SCHEDULE: Morgan Stanley Adjusts Radware Stake Disclosure

Morgan Stanley and its subsidiary report a decrease in beneficial ownership of Radware Ltd. ordinary shares, falling below the 5% threshold.

Summary

• Morgan Stanley and Morgan Stanley Capital Services LLC have filed an amended Schedule 13G, indicating a reduction in their beneficial ownership of Radware Ltd. ordinary shares.
• As of September 30, 2026, Morgan Stanley no longer beneficially owns more than five percent of Radware Ltd.'s outstanding shares.
• Morgan Stanley Capital Services LLC also no longer beneficially owns more than five percent of Radware Ltd.'s outstanding shares.
• The filing indicates that Morgan Stanley Capital Services LLC is a wholly-owned subsidiary of Morgan Stanley.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this as a neutral filing, primarily indicating a change in reporting status rather than a significant event for Radware Ltd. itself.

Positives

• The filing clarifies the reporting status of Morgan Stanley and its subsidiary regarding their holdings in Radware Ltd.
• The reduction in ownership suggests a potential rebalancing of investment portfolios by Morgan Stanley.

Negatives

• The filing indicates a decrease in the beneficial ownership stake of significant entities, which could be interpreted as reduced conviction by these entities in Radware Ltd.'s immediate prospects.
• Morgan Stanley Capital Services LLC's beneficial ownership decreased to 1.6%.

Risks

• While not explicitly stated as a risk, a significant reduction in holdings by major financial institutions could signal underlying concerns about the company's future performance or market position.

Future Outlook

The filing itself does not contain forward-looking statements or guidance from Radware Ltd. It only reflects the current ownership status of Morgan Stanley and its subsidiary.

Management Comments

• Morgan Stanley and Morgan Stanley Capital Services LLC certify that the securities were acquired and are held in the ordinary course of business and were not acquired or held for the purpose of or with the effect of changing or influencing the control of the issuer.

Industry Context

StockSavvy.ai notes that Schedule 13G filings are routine disclosures for institutional investors crossing ownership thresholds. The reduction in stake by Morgan Stanley and its subsidiary, while noted, does not inherently signal a negative outlook for Radware Ltd. within the cybersecurity industry, but rather reflects portfolio management decisions by the financial institution.

Stakeholder Impact

• Shareholders: The reduction in ownership by Morgan Stanley and its subsidiary may lead to questions about their continued confidence in the company, potentially influencing market sentiment, though the filing states the shares were not acquired to influence control.

Next Steps

• Morgan Stanley and Morgan Stanley Capital Services LLC will continue to monitor their beneficial ownership levels in Radware Ltd. and file amendments as required by SEC regulations.

Key Dates

Keywords

Radware Ltd, Schedule 13G, Morgan Stanley, Beneficial Ownership, Securities Filing, Ordinary Shares, Investment Holding