  Although it is well-established that some extragalactic radio sources are
time-variable, the properties of this radio variability, and its connection
with host galaxy properties, remain to be explored---particularly for faint
sources. Here we present an analysis of radio variable sources from the CHILES
Variable and Explosive Radio Dynamic Evolution Survey (CHILES VERDES)---a
partner project of the 1.4 GHz COSMOS \ion{H}{1} Large Extragalactic Survey
(CHILES). CHILES VERDES provides an unprecedented combination of survey depth,
duration, and cadence, with 960 hrs of 1--2 GHz continuum VLA data obtained
over 209 epochs between 2013 and 2019 in a 0.44 deg$^2$ section of the
well-studied extragalactic deep field, COSMOS. We identified 18
moderate-variability sources (showing $10-30\%$ flux density variation) and 40
lower variability sources (2-10$\%$ flux density variation). They are mainly
active galactic nuclei (AGN) with radio luminosities in the range of
$10^{22}-10^{27}$ W Hz$^{-1}$ based on cross-matching with COSMOS
multi-wavelength catalogs. The moderate-variability sources span redshifts
$z=0.22-1.56$, have mostly flat radio spectra ($\alpha>-0.5$), and vary on
timescales ranging from days to years. Lower-variability sources have similar
properties, but have generally higher radio luminosities than the
moderate-variability sources, extend to $z = 2.8$, and have steeper radio
spectra ($\alpha<-0.5$). No star-forming galaxy showed statistically
significant variability in our analysis. The observed variability likely
originates from scintillation on short ($\sim$week) timescales, and
Doppler-boosted intrinsic AGN variability on long (month--year) timescales.
