Form 8-K - Current report
27 February 2024 - 1:00AM
Edgar (US Regulatory)
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0001361113
0001361113
2024-02-21
2024-02-21
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 21, 2024
VARONIS SYSTEMS, INC.
(Exact Name of Registrant as Specified in its Charter)
Delaware |
|
001-36324 |
|
57-1222280 |
(State or Other Jurisdiction of Incorporation) |
|
(Commission File Number) |
|
(IRS Employer Identification No.) |
1250 Broadway, 28th Floor
New York, NY |
|
10001 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
(877) 292-8767
(Registrant’s telephone number, including area code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
Common Stock, par value $0.001 per share |
VRNS |
The NASDAQ Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule
405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2
of this chapter).
Emerging growth company ☐
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 13(a)
of the Exchange Act. ☐
Item 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officer.
On February 21, 2024, as a result of
the continued growth of Varonis Systems, Inc. (the "Company" or "Varonis"), James O'Boyle was appointed as Vice Chairman
- Sales and will now be principally responsible for growth and management of strategic customer accounts, partnership relationships and
channel development. In connection with this change, Greg Pomeroy, the current Vice President of Sales - North America, was appointed
as Senior Vice President - Worldwide Sales and in addition to his current responsibilities will now also lead sales operations in additional
markets around the world.
Item 7.01. Regulation FD Disclosure.
The Company is reaffirming its first quarter 2024 and full-year 2024 guidance previously issued
on February 5, 2024.
Forward-Looking Statements
This Current Report on Form 8-K contains "forward-looking" statements, which are subject
to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including regarding the Company's growth rate and
its expectations regarding future revenues, operating income or loss or earnings or loss per share. These statements are not guarantees
of future performance but are based on management's expectations as of the date of this Report and assumptions that are inherently subject
to uncertainties, risks and changes in circumstances that are difficult to predict. Forward-looking statements involve known and unknown
risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any
future results, performance or achievements. Important factors that could cause actual results to differ materially from those expressed
or implied by these forward-looking statements include the following: the impact of potential information technology, cybersecurity or
data security breaches; risks associated with anticipated growth in Varonis’ addressable market; general economic and industry conditions,
such as foreign currency exchange rate fluctuations and expenditure trends for data and cybersecurity solutions; Varonis’ ability
to predict the timing and rate of subscription renewals and their impact on the Company’s future revenues and operating results;
risks associated with international operations; the impact of global conflicts on the budgets of our clients and on economic conditions
generally; competitive factors, including increased sales cycle time, changes in the competitive environment, pricing changes and increased
competition; the risk that Varonis may not be able to attract or retain employees, including sales personnel and engineers; Varonis’
ability to build and expand its direct sales efforts and reseller distribution channels; risks associated with the closing of large transactions,
including Varonis’ ability to close large transactions consistently on a quarterly basis; new product introductions and Varonis’
ability to develop and deliver innovative products; Varonis’ ability to provide high-quality service and support offerings; the
expansion of cloud-delivered services; and risks associated with our convertible notes and capped-call transaction. These and other important
risk factors are described more fully in Varonis’ reports and other documents filed with the Securities and Exchange Commission
and could cause actual results to vary from expectations. All information provided in this Report is as of the date hereof, and Varonis
undertakes no duty to update or revise this information, whether as a result of new information, new developments or otherwise, except
as required by law.
The information in this Report is furnished only, is not
"filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities
of that section, and is not incorporated by reference into any filing under the Securities Act of 1933, as amended, regardless of any
general incorporation language in such a filing, except as expressly set forth by specific reference in that filing.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
VARONIS SYSTEMS, INC. |
|
|
|
|
Dated: February 26, 2024 |
By: /s/ Guy Melamed |
|
Name: Guy Melamed |
|
Title: Chief Financial Officer and Chief Operating Officer |
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Feb. 21, 2024 |
Cover [Abstract] |
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Document Type |
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Document Period End Date |
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Entity File Number |
001-36324
|
Entity Registrant Name |
VARONIS SYSTEMS, INC.
|
Entity Central Index Key |
0001361113
|
Entity Tax Identification Number |
57-1222280
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
1250 Broadway
|
Entity Address, Address Line Two |
28th Floor
|
Entity Address, City or Town |
New York
|
Entity Address, State or Province |
NY
|
Entity Address, Postal Zip Code |
10001
|
City Area Code |
(877)
|
Local Phone Number |
292-8767
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Title of 12(b) Security |
Common Stock, par value $0.001 per share
|
Trading Symbol |
VRNS
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Security Exchange Name |
NASDAQ
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