The sales follow non-cash derivative exercises and are likely part of a pre-arranged 10b5-1 plan or routine post-vesting diversification. Monitor next 10-Q for any change in insider selling patterns or guidance revisions.
Price Chart
Executive Summary
CEO Michael Rosenbaum and President John Mullen sold a combined $16.18M in open-market sales at $144.47/share on September 17, 2026. This follows a cluster of non-cash derivative exercises by the same executives and other officers on September 15, suggesting a routine post-vesting liquidation pattern rather than a reaction to new material adverse information. The total sales represent approximately 0.08% of Guidewire's ~$20B market cap, falling below the 0.1% materiality threshold.
Key Financial Metrics
Key Facts
- CEO Michael Rosenbaum sold 72,300 shares for $10.44M on September 17, 2026.
- President John Mullen sold 39,700 shares for $5.73M on September 17, 2026.
- Both sales occurred at $144.47 per share, the same price, indicating a single trading session.
- On September 15, 2026, Rosenbaum, Mullen, CFO Cooper, CAO King, and CAO Peterson exercised derivatives for zero cost (non-cash events).
- Total open-market sales of $16.18M represent ~0.08% of Guidewire's estimated $20B market cap.
- The derivative exercises and sales are consistent with a routine post-vesting liquidation pattern.
Financial Impact
Sales of $16.18M represent ~0.08% of market cap — trivial and routine.
Risk Factors
- No material risk identified from this insider activity.
- If future open-market sales by C-suite exceed 0.1% of market cap without a 10b5-1 plan, that would warrant a more bearish read.
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-GWRE-1790025804691 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | 144 | $183.96 | awaiting T+60 | — | $183.96 (+0.00%) |
Oct 26, 2026 today | Insider Cluster | $183.96 | awaiting T+60 | — | $183.96 (+0.00%) |
Oct 26, 2026 today | 144 | $188.09 | awaiting T+60 | — | $183.96 (−2.20%) |
Oct 20, 2026 6d ago | Insider Cluster | $181.90 | awaiting T+60 | — | $183.96 (−1.13%) |
Oct 19, 2026 7d ago | 144 | $183.58 | awaiting T+60 | — | $183.96 (+0.21%) |
Oct 13, 2026 13d ago | Insider Cluster | $165.78 | awaiting T+60 | — | $183.96 (−10.97%) |
Oct 9, 2026 17d ago | 144 | $164.74 | awaiting T+60 | — | $183.96 (+11.67%) |
Sep 21, 2026 5w ago | Insider Cluster | $150.46 | awaiting T+60 | — | $183.96 (+22.27%) |
Sep 17, 2026 5w ago | 144 | $144.29 | awaiting T+60 | — | $183.96 (+27.49%) |
Sep 1, 2026 7w ago | Insider Cluster | $192.76 | awaiting T+60 | — | $183.96 (−4.57%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers