Michael George Rosenbaum - 15 Jun 2022 Form 4 Insider Report for Guidewire Software, Inc. (GWRE)

Role
Chief Executive Officer, Director
Signature
By: Winston King, Attorney-in-Fact for Michael George Rosenbaum
Issuer symbol
GWRE
Transactions as of
15 Jun 2022
Net transactions value
-$406,810
Form type
4
Filing time
17 Jun 2022, 18:20:14 UTC
Previous filing
18 Mar 2022
Next filing
19 Sep 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GWRE Common Stock Options Exercise $0 +2,555 +2% $0.000000 131,110 15 Jun 2022 Direct F1
transaction GWRE Common Stock Sale $406,810 -5,636 -4.3% $72.18 125,474 17 Jun 2022 Direct F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction GWRE Performance Shares Options Exercise $0 -2,555 -17% $0.000000 12,775 15 Jun 2022 Common Stock 2,555 $0.000000 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reported transaction involves the acquisition of vested performance shares. The Reporting Person previously reported certain prior awards of restricted stock units in Table II of Form 4. The total reported in Column 5 includes (i) 2,555 shares from performance shares that vested on 6/15/2022, and (ii) 46,656 restricted stock units previously reported in Table II.
F2 Shares sold by Issuer to cover taxes associated with settlement of Restricted Stock Units.
F3 On September 6, 2019, the Reporting Person was granted a target of 56,009 shares covered by restricted stock units with performance- and time-based vesting requirements. On September 9, 2020, the Compensation Committee of the Board of Directors determined that 73% of the performance-based conditions were met resulting in a reduction of 15,122 shares earned by the Reporting Person. The time-based vesting is: 1/4th on September 15, 2020, and 1/16th of the units vest quarterly thereafter subject to the Reporting Person's continued service to the Issuer.