Form 4: Guidewire CEO Michael Rosenbaum Sells 1,400 Shares Under 10b5-1 Trading Plan

Guidewire Software CEO Michael Rosenbaum sold 1,400 shares of common stock at $174.78 per share on January 15, 2025, under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Rosenbaum, CEO of Guidewire Software, sold 1,400 shares of common stock on January 15, 2025.
• The sale was executed at a price of $174.78 per share.
• This transaction was conducted under a pre-established 10b5-1 trading plan.
• The trading plan was adopted by Mr. Rosenbaum on October 15, 2024.
• Following the sale, Mr. Rosenbaum still directly owns 280,330 shares of Guidewire stock.

Sentiment

Score: 5

Explanation: The document reflects a routine insider sale under a pre-arranged plan, which is neither positive nor negative in itself. It's a neutral event.

Risks

• Sales by insiders, even under pre-arranged plans, can sometimes be perceived negatively by the market.

Industry Context

Insider sales are a common occurrence, especially under pre-arranged trading plans like 10b5-1, and are often not indicative of a change in the company's outlook. It is important to consider the context of the sale, such as the size of the transaction relative to the insider's holdings and the overall market conditions.

Comparison to Industry Standards

• Sales by executives under 10b5-1 plans are a common practice across the tech industry, including companies like Salesforce (CRM) and Adobe (ADBE).
• The size of this transaction is relatively small compared to the total holdings of the CEO, which is typical for these types of sales.
• The price of $174.78 is within the normal trading range for GWRE stock.

Stakeholder Impact

• The sale is unlikely to have a significant impact on shareholders, employees, customers, or suppliers as it is a routine transaction under a pre-arranged plan.

Key Dates

Keywords

Guidewire, GWRE, Michael Rosenbaum, insider trading, 10b5-1 plan, stock sale, executive, SEC Form 4