Guidewire President Files Form 144 for $5.73M Routine Sell-to-Cover

Transaction Overview

On September 17, 2026, John P. Mullen, President of Guidewire Software, Inc. ($GWRE), filed a Form 144 notice for the proposed sale of 39,683 shares of common stock through Morgan Stanley Smith Barney LLC, with an aggregate market value of approximately $5,733,074.89 (~$144.47 per share).

Transaction Nature & Context

• Automatic Sell-to-Cover: According to the filing remarks, the planned sale consists entirely of automatic sell-to-cover transactions required to fulfill tax withholding obligations associated with the vesting of Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) on September 15, 2026.
• Vesting Scale: The underlying vestings totaled over 84,000 shares across several incentive grant tranches from 2022 to 2025, with the 39,683 shares representing the tax-withholding portion.
• Prior Discretionary/Other Sales: Over the past three months, Mr. Mullen completed sales of 16,200 shares on August 19, 2026 ($2,997,000) and 1,800 shares on August 25, 2026 ($339,228).

Market & Trading Assessment

• Dilution & Liquidity Impact: The 39,683 shares represent less than 0.05% of the 81,992,669 shares outstanding, presenting negligible market impact.
• Significance Evaluation: Because this proposed transaction is mandated by automatic tax withholding provisions under the company's equity compensation plan rather than a discretionary market exit, its predictive signaling value for company fundamentals is rated as Low.