ODowd Frank E JR 4
4 · Guidewire Software, Inc. · Filed Sep 11, 2020
Insider Transaction Report
Form 4
ODowd Frank E JR
Chief Sales Officer
Transactions
- Award
Performance Shares
2020-09-09+11,705→ 11,705 total→ Common Stock (11,705 underlying) - Award
Restricted Stock Unit
2020-09-09+11,705→ 11,705 total→ Common Stock (11,705 underlying)
Footnotes (3)
- [F1]Each restricted stock unit or performance stock unit represents a contingent right to receive one share of the Issuer's common stock.
- [F2]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.
- [F3]The Restricted Stock Units vest as follows: 1/16th of the units vest quarterly commencing December 15, 2020, subject to the Reporting Person's continued service to the Issuer through each such vesting date.