FORM 4 [X] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response...
0.5                       
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

O'Reilly Kevin
2. Issuer Name and Ticker or Trading Symbol

VARIAN MEDICAL SYSTEMS INC [ VAR ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
SVP, President of Oncology Sys
(Last)          (First)          (Middle)

3100 HANSEN WAY
3. Date of Earliest Transaction (MM/DD/YYYY)

4/15/2021
(Street)

PALO ALTO, CA 94304
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 4/15/2021  D  1556 (1)D (2)0 D  

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Non Qualified Stock Option (Right to Buy) $64.68 4/15/2021  D     2587   (3)2/8/2025 Common Stock 2587 $112.82 (3)0 D  
Non Qualified Stock Option (Right to Buy) $45.73 4/15/2021  D     6859   (4)2/14/2026 Common Stock 6859 $131.77 (4)0 D  
Non Qualified Stock Option (Right to Buy) $30.59 4/15/2021  D     7846   (5)2/13/2027 Common Stock 7846 $146.91 (5)0 D  
Restricted Stock Units  (6)4/15/2021  D     506   (7) (7)Common Stock 506  (7)0 D  
Restricted Stock Units  (6)4/15/2021  D     1059   (8) (8)Common Stock 1059  (8)0 D  
Performance Shares  (9)4/15/2021  D     1711   (10) (10)Common Stock 1711  (10)0 D  
Restricted Stock Units  (6)4/15/2021  D     6340   (11) (11)Common Stock 6340  (11)0 D  
Performance Shares  (9)4/15/2021  D     1641   (12) (12)Common Stock 1641  (12)0 D  

Explanation of Responses:
(1) Amount of securities disposed of reflect 74 shares purchased on April 8, 2021 and 86 shares purchased on October 30, 2020 under the Varian Medical Systems, Inc. Employee Stock Purchase Plan.
(2) Disposed of pursuant to merger agreement (the "Merger Agreement") between issuer and Siemens Healthineers I GmbH and certain other parties in exchange for a cash payment of $177.50 per share of common stock.
(3) Pursuant to the Merger Agreement, these options, which provided for vesting of one third on 2/8/2019, and the remaining shares in 24 equal installments over the 24 months following, were cancelled in exchange for a cash payment representing the difference between $177.50 and the exercise price of each share of underlying common stock.
(4) Pursuant to the Merger Agreement, these options, which provided for vesting of one third on 2/14/2020, and the remaining shares in 24 equal installments over the 24 months following, were canceled in exchange for a cash award representing the difference between $177.50 and the exercise price of the option of the underlying common stock.
(5) Pursuant to the Merger Agreement, these options, which provided for vesting of one third on 2/13/2021, and the remaining shares in 24 equal installments over the 24 months following, were cancelled in exchange for a cash payment representing the difference between $177.50 and the exercise price of each share of underlying common stock.
(6) Each restricted stock unit represents a contingent right to receive one share of VAR common stock.
(7) Pursuant to the Merger Agreement, these restricted stock units, which provided for vesting in three equal annual installments beginning February 14, 2020, were cancelled in exchange for a cash payment of $177.50 per unvested share of underlying common stock.
(8) Pursuant to the Merger Agreement, these restricted stock units, which provided for vesting in three equal annual installments beginning February 15, 2021, were cancelled in exchange for a cash payment of $177.50 per unvested share of underlying common stock.
(9) Each performance stock unit represents a contingent right to receive one share of VAR common stock.
(10) Pursuant to the Merger Agreement, these performance stock units, which were granted November 15, 2018, were cancelled in exchange for a cash payment of $177.50 per share of underlying common stock and applicable performance conditions were deemed to be achieved at the target performance level.
(11) Pursuant to the Merger Agreement, these restricted stock units, which provided for vesting in three equal annual installments beginning November 15, 2021, were cancelled in exchange for a cash award equal to $177.50 per unvested share of underlying common stock that will vest and pay out according to the same schedule.
(12) Pursuant to the Merger Agreement, these performance stock units, which were granted November 21, 2019, were cancelled in exchange for a cash payment of $177.50 per share of underlying common stock and applicable performance conditions were deemed to be achieved at the target performance level.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
O'Reilly Kevin
3100 HANSEN WAY
PALO ALTO, CA 94304


SVP, President of Oncology Sys

Signatures
/s/ Magnus Momsen, attorney-in-fact4/16/2021
**Signature of Reporting PersonDate

Varian Medical System (NYSE:VAR)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Varian Medical System Charts.
Varian Medical System (NYSE:VAR)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Varian Medical System Charts.