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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1361113	Varonis Systems Inc	VRNS	Services-Prepackaged Software (7372)	571222280

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1601099	Erez Shachar	C/O Evergreen Venture Partners 25 Habarzel St. Tel-Aviv L3 69710		Yes	No	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock, Par Value $0.001 Per Share	Acquisiton	2014-03-05	4,391,279	$0.00	4,391,279	No	4	C	Indirect	Directly owned by Evergreen IV, L.P. See Explanation of Response
Common Stock, Par Value $0.001 Per Share	Disposition	2014-03-05	219,564	$0.00	4,171,715	No	4	S	Indirect	Directly owned by Evergreen IV, L.P. See Explanation of Response

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	C	Indirect	Directly owned by Evergreen IV, L.P. See Explanation of Response
No	4	S	Indirect	Directly owned by Evergreen IV, L.P. See Explanation of Response

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Series A Convertible Preferred Stock	Disposition	2014-03-05	2,281,296	$0.00	2,281,296	$0.00
Common Stock	Series B Convertible Preferred Stock	Disposition	2014-03-05	1,256,282	$0.00	1,256,282	$0.00
Common Stock	Series C Convertible Preferred Stock	Disposition	2014-03-05	575,020	$0.00	575,020	$0.00
Common Stock	Series D Convertible Preferred Stock	Disposition	2014-03-05	278,681	$0.00	278,681	$0.00

Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
No	4	C	Indirect
No	4	C	Indirect
No	4	C	Indirect
No	4	C	Indirect

Footnotes

The Issuer's Series A Convertible Preferred Stock, Series B Convertible Preferred Stock, Series C Convertible Preferred Stock and Series D Convertible Preferred Stock (together, the "Preferred Stock") have no expiration date and each share of the Preferred Stock converted automatically on a 1-for-1 basis into shares of the Issuer's Common Stock (the "Common Stock") immediately prior to the completion of the Issuer's underwritten initial public offering (the "IPO") without payment of further consideration.
Represents shares directly held by Evergreen IV, L.P., the general partner of which is Evergreen IV GP, L.P., and the general partner of which is Evergreen E.P.F IV Ltd. The Reporting Person is one of the seven individual members of the investment committee of Evergreen IV, L.P.
The Reporting Person disclaims beneficial ownership of the securities, except to the extent of such Reporting Person's pecuniary interest therein, if any.
Represents (i) the conversion of 4,391,279 shares of Preferred Stock of the Issuer automatically converted into shares of Common Stock immediately prior to the closing of the Issuer's IPO and (ii) the sale by Evergreen IV, L.P. of 219,564 shares of Common Stock to the underwriters in connection with the IPO pursuant to the Issuer's Registration Statement on Form S-1 (No. 333-191840).