<SEC-DOCUMENT>0001178913-23-000830.txt : 20230302
<SEC-HEADER>0001178913-23-000830.hdr.sgml : 20230302
<ACCEPTANCE-DATETIME>20230302161041
ACCESSION NUMBER:		0001178913-23-000830
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20230302
DATE AS OF CHANGE:		20230302
EFFECTIVENESS DATE:		20230302

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CyberArk Software Ltd.
		CENTRAL INDEX KEY:			0001598110
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-270222
		FILM NUMBER:		23699018

	BUSINESS ADDRESS:	
		STREET 1:		94 EM-HA'MOSHAVOT RD.
		STREET 2:		PARK OFER, P.O. BOX 3143
		CITY:			PETACH-TIKVA
		STATE:			L3
		ZIP:			4970602
		BUSINESS PHONE:		97239180000

	MAIL ADDRESS:	
		STREET 1:		94 EM-HA'MOSHAVOT RD.
		STREET 2:		PARK OFER, P.O. BOX 3143
		CITY:			PETACH-TIKVA
		STATE:			L3
		ZIP:			4970602

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Cyber-Ark Software Ltd.
		DATE OF NAME CHANGE:	20140123
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>zk2329305.htm
<DESCRIPTION>S-8
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Z-K Global
         Document created using Broadridge PROfile 23.1.1.5115
         Copyright 1995 - 2023 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <div class="BRPFPageHeader">
      <div style="line-height: 1.25;">
        <hr align="center" style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"></div>
    </div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">As filed with the Securities and Exchange Commission on March&#160;2, 2023</div>
    <div style="text-align: right; line-height: 1.25; font-weight: bold;">Registration No.&#160;333-&#160;_____________&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;"></div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">WASHINGTON, D.C. 20549</div>
    <div style="line-height: 1.25;">
      <div style="line-height: 1.25">&#160;
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
    </div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold;">FORM S-8</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">REGISTRATION STATEMENT</div>
    <div style="text-align: center; line-height: 1.25; font-style: italic; font-weight: bold;">UNDER</div>
    <div style="text-align: center; line-height: 1.25; font-style: italic; font-weight: bold;">THE SECURITIES ACT OF 1933</div>
    <div style="line-height: 1.25;">
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <div style="line-height: 1.25">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
    </div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;">CYBERARK SOFTWARE LTD.</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">(Exact name of registrant as specified in its charter)</div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="line-height: 1.25;">
      <div style="text-align: center; line-height: 1.25;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;">&#160;</div>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z59e142d21f91458aa43c8d5684425649">

        <tr>
          <td style="width: 49%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25; font-weight: bold;">Israel</div>
          </td>
          <td style="width: 2%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 49%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25; font-weight: bold;">Not Applicable</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25; font-weight: bold;">(State or Other Jurisdiction of</div>
            <div style="text-align: center; line-height: 1.25; font-weight: bold;">Incorporation or Organization)</div>
          </td>
          <td style="width: 2%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 49%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25; font-weight: bold;">(I.R.S. Employer</div>
            <div style="text-align: center; line-height: 1.25; font-weight: bold;">Identification Number)</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">CyberArk Software Ltd.</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">9 Hapsagot St.</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">Park Ofer 2, P.O. Box 3143</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">Petach Tikva 4951041, Israel</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">Tel: +972 (3)&#160;918-0000</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">(Address of Principal Executive Offices) (Zip Code)</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">CyberArk Software Ltd. 2020 Employee Share Purchase Plan</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">(Full Title of the Plan)</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">CyberArk Software, Inc.</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">60 Wells Avenue</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">Newton, Massachusetts 02459</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">(Name and address of agent for service)</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">Tel: (617)&#160;965-1544</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">(Telephone number, including area code, of agent for service)</div>
    <div style="line-height: 1.25">&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: center; line-height: 1.25; font-style: italic; font-weight: bold;">Copies to:</div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="line-height: 1.25;">
      <table cellspacing="0" cellpadding="0" border="0" id="z8235ed1313d74cdb877f42753f8f9d09" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

          <tr>
            <td style="width: 33.33%; text-align: center; vertical-align: top;">
              <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Josh Kiernan, Esq.</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Julia A. Thompson, Esq.</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Latham &amp; Watkins LLP</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">99 Bishopsgate</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">London EC2M 3XF</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">United Kingdom</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Tel: +44-20-7710-1000</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Fax: +44-20-7374-4460</div>
            </td>
            <td style="width: 33.33%; text-align: center; vertical-align: top;">
              <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Donna Rahav</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Chief Legal Officer</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">CyberArk Software Ltd.</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">9 Hapsagot St.</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Park Ofer 2, P.O. Box 3143</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Petach Tikva 4951041, Israel</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Tel: +972-3-918-0000</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Fax: +972-3-924-0111</div>
            </td>
            <td style="width: 33.33%; text-align: center; vertical-align: top;">
              <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Dan Shamgar, Adv.</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Dr. Shachar Hadar, Adv.</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Meitar | Law Offices</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">16 Abba Hillel Silver Rd.</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Ramat Gan 5250608, Israel</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Tel: +972-3-610-3100</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Fax: +972-3-610-3111</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="line-height: 1.25;"> <br>
    </div>
    <div style="line-height: 1.25;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of &#8220;large
      accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company,&#8221; and &#8220;emerging growth company&#8221; in Rule 12b-2 of the Exchange Act.</div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="line-height: 1.25;">
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
    <div style="line-height: 1.25;"> <br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z1251f02c6d0c44ec8968928e8cbceaa5">

        <tr>
          <td style="width: 16.85%; vertical-align: bottom;">
            <div style="line-height: 1.25;">Large&#160;accelerated&#160;filer</div>
          </td>
          <td style="width: 0.98%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 57.8%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#9746;</div>
          </td>
          <td style="width: 1.11%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;&#160;</div>
          </td>
          <td style="width: 20.45%; vertical-align: bottom;">
            <div style="line-height: 1.25;">Accelerated&#160;filer</div>
          </td>
          <td style="width: 0.98%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 1.83%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#9744;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.85%; vertical-align: bottom;">
            <div style="line-height: 1.25;">Non-accelerated filer</div>
          </td>
          <td style="width: 0.98%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 57.8%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#9744;</div>
          </td>
          <td style="width: 1.11%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;&#160;</div>
          </td>
          <td style="width: 20.45%; vertical-align: bottom;">
            <div style="line-height: 1.25;">Smaller&#160;reporting&#160;company</div>
          </td>
          <td style="width: 0.98%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 1.83%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#9744;</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 16.85%; vertical-align: middle;">Emerging growth company </td>
          <td rowspan="1" style="width: 0.98%; vertical-align: bottom;">&#160;</td>
          <td rowspan="1" style="width: 57.8%; vertical-align: bottom;">&#9744;</td>
          <td rowspan="1" style="width: 1.11%; vertical-align: bottom;">&#160;</td>
          <td rowspan="1" style="width: 20.45%; vertical-align: bottom;">&#160;</td>
          <td rowspan="1" style="width: 0.98%; vertical-align: bottom;">&#160;</td>
          <td rowspan="1" style="width: 1.83%; vertical-align: bottom;">&#160;</td>
        </tr>

    </table>
    <div style="line-height: 1.25;"><br>
    </div>
    <div style="line-height: 1.25;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to
      Section 7(a)(2)(B) of the Securities Act. &#9744;</div>
    <div style="line-height: 1.25;">
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div class="BRPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
    </div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">EXPLANATORY NOTE</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-indent: 36pt; line-height: 1.25;">This Registration Statement is being filed to register an additional 200,000 ordinary shares, par value NIS 0.01&#160;per share (&#8220;<font style="font-weight: bold;">Ordinary Shares</font>&#8221;), of CyberArk
      Software Ltd. (the &#8220;<font style="font-weight: bold;">Registrant</font>,&#8221; &#8220;<font style="font-weight: bold;">we</font>,&#8221; &#8220;<font style="font-weight: bold;">our</font>&#8221; or &#8220;<font style="font-weight: bold;">us</font>&#8221;) issuable pursuant to the CyberArk
      Software Ltd. 2020 Employee Share Purchase Plan (the &#8220;<font style="font-weight: bold;">2020 ESPP</font>&#8221;).</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-indent: 36pt; line-height: 1.25;">On March 11, 2021, we filed with the Securities and Exchange Commission (the &#8220;<font style="font-weight: bold;">Commission</font>&#8221;) a registration statement on Form S-8 (File No. 333-254152) registering
      125,000 Ordinary Shares issuable under the 2020 ESPP. The purpose of this Registration Statement is to register an additional 200,000 Ordinary Shares issuable under the 2020 ESPP, effective as of January 1, 2023, resulting from an automatic increase
      in the number of Ordinary Shares available for issuance under the 2020 ESPP.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-indent: 36pt; line-height: 1.25;">Pursuant to Instruction E of Form S-8, the contents of our prior registration statement on Form S-8 (File No. 333-254152) is incorporated herein by reference, and the information required by Part II is
      omitted, except as supplemented by the information set forth below.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">PART II</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">Information Required in the Registration Statement</div>
    <div style="line-height: 1.25;">&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zb45d279b1cbf4bba8fdced154a1504b7">

        <tr>
          <td style="width: 5%; vertical-align: top;">
            <div style="line-height: 1.25;"><font style="font-weight: bold;">Item&#160;3</font>.</div>
          </td>
          <td style="width: 95%; vertical-align: top;">
            <div style="line-height: 1.25; font-weight: bold;">Incorporation of Documents by Reference.</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-indent: 47.3pt; line-height: 1.25;">We hereby incorporate by reference the following documents (or portions thereof) that we have filed with or furnished to the Commission:</div>
    <div style="line-height: 1.25;">&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z55b9ab1e62734657b3eff5456de228a2">

        <tr>
          <td style="width: 7%; vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 4%; vertical-align: top;">
            <div style="line-height: 1.25;">(a)</div>
          </td>
          <td style="width: 89%; vertical-align: top;">
            <div style="line-height: 1.25;">Our Annual Report on <a href="https://www.sec.gov/Archives/edgar/data/1598110/000117891323000828/0001178913-23-000828-index.htm">Form 20-F</a> for the year ended December 31, 2022, filed with the Commission on
              March&#160;2, 2023; and</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25;">&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z1119f98db98f47e98ad65b2407e2c23d">

        <tr>
          <td style="width: 7%; vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 4%; vertical-align: top;">
            <div style="line-height: 1.25;">(b)</div>
          </td>
          <td style="width: 89%; vertical-align: top;">
            <div style="line-height: 1.25;">The description of our Ordinary Shares under &#8220;Item 1. Description of Registrant&#8217;s Securities to be Registered&#8221; in our Registration Statement on <a href="https://www.sec.gov/Archives/edgar/data/1598110/000119312514342640/d758641d8a12b.htm">Form 8-A</a>, filed with the Commission on September&#160;16, 2014.</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-indent: 47.3pt; line-height: 1.25;">All other documents filed by us pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, as amended, and, to the extent designated therein, Reports of Foreign Private
      Issuer on Form 6-K furnished by us to the Commission that are identified in such forms as being incorporated into this Registration Statement, in each case, subsequent to the effective date of this Registration Statement and prior to the filing of a
      post-effective amendment to this Registration Statement indicating that all securities offered under the Registration Statement have been sold, or deregistering all securities then remaining unsold, are also incorporated herein by reference and shall
      be a part hereof from the date of the filing or furnishing of such documents.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-indent: 47.3pt; line-height: 1.25;">Any statement contained herein or in a document all or a portion of which is incorporated or deemed incorporated by reference herein shall be deemed to be modified or superseded for purposes of this
      Registration Statement to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement.&#160;Any statement so modified or
      superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z35defd6cc36c4990b117129c29832809">

        <tr>
          <td style="width: 5%; vertical-align: top;">
            <div style="line-height: 1.25; font-weight: bold;">Item&#160;8.</div>
          </td>
          <td style="width: 95%; vertical-align: top;">
            <div style="line-height: 1.25; font-weight: bold;">Exhibits.</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" id="zc360fc489f024438b31af05166e0a82c">

        <tr>
          <td style="width: 6.67%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Exhibit</div>
            <div style="line-height: 1.25;">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Number</div>
            </div>
          </td>
          <td style="width: 1.67%; vertical-align: bottom; padding-bottom: 2px;">
            <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;&#160;</div>
          </td>
          <td style="width: 91.67%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Exhibit</div>
            </div>
          </td>
        </tr>
        <tr>
          <td style="width: 6.67%; vertical-align: middle;">
            <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
          </td>
          <td colspan="2" style="width: 93.33%; vertical-align: middle;">
            <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 6.67%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><a href="https://www.sec.gov/Archives/edgar/data/1598110/000117891318000853/exhibit_1-1.htm">3.1</a></div>
          </td>
          <td style="width: 1.67%; vertical-align: bottom;"><a href="https://www.sec.gov/Archives/edgar/data/1598110/000117891318000853/exhibit_1-1.htm"><br>
            </a> </td>
          <td style="width: 91.67%; vertical-align: top;">
            <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><a href="https://www.sec.gov/Archives/edgar/data/1598110/000117891318000853/exhibit_1-1.htm">Amended and Restated Articles of Association of the Registrant (1)</a></div>
          </td>
        </tr>
        <tr>
          <td style="width: 6.67%; vertical-align: middle;">&#160;</td>
          <td colspan="2" style="width: 93.33%; vertical-align: middle;">
            <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 6.67%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><a href="https://www.sec.gov/Archives/edgar/data/1598110/000117891320001603/exhibit_99-1.htm">4.1</a></div>
          </td>
          <td style="width: 1.67%; vertical-align: bottom;"><a href="https://www.sec.gov/Archives/edgar/data/1598110/000117891320001603/exhibit_99-1.htm"><br>
            </a> </td>
          <td style="width: 91.67%; vertical-align: top;">
            <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><a href="https://www.sec.gov/Archives/edgar/data/1598110/000117891320001603/exhibit_99-1.htm">CyberArk Software Ltd. 2020 Employee Share Purchase Plan (2)</a></div>
          </td>
        </tr>
        <tr>
          <td style="width: 6.67%; vertical-align: middle;">&#160;</td>
          <td colspan="2" style="width: 93.33%; vertical-align: middle;">
            <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 6.67%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><a href="https://www.sec.gov/Archives/edgar/data/1598110/000119312514321639/d692893dex41.htm">4.2</a></div>
          </td>
          <td style="width: 1.67%; vertical-align: bottom;"><a href="https://www.sec.gov/Archives/edgar/data/1598110/000119312514321639/d692893dex41.htm"><br>
            </a> </td>
          <td style="width: 91.67%; vertical-align: top;">
            <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><a href="https://www.sec.gov/Archives/edgar/data/1598110/000119312514321639/d692893dex41.htm">Specimen ordinary share certificate of the Registrant (3)</a></div>
          </td>
        </tr>
        <tr>
          <td style="width: 6.67%; vertical-align: middle;">&#160;</td>
          <td colspan="2" style="width: 93.33%; vertical-align: middle;">
            <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 6.67%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><a href="exhibit_5-1.htm">5.1</a></div>
          </td>
          <td style="width: 1.67%; vertical-align: bottom;"><br>
          </td>
          <td style="width: 91.67%; vertical-align: top;">
            <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><a href="exhibit_5-1.htm">Opinion of Meitar | Law Offices as to the legality of CyberArk
                Software Ltd.&#8217;s Ordinary Shares being registered*</a></div>
          </td>
        </tr>
        <tr>
          <td style="width: 6.67%; vertical-align: middle;">&#160;</td>
          <td colspan="2" style="width: 93.33%; vertical-align: middle;">
            <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 6.67%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><a href="exhibit_23-1.htm">23.1</a></div>
          </td>
          <td style="width: 1.67%; vertical-align: bottom;"><br>
          </td>
          <td style="width: 91.67%; vertical-align: top;">
            <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><a href="exhibit_23-1.htm">Consent of Kost, Forer, Gabbay and Kasierer, a member of
                Ernst &amp; Young Global*</a></div>
          </td>
        </tr>
        <tr>
          <td style="width: 6.67%; vertical-align: middle;">&#160;</td>
          <td colspan="2" style="width: 93.33%; vertical-align: middle;">
            <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 6.67%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><a href="exhibit_5-1.htm">23.2</a></div>
          </td>
          <td style="width: 1.67%; vertical-align: bottom;"><br>
          </td>
          <td style="width: 91.67%; vertical-align: top;">
            <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><a href="exhibit_5-1.htm">Consent of Meitar | Law Offices (included in Exhibit 5.1)*</a></div>
          </td>
        </tr>
        <tr>
          <td style="width: 6.67%; vertical-align: middle;">&#160;</td>
          <td colspan="2" style="width: 93.33%; vertical-align: middle;">
            <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 6.67%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><a href="#POWER">24.1</a></div>
          </td>
          <td style="width: 1.67%; vertical-align: bottom;"><br>
          </td>
          <td style="width: 91.67%; vertical-align: top;">
            <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><a href="#POWER">Power of Attorney (included on the signature page of this Registration Statement)*</a></div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 6.67%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 1.67%; vertical-align: bottom;">&#160;</td>
          <td rowspan="1" style="width: 91.67%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 6.67%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><a href="exhibit_107.htm">107</a></div>
          </td>
          <td style="width: 1.67%; vertical-align: bottom;"><br>
          </td>
          <td style="width: 91.67%; vertical-align: top;">
            <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><a href="exhibit_107.htm">Filing Fee Table*</a></div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25;">
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z12fa0837d8334e9db1a24bfd6fad348b">

        <tr>
          <td style="width: 6.67%; vertical-align: top;">
            <div style="line-height: 1.25;">(1)</div>
          </td>
          <td colspan="2" style="width: 93.33%; vertical-align: top;">
            <div style="line-height: 1.25;">Incorporated by reference to Exhibit 1.1 to the Registrant&#8217;s Annual Report on Form 20-F for the year ended December 31, 2017, filed with the Commission on March 15, 2018.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 6.67%; vertical-align: top;">
            <div style="line-height: 1.25;">(2)</div>
          </td>
          <td colspan="2" style="width: 93.33%; vertical-align: top;">
            <div style="line-height: 1.25;">Incorporated by reference to Appendix A to the Company&#8217;s proxy statement for the 2020 annual general meeting of shareholders, furnished as Exhibit 99.1 to the Company&#8217;s Report of Foreign Private Issuer on Form
              6-K filed with the Commission on May 26, 2020.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 6.67%; vertical-align: top;">
            <div style="line-height: 1.25;">(3)</div>
          </td>
          <td colspan="2" style="width: 93.33%; vertical-align: top;">
            <div style="line-height: 1.25;">Incorporated by reference to Exhibit 4.1 to Amendment No. 2 to the Registration Statement on Form F-1, filed with the Commission on August&#160;26, 2014.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 6.67%; vertical-align: top;">
            <div style="line-height: 1.25;">*</div>
          </td>
          <td style="width: 54.73%; vertical-align: top;">
            <div style="line-height: 1.25;">Filed herewith.</div>
          </td>
          <td style="width: 38.6%; vertical-align: top;">&#160;</td>
        </tr>

    </table>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: center; line-height: 1.25;">&#160;<font style="font-weight: bold;">SIGNATURES</font></div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-indent: 47.3pt; line-height: 1.25;">Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has
      duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Boston, Massachusetts, on this 2nd<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#160;</sup>day of March, 2023.</div>
    <div style="line-height: 1.25;">&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z2b5209035f8f45b19e10f437c0aa4541">

        <tr>
          <td colspan="2" style="vertical-align: top;">
            <div style="line-height: 1.25; font-weight: bold;">CyberArk Software Ltd.</div>
          </td>
          <td colspan="1" style="vertical-align: top; width: 66%;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 4%; vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="vertical-align: middle; width: 30%;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td colspan="1" style="vertical-align: middle; width: 66%;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 4%; vertical-align: top; padding-bottom: 2px;">
            <div style="line-height: 1.25;">By:</div>
          </td>
          <td style="width: 30%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">
              <div style="line-height: 1.25;">/s/ Ehud Mokady</div>
            </div>
          </td>
          <td colspan="1" style="width: 66%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 4%; vertical-align: top;">
            <div style="line-height: 1.25;">Name:</div>
          </td>
          <td style="width: 30%; vertical-align: top;">
            <div style="line-height: 1.25;">Ehud Mokady</div>
          </td>
          <td colspan="1" style="width: 66%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 4%; vertical-align: top;">
            <div style="line-height: 1.25;">Title:</div>
          </td>
          <td style="width: 30%; vertical-align: top;">
            <div style="line-height: 1.25;">Chief Executive Officer and Chairman of the Board</div>
          </td>
          <td colspan="1" style="width: 66%; vertical-align: top;">&#160;</td>
        </tr>

    </table>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;"><a name="POWER"><!--Anchor--></a>POWER OF ATTORNEY</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-indent: 47.3pt; line-height: 1.25;">KNOW ALL PERSONS BY THESE PRESENTS that the undersigned officers and directors of CyberArk Software Ltd., an Israeli corporation, do hereby constitute and appoint Ehud Mokady, Chief Executive
      Officer, and Joshua Siegel, Chief Financial Officer, and each of them, their lawful attorneys-in-fact and agents with full power and authority to do any and all acts and things and to execute any and all instruments which said attorneys and agents,
      and any one of them, determine may be necessary or advisable or required to enable said corporation to comply with the Securities Act of 1933, as amended, and any rules or regulations or requirements of the Securities and Exchange Commission in
      connection with this Registration Statement. Without limiting the generality of the foregoing power and authority, the powers granted include the power and authority to sign the names of the undersigned officers and directors in the capacities
      indicated below to this Registration Statement, to any and all amendments, including post-effective amendments, and supplements to this Registration Statement and to any and all instruments or documents filed as part of or in conjunction with such
      registration statements or amendments or supplements thereof and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, and each of the undersigned hereby ratifies and
      confirms that all said attorneys and agents, or any one of them, shall do or cause to be done by virtue hereof. This Power of Attorney may be signed in several counterparts.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-indent: 47.3pt; line-height: 1.25;">IN WITNESS WHEREOF, each of the undersigned has executed this Power of Attorney as of the date indicated.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-indent: 47.3pt; line-height: 1.25;">Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25;">[<font style="font-style: italic;">Signature Page to Follow</font>]</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z7ff954a64ccc43e18f748e92ec38441c">

        <tr>
          <td style="width: 33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">
              <div style="text-align: center; line-height: 1.25; font-weight: bold;">Signature</div>
            </div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;&#160;</div>
          </td>
          <td style="width: 32%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">
              <div style="text-align: center; line-height: 1.25; font-weight: bold;">Title</div>
            </div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">
              <div style="text-align: center; line-height: 1.25; font-weight: bold;">Date</div>
            </div>
          </td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">
              <div style="line-height: 1.25;"><font style="line-height: 1.25;">&#160;</font></div>
              <div style="line-height: 1.25;">/s/ Ehud Mokady</div>
            </div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;&#160;</div>
          </td>
          <td style="width: 32%; vertical-align: top;">
            <div style="text-indent: -8.8pt; margin-left: 8.8pt; line-height: 1.25;">Chief Executive Officer (Principal Executive Officer) and Chairman of the Board</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 33%; vertical-align: bottom;">
            <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">March 2, 2023</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: top;">
            <div style="line-height: 1.25;">Ehud Mokady</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;&#160;</div>
          </td>
          <td style="width: 32%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 33%; vertical-align: bottom;">
            <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">
              <div style="line-height: 1.25;">/s/ Joshua Siegel</div>
            </div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;&#160;</div>
          </td>
          <td style="width: 32%; vertical-align: top;">
            <div style="text-indent: -8.8pt; margin-left: 8.8pt; line-height: 1.25;">Chief Financial Officer (Principal Financial and Accounting Officer)</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 33%; vertical-align: bottom;">
            <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">March 2, 2023</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: top;">
            <div style="line-height: 1.25;">Joshua Siegel</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;&#160;</div>
          </td>
          <td style="width: 32%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 33%; vertical-align: bottom;">
            <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">
              <div style="line-height: 1.25;">/s/ Gadi Tirosh</div>
            </div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;&#160;</div>
          </td>
          <td style="width: 32%; vertical-align: top;">
            <div style="line-height: 1.25;">Lead Independent Director</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 33%; vertical-align: bottom;">
            <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">March 2, 2023</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: top;">
            <div style="line-height: 1.25;">Gadi Tirosh</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;&#160;</div>
          </td>
          <td style="width: 32%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 33%; vertical-align: bottom;">
            <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">
              <div style="line-height: 1.25;">/s/ Ron Gutler</div>
            </div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;&#160;</div>
          </td>
          <td style="width: 32%; vertical-align: top;">
            <div style="line-height: 1.25;">Director</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 33%; vertical-align: bottom;">
            <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">March 2, 2023</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: top;">
            <div style="line-height: 1.25;">Ron Gutler</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;&#160;</div>
          </td>
          <td style="width: 32%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 33%; vertical-align: bottom;">
            <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">
              <div style="line-height: 1.25;">/s/ Kim Perdikou</div>
            </div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;&#160;</div>
          </td>
          <td style="width: 32%; vertical-align: top;">
            <div style="line-height: 1.25;">Director</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 33%; vertical-align: bottom;">
            <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">March 2, 2023</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: top;">
            <div style="line-height: 1.25;">Kim Perdikou</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;&#160;</div>
          </td>
          <td style="width: 32%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 33%; vertical-align: bottom;">
            <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">
              <div style="line-height: 1.25;">/s/ David Schaeffer</div>
            </div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;&#160;</div>
          </td>
          <td style="width: 32%; vertical-align: top;">
            <div style="line-height: 1.25;">Director</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 33%; vertical-align: bottom;">
            <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">March 2, 2023</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: top;">
            <div style="line-height: 1.25;">David Schaeffer</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;&#160;</div>
          </td>
          <td style="width: 32%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 33%; vertical-align: bottom;">
            <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">
              <div style="line-height: 1.25;">/s/ Amnon Shoshani</div>
            </div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;&#160;</div>
          </td>
          <td style="width: 32%; vertical-align: top;">
            <div style="line-height: 1.25;">Director</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 33%; vertical-align: bottom;">
            <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">March 2, 2023</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: top;">
            <div style="line-height: 1.25;">Amnon Shoshani</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;&#160;</div>
          </td>
          <td style="width: 32%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 33%; vertical-align: bottom;">
            <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 33%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
          <td rowspan="1" style="width: 32%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
          <td rowspan="1" style="width: 33%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">/s/ Fran&#231;ois Auque</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">&#160;</td>
          <td style="width: 32%; vertical-align: top;">
            <div style="line-height: 1.25;">Director</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">&#160;</td>
          <td style="width: 33%; vertical-align: bottom;">
            <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">March 2, 2023</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: top;">
            <div style="line-height: 1.25;">Fran&#231;ois Auque</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">&#160;</td>
          <td style="width: 32%; vertical-align: top;">&#160;</td>
          <td style="width: 1%; vertical-align: bottom;">&#160;</td>
          <td style="width: 33%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 33%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
          <td rowspan="1" style="width: 32%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
          <td rowspan="1" style="width: 33%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">/s/ Avril England</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">&#160;</td>
          <td style="width: 32%; vertical-align: top;">
            <div style="line-height: 1.25;">Director</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">&#160;</td>
          <td style="width: 33%; vertical-align: bottom;">
            <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">March 2, 2023</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: top;">
            <div style="line-height: 1.25;">Avril England</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">&#160;</td>
          <td style="width: 32%; vertical-align: top;">&#160;</td>
          <td style="width: 1%; vertical-align: bottom;">&#160;</td>
          <td style="width: 33%; vertical-align: top;">&#160;</td>
        </tr>

    </table>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25;">AUTHORIZED REPRESENTATIVE IN</div>
    <div style="line-height: 1.25;">THE UNITED STATES:</div>
    <div style="line-height: 1.25;">&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z85be8b0075d14c32a5e45748b55ae75a">

        <tr>
          <td colspan="2" style="vertical-align: top;">
            <div style="line-height: 1.25; font-weight: bold;">Cyber-Ark Software, Inc.</div>
          </td>
          <td colspan="1" style="width: 66%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 4%; vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 30%; vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td colspan="1" style="width: 66%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 4%; vertical-align: top; padding-bottom: 2px;">
            <div style="line-height: 1.25;">By:</div>
          </td>
          <td style="width: 30%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">
              <div style="line-height: 1.25;">/s/ Ehud Mokady</div>
            </div>
          </td>
          <td colspan="1" style="width: 66%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 4%; vertical-align: top;">
            <div style="line-height: 1.25;">Name:</div>
          </td>
          <td style="width: 30%; vertical-align: top;">
            <div style="line-height: 1.25;">Ehud Mokady</div>
          </td>
          <td colspan="1" style="width: 66%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 4%; vertical-align: top;">
            <div style="line-height: 1.25;">Title:</div>
          </td>
          <td style="width: 30%; vertical-align: top;">
            <div style="line-height: 1.25;">Chief Executive Officer, President, Founder and Chairman of the Board</div>
          </td>
          <td colspan="1" style="width: 66%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 4%; vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 30%; vertical-align: middle;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td colspan="1" style="width: 66%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 4%; vertical-align: top;">
            <div style="line-height: 1.25;">Date:</div>
          </td>
          <td style="width: 30%; vertical-align: top;">
            <div style="line-height: 1.25;">March 2, 2023</div>
          </td>
          <td colspan="1" style="width: 66%; vertical-align: top;">&#160;</td>
        </tr>

    </table>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25;">[<font style="font-style: italic;">Signatures to Power of Attorney to CyberArk Form S-8 Registration Statement</font>]&#160;</div>
    <div style="line-height: 1.25">&#160;</div>
    <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"></div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>exhibit_5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Z-K Global
         Document created using Broadridge PROfile 23.1.1.5115
         Copyright 1995 - 2023 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <hr align="center" style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;">
    <div>
      <div style="line-height: 1.25;">
        <div style="text-align: right; line-height: 1.25; font-weight: bold;"><u>Exhibit 5.1</u></div>
        <div style="line-height: 1.25">&#160;</div>
      </div>
      <div style="text-align: center; line-height: 1.25;"><img src="image0.jpg"></div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">CyberArk Software Ltd.</div>
      <div style="line-height: 1.25;">9 Hapsagot St.</div>
      <div style="line-height: 1.25;">Park Ofer 2, P.O. Box 3143</div>
      <div style="line-height: 1.25;">Petach Tikva 4951041, Israel</div>
      <div style="text-align: right; line-height: 1.25;">March&#160;2, 2023&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 4%; vertical-align: top;">
              <div style="line-height: 1.25;">Re:</div>
            </td>
            <td style="width: 96%; vertical-align: top;">
              <div style="line-height: 1.25;"><u>Registration Statement on Form S-8</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">Ladies and Gentlemen:</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-indent: 23.1pt; line-height: 1.25;">We have acted as Israeli counsel to
          CyberArk Software Ltd., a company organized under the laws of the State of Israel (the &#8220;<font style="font-weight: bold;">Company</font>&#8221;), in connection with its registration statement on Form S-8 (the &#8220;<font style="font-weight: bold;">Registration Statement</font>&#8221;) filed with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the &#8220;<font style="font-weight: bold;">Securities Act</font>&#8221;) covering up to 200,000
          ordinary shares of the Company, par value New Israeli Shekel 0.01&#160;per share (&#8220;<font style="font-weight: bold;">Ordinary Shares</font>&#8221;) (the &#8220;<font style="font-weight: bold;">Shares</font>&#8221;) that
          are available for issuance under the CyberArk Software Ltd. 2020 Employee Share Purchase Plan (the &#8220;<font style="font-weight: bold;">Plan</font>&#8221;).</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-indent: 23.1pt; line-height: 1.25;">In connection with this opinion, we have examined originals or copies, certified or otherwise identified to our
        satisfaction, of the Plan, the Registration Statement, the Company&#8217;s Articles of Association (as in effect as of the date hereof), and such other agreements, certificates, resolutions, minutes and other statements of corporate officers and other
        representatives of the Company and others and other documents provided to us by the Company as we have deemed necessary or appropriate as a basis for this opinion.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-indent: 23.1pt; line-height: 1.25;">In rendering an opinion on the matters hereinafter set forth, we have assumed the authenticity of all original
        documents submitted to us as certified, conformed or photographic copies thereof, the genuineness of all signatures and the due authenticity of all persons executing such documents. We have assumed the same to have been properly given and to be
        accurate. We have also assumed the truth of all facts communicated to us by the Company and that all consents, minutes and protocols of meetings of the Company&#8217;s board of directors which have been provided to us are true and accurate and have been
        properly prepared in accordance with the Company&#8217;s Articles of Association (as amended) and all applicable laws. In addition, we have assumed that the Company will receive the full consideration for the Shares (which may consist, in part or in
        full, of services performed for the Company).</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-indent: 23.1pt; line-height: 1.25;">Members of our firm are admitted to the Bar in the State of Israel, and we do not express any opinion as to the laws
        of any other jurisdiction. This opinion is limited to the matters stated herein and no opinion is implied or may be inferred beyond the matters expressly stated.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-indent: 23.1pt; line-height: 1.25;">Based upon and subject to the foregoing, we are of the opinion that the Shares have been duly authorized and
        reserved for issuance and, when issued and paid for, will be legally issued, fully paid and non-assessable.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-indent: 23.1pt; line-height: 1.25;">We hereby consent to the filing of this opinion letter as an exhibit to the Registration Statement. In giving this
        opinion and such consent, we do not admit that we are within the category of persons whose consent is required under Section&#160;7 of the Securities Act, the rules and regulations of the Securities and Exchange Commission promulgated thereunder or
        Item&#160;509 of Regulation S-K promulgated under the Securities Act.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-indent: 23.1pt; line-height: 1.25;">This opinion letter is rendered as of the date hereof and we disclaim any obligation to advise you of facts,
        circumstances, events or developments that may be brought to our attention after the effective date of the Registration Statement that may alter, affect or modify the opinions expressed herein.</div>
      <div style="line-height: 1.25;">&#160;</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 25%; vertical-align: top;">
              <div style="line-height: 1.25;">Very truly yours,</div>
            </td>
            <td style="width: 75%; vertical-align: top;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 75%; vertical-align: middle;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25;">
                <div style="line-height: 1.25;">/s/ Meitar | Law Offices</div>
              </div>
            </td>
            <td style="width: 75%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: top;">
              <div style="line-height: 1.25;">Meitar | Law Offices</div>
            </td>
            <td style="width: 75%; vertical-align: top;" colspan="1">&#160;</td>
          </tr>

      </table>
      <div style="text-align: right; line-height: 1.25; font-weight: bold;"> <br>
      </div>
      <div style="text-align: right; line-height: 1.25; font-weight: bold;">
        <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"></div>
    </div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>exhibit_23-1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Z-K Global
         Document created using Broadridge PROfile 23.1.1.5115
         Copyright 1995 - 2023 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <hr align="center" style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;">
    <div>
      <div style="text-align: right; line-height: 1.25; font-weight: bold;"><u>Exhibit 23.1</u></div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-indent: 23.1pt; line-height: 1.25;">We consent to the incorporation by reference in the Registration Statement (Form S-8) pertaining to the CyberArk Software Ltd. 2020 Employee Share Purchase Plan of our reports dated March 2, 2023,
        with respect to the consolidated financial statements of CyberArk Software Ltd. and the effectiveness of internal control over financial reporting of CyberArk Software Ltd. included in its Annual Report (Form 20-F) for the year ended December 31,
        2022, filed with the Securities and Exchange Commission.</div>
      <div style="line-height: 1.25;">&#160;</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 50%; vertical-align: middle;">
              <div style="line-height: 1.25;">Tel Aviv, Israel</div>
            </td>
            <td style="width: 50%; vertical-align: middle;">
              <div style="text-align: center; line-height: 1.25;">/s/ Kost Forer Gabbay &amp; Kasierer</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: middle;" rowspan="1">&#160;</td>
            <td style="width: 50%; vertical-align: middle;" rowspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: middle;">
              <div style="line-height: 1.25;">March&#160;2, 2023</div>
            </td>
            <td style="width: 50%; vertical-align: middle;">
              <div style="text-align: center; line-height: 1.25;">A Member of Ernst &amp; Young Global</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25;">
        <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"></div>
      <div style="line-height: 1.25;"></div>
    </div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-FILING FEES
<SEQUENCE>4
<FILENAME>exhibit_107.htm
<DESCRIPTION>EXHIBIT 107
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Z-K Global
         Document created using Broadridge PROfile 23.1.1.5115
         Copyright 1995 - 2023 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <hr align="center" style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;">
    <div>
      <div style="text-align: right; line-height: 1.25; font-weight: bold;"><u>Exhibit 107</u></div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">CALCULATION OF FILING FEE TABLE</div>
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">FORM S-8</div>
      <div style="text-align: center; line-height: 1.25;">(Form Type)</div>
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">CYBERARK SOFTWARE LTD.</div>
      <div style="text-align: center; line-height: 1.25;">(Exact Name of Registrant as Specified in its Charter)</div>
      <div style="text-align: center; line-height: 1.25;">&#160; <br>
      </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;"><u>Table 1: Newly Registered Securities</u></div>
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <table cellspacing="0" cellpadding="3" border="0" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 7.7%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="3">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Security Type</div>
            </td>
            <td style="width: 17.64%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="3">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Security Class Title</div>
            </td>
            <td style="width: 10.2%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="3">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Fee Calculation Rule</div>
            </td>
            <td style="width: 12.57%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><font style="font-weight: bold;">Amount Registered </font>(1)</div>
            </td>
            <td style="width: 10.71%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="4">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Proposed Maximum Offering Price Per Unit</div>
            </td>
            <td style="width: 12.96%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="4">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Maximum Aggregate Offering Price</div>
            </td>
            <td style="width: 17.06%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="5">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Fee Rate</div>
            </td>
            <td style="width: 11.16%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Amount of Registration Fee</div>
            </td>
          </tr>
          <tr>
            <td style="width: 7.7%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="3">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Equity</div>
            </td>
            <td style="width: 17.64%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="3">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Ordinary Shares, par value New Israeli Shekel $0.01 per share (&#8220;<font style="font-weight: bold;">Ordinary Shares</font>&#8221;)</div>
            </td>
            <td style="width: 10.2%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="3">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Other</div>
            </td>
            <td style="width: 12.57%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">200,000 <sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">(2)</sub></div>
            </td>
            <td style="width: 10.71%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="4">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">$145.41 <sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">(3)</sub></div>
            </td>
            <td style="width: 12.96%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="4">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">$29,082,000.00</div>
            </td>
            <td style="width: 17.06%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="5">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">0.00011020</div>
            </td>
            <td style="width: 11.16%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">$3,204.84</div>
            </td>
          </tr>
          <tr>
            <td style="width: 48.11%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="11">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Total Offering Amounts</div>
            </td>
            <td style="width: 10.71%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="4">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
            </td>
            <td style="width: 12.96%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="4">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">$29,082,000.00</div>
            </td>
            <td style="width: 17.06%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="5">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
            </td>
            <td style="width: 11.16%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">$3,204.84</div>
            </td>
          </tr>
          <tr>
            <td style="width: 48.11%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="11">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Total Fee Offsets</div>
            </td>
            <td style="width: 10.71%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="4">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
            </td>
            <td style="width: 12.96%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="4">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
            </td>
            <td style="width: 17.06%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="5">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
            </td>
            <td style="width: 11.16%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">$0.00</div>
            </td>
          </tr>
          <tr>
            <td style="width: 48.11%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="11">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Net Fee Due</div>
            </td>
            <td style="width: 10.71%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="4">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
            </td>
            <td style="width: 12.96%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="4">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
            </td>
            <td style="width: 17.06%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="5">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
            </td>
            <td style="width: 11.16%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);" colspan="3">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">$3,204.84</div>
            </td>
          </tr>

      </table>
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 15.2pt;"><br>
            </td>
            <td style="width: 20.8pt; vertical-align: top;">(1)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>In accordance with Rule 416(a) under the Securities Act of 1933, as amended (&#8220;<font style="font-weight: bold;">Securities Act</font>&#8221;), this registration statement shall be deemed to cover such indeterminate number of Ordinary Shares as may be offered or issued to prevent dilution resulting from stock splits, stock dividends, or similar
                transactions pursuant to the terms of the CyberArk Software Ltd. 2020 Employee Share Purchase Plan (the &#8220;2020 ESPP&#8221;).</div>
            </td>
          </tr>

      </table>
      <div style="text-align: justify; text-indent: -17.65pt; margin-left: 32.85pt; line-height: 1.25;">&#160;</div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 15.2pt;"><br>
            </td>
            <td style="width: 20.8pt; vertical-align: top;">(2)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Represents 200,000 Ordinary Shares added to the 2020 ESPP, representing an automatic increase effective as of January 1, 2023, pursuant to the 2020 ESPP.</div>
            </td>
          </tr>

      </table>
      <div style="text-align: justify; text-indent: -17.65pt; margin-left: 32.85pt; line-height: 1.25;">&#160;</div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 15.2pt;"><br>
            </td>
            <td style="width: 20.8pt; vertical-align: top;">(3)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Estimated solely for the purpose of calculating the registration fee pursuant to Rules 457(c) and 457(h)(1) of the Securities Act and based upon the average of the
                high and low prices ($147.65 and $143.16) of the Ordinary Shares as reported on the Nasdaq Global Select Market on February 24, 2023.</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div class="BRPFPageFooter">
        <div style="line-height: 1.25;">
          <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"></div>
      </div>
    </div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>image0.jpg
<TEXT>
begin 644 image0.jpg
M_]C_X  02D9)1@ ! 0$ D "0  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !C ET# 2(  A$! Q$!_\0
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M^=/^$Y\7?]!2Z_[X'^%'_"<^+O\ H*77_? _PH ^BZ*^=/\ A.?%W_04NO\
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M?]!2Z_[X'^%'_"<^+O\ H*77_? _PH ^BZ*^=/\ A.?%W_04NO\ O@?X4?\
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MOM-O_P ]XO\ OL4?:;?_ )[Q?]]B@"6BHOM-O_SWB_[[%'VFW_Y[Q?\ ?8H
MEHJ+[3;_ //>+_OL4?:;?_GO%_WV* ):*B^TV_\ SWB_[[%'VFW_ .>\7_?8
MH EHJ+[3;_\ />+_ +[%'VFW_P">\7_?8H EHJ+[3;_\]XO^^Q1]IM_^>\7_
M 'V* ):*B^TV_P#SWB_[[%'VFW_Y[Q?]]B@"6BHOM-O_ ,]XO^^Q1]IM_P#G
MO%_WV* ):*B^TV__ #WB_P"^Q1]IM_\ GO%_WV* ):*B^TV__/>+_OL4?:;?
M_GO%_P!]B@"6BHOM-O\ \]XO^^Q2K<0LP59HR3T 84 24444 %%%% !1110
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M%_SS3\J/(B_YYI^5244 1^1%_P \T_*CR(O^>:?E4E% $?D1?\\T_*CR(O\
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MJ1G< ?05W3*KJ5=0RGJ"*38FS9M7;_=QQ0!R&MV,FG>!IH(X5@E>YARD=P[
M[ID&-YY (X-6;ZV?3-$TR%$^SM_:5N'2.9G',HR-QY(-=.RAAA@"/0B@J&Z@
M'!SS0!R=Y)9R>++J/6KIH8X8X6L4:9HU;.=Q&"-QW8'Y>M0:L;=_'\:7DT"P
MI:PLHFN6CPWF/]T X8\#K[5V31HY!=%8KR"1G%->"&1@SQ(S#H2H)% '*ZM(
MEIXOM9YIUNA(\,26HF*R6[$D;U0<,ISDYZ 5UU-,:&02%%+CHV.:=0 4444
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MWK(UQ( '94"YP,9P.]4J .W\+W8L? 'B2X-M;W(6>W_=7"ED.3W (JY?3?\
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ML6BVULT31S16Z AU(&<=/\:JZE;7MUX>C%RH>[4!GC1-RNV",8!]3G\*WJ*
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MX0GPS_T!+/\ []BC_A"?#/\ T!+/_OV* /G'=!_SS?\ [[_^M1N@_P">;_\
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M]HO^_9_QJQ10!7V7?_/:+_OV?\:-EW_SVB_[]G_&K%% %?9=_P#/:+_OV?\
M&F/;W$IC$DR;5</A4P3@Y]:MT4 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
#'__9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
