competitive factors, including increased sales cycle time, changes in the competitive environment, pricing changes and increased competition; the risk that Varonis may not be able to attract or retain employees, including sales personnel and engineers; Varonis' ability to build and expand its direct sales efforts and reseller distribution channels; risks associated with the closi

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. VARONIS SYSTEMS, INC. Dated: February 26, 2024 By: /s/ Guy Melamed Name: Guy Melamed Title: Chief Financial Officer and Chief Operating Officer

View Full Filing

View this 8-K filing on SEC EDGAR