| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | GWRE | Common Stock | Award | $0 | +27.5K | +70.69% | $0.00 | 66.5K | Sep 15, 2022 | Direct | |
| transaction | GWRE | Common Stock | Options Exercise | $0 | +380 | +0.57% | $0.00 | 66.9K | Sep 15, 2022 | Direct | |
| transaction | GWRE | Common Stock | Options Exercise | $0 | +342 | +0.51% | $0.00 | 67.2K | Sep 15, 2022 | Direct | |
| transaction | GWRE | Common Stock | Options Exercise | $0 | +3.87K | +5.76% | $0.00 | 71.1K | Sep 15, 2022 | Direct | |
| transaction | GWRE | Common Stock | Options Exercise | $0 | +2.61K | +3.67% | $0.00 | 73.7K | Sep 15, 2022 | Direct | |
| transaction | GWRE | Common Stock | Options Exercise | $0 | +3.82K | +5.19% | $0.00 | 77.5K | Sep 15, 2022 | Direct | |
| transaction | GWRE | Common Stock | Sale | -$465K | -7.4K | -9.55% | $62.82 | 70.1K | Sep 19, 2022 | Direct | F1, F2 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | GWRE | Performance Shares | Award | $0 | +27.5K | $0.00 | 27.5K | Sep 15, 2022 | Common Stock | 27.5K | $0.00 | Direct | F3 | |
| transaction | GWRE | Performance Shares | Options Exercise | $0 | -380 | -100% | $0.00* | 0 | Sep 15, 2022 | Common Stock | 380 | $0.00 | Direct | F4 |
| transaction | GWRE | Performance Shares | Options Exercise | $0 | -342 | -20.01% | $0.00 | 1.37K | Sep 15, 2022 | Common Stock | 342 | $0.00 | Direct | F5 |
| transaction | GWRE | Performance Shares | Options Exercise | $0 | -3.87K | -100% | $0.00* | 0 | Sep 15, 2022 | Common Stock | 3.87K | $0.00 | Direct | F6 |
| transaction | GWRE | Performance Shares | Options Exercise | $0 | -2.61K | -20.51% | $0.00 | 10.1K | Sep 15, 2022 | Common Stock | 2.61K | Direct | F7, F8 | |
| transaction | GWRE | Performance Shares | Options Exercise | $0 | -3.82K | -18.32% | $0.00 | 17K | Sep 15, 2022 | Common Stock | 3.82K | $0.00 | Direct | F9 |
| Id | Content |
|---|---|
| F1 | Shares sold by Issuer to cover taxes associated with settlement of Restricted Stock Units. |
| F2 | The sale price reported in column 4 of Table 1 represents the average sale price of the shares sold ranging from $62.8187 to $62.8210 per share. The reporting person will provide, upon request by the Commission staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price. |
| F3 | At the end of Year 1, 50% of the PSU award will be determined based on performance against the FY23 ARR targets. 33% will vest immediately, 33% will vest at end of Year 2, and 33% will vest at end of Year 3. At the end of Year 3, 50% of the PSU award will be determined based on performance against the FY25 ARR targets. 100% will vest immediately. |
| F4 | On September 12, 2018, the Reporting Person was granted a target of 5,400 shares covered by restricted stock units with performance- and time-based vesting requirements. On September 6, 2019, the Compensation Committee of the Board of Directors determined that 112.5% of the performance-based conditions were met resulting in an additional 673 shares earned by the Reporting Person. The time-based vesting is: 1/4th on September 15, 2019, and 1/16th quarterly thereafter, subject to the Reporting Person's continued service to the Issuer. |
| F5 | On September 6, 2019, the Reporting Person was granted a target of 7,500 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 2,025 shares earned by the Reporting Person. The time-based vesting is: 1/4th vest on September 15, 2020, and 1/16th of the units vest quarterly thereafter, subject to the Reporting Person's continued service to the Issuer. |
| F6 | Each Performance Restricted Stock Unit ("TSR") represents a contingent right to receive one share of the Issuer's common stock. Between 0% to 125% (incorrectly previously reported as 110%) of the reported target number of TSRs may be earned, based on the Company's total shareholder return percentile ranking relative to the software companies in a peer industry index for a three-year cumulative performance period commencing August 1, 2019, and ending July 31, 2022 (the "TSR Performance Measurement Period"). All earned TSRs will vest at the end of the TSR Performance Measurement Period. On September 7, 2022, the Compensation Committee of the Board of Directors determined that 77.38% of the performance-based conditions were met resulting in a decrease of 1,131 shares earned by the Reporting Person. |
| F7 | Each restricted stock unit or performance stock unit represents a contingent right to receive one share of the Issuer's common stock. |
| F8 | These performance stock units are split in two halves, with vesting of each subject to the satisfaction of both performance- and time-based conditions. Performance-based conditions will be satisfied if financial targets, determined by the Issuer, are met for fiscal year 2021 for the first half and fiscal year 2023 for the second half. If the performance-based conditions for fiscal year 2021 are achieved, then the first half will vest based on performance with the following timing: 16.6% will vest on each of September 15, 2021, September 15, 2022, and September 15, 2023, subject to the Reporting Person's continued service to the Issuer. The second half will vest on September 15, 2023 based on achievement under the performance-based conditions for fiscal year 2023, subject to the Reporting Person's continued service to the Issuer. |
| F9 | At the end of Year 1, 50% of this Performance Stock Unit ("PSU") award will be determined based on performance against fiscal year 2022 financial targets, with the following vesting schedule: 33% vesting immediately, 33% vesting at end of Year 2, and 33% vesting at end of Year 3. On September 7, 2022, the Compensation Committee of the Board of Directors determined that 122% of the performance-based conditions were met resulting in an increase of 2,067 shares earned by the Reporting Person. At the end of Year 3, 50% of the PSU award will be determined based on performance against fiscal year 2024 financial targets, with the following vesting schedule: 100% vesting immediately. |