John P. Mullen - Sep 13, 2023 Form 4 Insider Report for Guidewire Software, Inc. (GWRE)

Signature
By: Winston King, Attorney-in-Fact for John P. Mullen
Stock symbol
GWRE
Transactions as of
Sep 13, 2023
Transactions value $
$0
Form type
4
Date filed
9/15/2023, 05:58 PM
Previous filing
Jun 20, 2023
Next filing
Sep 20, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GWRE Common Stock Award $0 +31.9K +25% $0.00 159K Sep 13, 2023 Direct
transaction GWRE Common Stock Options Exercise $0 +4.09K +2.56% $0.00 163K Sep 15, 2023 Direct

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 Award $0 +31.9K $0.00 31.9K Sep 13, 2023 Common Stock 31.9K $0.00 Direct F1
transaction GWRE Performance Shares Options Exercise $0 -4.09K -16.81% $0.00 20.2K Sep 15, 2023 Common Stock 4.09K $0.00 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These PSUs cliff vest at the end of the three-year performance period based on the average performance of the three one-year performance periods. One-year financial targets for each of the three performance measurement periods were set on the grant date.
F2 At the end of Year 1, as to 50% of this PSU award (Part 1), the Compensation Committee of the Board of Directors determined, on September 15, 2023, that 101.8% of the performance conditions against the FY23 ARR targets were met resulting in an increase of 216 PSUs earned by the Reporting Person. 33% of Part 1 vested immediately thereafter. 33% of Part 1 will vest at the end of Year 2, and 33% of Part 1 will vest at the end of Year 3. At the end of Year 3, 50% of the PSU award (Part 2) will be determined based on performance against the FY25 ARR targets.