Form 4: Guidewire CEO Sells Shares Under Pre-Planned 10b5-1 Plan

Guidewire Software CEO Michael George Rosenbaum sold 1,400 shares of common stock for $261.28 per share as part of a pre-arranged 10b5-1 trading plan.

Summary

• Michael George Rosenbaum, Chief Executive Officer and Director of Guidewire Software, Inc. (GWRE), executed a sale of common stock.
• The transaction involved the disposition of 1,400 shares of common stock.
• The sale occurred on September 8, 2025, at a price of $261.28 per share.
• This transaction was an automatic sale pursuant to a Rule 10b5-1 trading plan, which was adopted by Mr. Rosenbaum on October 15, 2024.
• Following this reported transaction, Mr. Rosenbaum directly beneficially owns 221,868 shares of Guidewire Software common stock.

Sentiment

Score: 6

Explanation: The sale by the CEO was pre-planned under a 10b5-1 trading plan, which mitigates negative interpretations often associated with insider selling. The transaction occurred at a strong share price, indicating a favorable valuation for the sale.

Positives

• The sale was executed under a pre-arranged Rule 10b5-1 trading plan, indicating it was not based on new, non-public information and is a scheduled event.
• The transaction occurred at a strong share price of $261.28 per share.

Negatives

• Chief Executive Officer Michael George Rosenbaum reduced his direct beneficial ownership in the company by 1,400 shares.

Risks

• A reduction in insider ownership, even when pre-planned, can sometimes be interpreted by the market as a minor signal, though the 10b5-1 plan mitigates this concern.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: The reduction in insider ownership is minor and was pre-planned, which generally reduces concerns about management's confidence in the company's future.

Key Dates

Recommendation

The insider sale by the CEO was executed under a pre-arranged 10b5-1 plan, indicating it was not based on new material non-public information. While a reduction in insider ownership, the pre-planned nature and the relatively small number of shares sold compared to total holdings suggest this is a routine liquidity event rather than a signal of declining confidence. Therefore, the filing itself does not provide a strong basis for a change in investment recommendation.

Keywords

Guidewire Software, GWRE, Michael George Rosenbaum, Insider Trading, Form 4, Stock Sale, 10b5-1 Plan, CEO, Director