<SEC-DOCUMENT>0001171843-21-001019.txt : 20210212
<SEC-HEADER>0001171843-21-001019.hdr.sgml : 20210212
<ACCEPTANCE-DATETIME>20210212210140
ACCESSION NUMBER:		0001171843-21-001019
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210204
FILED AS OF DATE:		20210212
DATE AS OF CHANGE:		20210212

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Faitelson Yakov
		CENTRAL INDEX KEY:			0001601074

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36324
		FILM NUMBER:		21631481

	MAIL ADDRESS:	
		STREET 1:		C/O VARONIS SYSTEMS, INC.
		STREET 2:		1250 BROADWAY, 31ST FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10001

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VARONIS SYSTEMS INC
		CENTRAL INDEX KEY:			0001361113
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				571222280
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1250 BROADWAY, 31ST FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10001
		BUSINESS PHONE:		877-292-8767

	MAIL ADDRESS:	
		STREET 1:		1250 BROADWAY, 31ST FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10001
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ownership.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2021-02-04</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001361113</issuerCik>
        <issuerName>VARONIS SYSTEMS INC</issuerName>
        <issuerTradingSymbol>VRNS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001601074</rptOwnerCik>
            <rptOwnerName>Faitelson Yakov</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O VARONIS SYSTEMS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>1250 BROADWAY, 29TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10001</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>CEO, President, Chairman</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $0.001 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2021-02-04</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
                <footnoteId id="F2"/>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>25434</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>187650</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $0.001 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2021-02-04</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F3"/>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>56648</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>244298</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $0.001 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2021-02-11</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F4"/>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>22497</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>266795</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Represents shares earned by the reporting person for no consideration under certain performance-vesting restricted stock units (the &quot;2019 PSUs&quot;), which were granted to the reporting person pursuant to the Issuer's 2013 Omnibus Equity Incentive Plan on February 14, 2019, as amended on June 25, 2019. The 2019 PSUs were earned subject to the satisfaction of certain target subscription revenue percentages for the 2020 fiscal year, the performance of which was certified by the Issuer's compensation committee on February 4, 2021. The 2019 PSUs shall vest on February 28, 2021, subject to continued employment through such date.</footnote>
        <footnote id="F2">Upon vesting and after all applicable tax withholding, the shares earned in respect of the 2019 PSUs will be placed in a trust account or otherwise retained by the Issuer and paid to the reporting person only on February 28, 2022, subject to continued employment through such date. The 2019 PSUs were granted as part of a three-tranche grant also containing performance-vesting restricted stock units with performance period for 2021 fiscal year, which may be earned and may vest based on the achievement of applicable performance targets for that period, subject to the same vesting and settlement terms.</footnote>
        <footnote id="F3">Represents shares earned by the reporting person for no consideration under certain performance-vesting restricted stock units (the &quot;2020 PSUs&quot;), which were granted to the reporting person pursuant to the Issuer's 2013 Omnibus Equity Incentive Plan on February 6, 2020. The 2020 PSUs were earned subject to the satisfaction of certain Annual Recurring Revenues goals for the 2020 fiscal year, the performance of which was certified by the Issuer's compensation committee on February 4, 2021. The 2020 PSUs shall vest on February 28, 2023, subject to continued employment through such date.</footnote>
        <footnote id="F4">Represents restricted stock units granted to the reporting person on February 11, 2021. Such restricted stock units will vest, and an equal number of shares of common stock will be deliverable to the reporting person, in four equal (annual) installments upon the last calendar day of the month of February beginning on February 28, 2022.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Yakov Faitelson</signatureName>
        <signatureDate>2021-02-12</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
