SCHEDULE 13G: Legal & General Group Discloses Significant Stake in Radware Ltd.

Legal & General Group Plc and its affiliates have filed a Schedule 13G, revealing beneficial ownership of 5.4% of Radware Ltd.'s Ordinary Shares as of December 31, 2024.

Summary

• Legal & General Group Plc, a UK-based multinational financial services group, along with its various investment management subsidiaries, has disclosed beneficial ownership in Radware Ltd.
• As of December 31, 2024, Legal & General Group Plc beneficially owned 2,235,702 Ordinary Shares of Radware Ltd., representing 5.4% of the class.
• Legal & General Investment Management Ltd, a UK-regulated discretionary investment manager, beneficially owned 2,234,002 shares, equating to 5.3% of the class.
• LGIM Managers (Europe) Limited, an Irish-incorporated Super ManCo, reported beneficial ownership of 2,207,220 shares, also 5.3% of the class.
• Legal & General UCITS ETF Plc, an Irish-organized open-ended investment company, held 2,201,082 shares, representing 5.3% of the class.
• Legal & General Investment Management America Inc., a US-regulated investment manager, held a smaller stake of 1,700 shares, which rounds to 0% of the class.
• All reported shares are held with shared voting and shared dispositive power among the respective Legal & General entities.
• The filing indicates that the foreign regulatory schemes applicable to the financial institutions in the group are substantially comparable to those for functionally equivalent U.S. institutions.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not inherently convey positive or negative sentiment regarding the issuer's performance. The presence of a large institutional investor can be seen as a neutral to slightly positive signal.

Positives

• The disclosure of a significant stake by a major institutional investor like Legal & General Group Plc can be viewed positively by the market, indicating institutional confidence in Radware Ltd.

Future Outlook

This Schedule 13G filing is a disclosure of beneficial ownership and does not contain any forward-looking statements or guidance regarding Radware Ltd.'s future performance or outlook.

Management Comments

• Mary Ann Colledge, Head of Conduct Advisory for Legal & General Group Plc and its affiliates, certified that, to the best of her knowledge and belief, the information set forth in the statement is true, complete, and correct.
• Mary Ann Colledge also certified that the foreign regulatory scheme applicable to the financial institutions in the group is substantially comparable to the regulatory scheme applicable to functionally equivalent U.S. institutions, and undertook to furnish information to the Commission staff upon request that would otherwise be disclosed in a Schedule 13D.

Industry Context

This filing indicates a significant institutional investment in Radware Ltd., a cybersecurity and application delivery solutions provider. Such disclosures are common for large asset managers like Legal & General, reflecting their portfolio allocations and investment strategies within the technology and cybersecurity sectors. The 5% threshold for Schedule 13G filings highlights substantial, but passive, investment interest.

Stakeholder Impact

• Shareholders of Radware Ltd. will note that a significant portion of the company's shares are held by a major institutional investor group, which can influence trading liquidity and potentially provide a degree of stability to the stock.

Key Dates

Keywords

Radware Ltd., Legal & General Group Plc, Schedule 13G, Beneficial Ownership, Institutional Investor, Ordinary Shares, Investment Management, SEC Filing