Guidewire (GWRE) CFO Jeffrey Cooper Converts 37,826 PSUs

What Happened

• Jeffrey Elliott Cooper, Guidewire's CFO, had 37,826 derivative awards converted into common shares on 2026-09-15 (Form 4 transaction code M). The Form 4 shows the shares acquired at $0.00 and an offsetting derivative disposition of 37,826 shares at $0.00. No cash proceeds are reported in the filing.
• A Compensation Committee determination on 2026-09-09 certified that performance conditions were met at 136%, which increased the number of PSUs earned by Cooper by 10,013. The time-based vesting requirement was met on 2026-09-15, which triggered the conversion.

Key Details

• Transaction date: 2026-09-15; Transaction type/code: Exercise/conversion of derivative (M); Price reported: $0.00.
• Shares converted/acquired: 37,826; an equal number (37,826) is also reported as disposed (derivative) in the same filing.
• Footnote: Performance shares cliff vested based on three-year performance; 136% of target achieved (adds 10,013 PSUs), and time-based vesting completed on 2026-09-15 (see F1).
• Shares owned after the transaction: Not disclosed in the provided filing summary.
• Filing timeliness: Reported on 2026-09-15 for a 2026-09-15 transaction — appears timely.

Context

• Code M indicates conversion/exercise of a derivative award (here, performance stock units converting to common stock). The filing lists both acquisition and a derivative disposition of the same share count; such paired entries commonly reflect settlement or internal offset mechanics (e.g., taxation or net settlement), but the Form 4 itself does not detail the specific settlement method.
• This is not an open-market buy or sale that signals a direct cash investment or proceeds; it documents awarded/vested equity converting into shares for the executive.