Varonis Systems Inc. 8-K Summary
Business Context and Reporting Period
This Form 8-K Current Report was filed by Varonis Systems, Inc. on February 26, 2015. The report addresses a change in the composition of the Company's Board of Directors.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance changes and does not contain financial performance data.
Material Changes
- Board Resignation: Mr. Erez Shachar resigned as a member of the Board of Directors effective February 26, 2015. The resignation was not due to any disagreement with the Company, the Board, or management.
- Board Election: Mr. Ofer Segev was elected to fill the resulting vacancy as a Class I director, effective February 26, 2015.
- Committee Appointment: Mr. Segev was appointed to the Audit Committee, replacing Mr. Shachar.
Outlook, Risks, and Management Commentary
Mr. Segev will serve until the Company's 2015 Annual Meeting of Stockholders or until his resignation or death, if earlier. He will be considered for election by stockholders at the 2015 Annual Meeting. The filing confirms no family relationships between Mr. Segev and other officers or directors, and no material transactions involving Mr. Segev since the beginning of the last fiscal year.
Key Facts for Investor Verification
- Confirm Mr. Ofer Segev's background as CFO of AudioCodes Limited and former CEO of Ness Technologies.
- Verify the date of the 2015 Annual Meeting of Stockholders to determine the end of Mr. Segev's interim term.
- Review the Company's subsequent proxy statement for the formal election of Mr. Segev as a Class I director.