Key points
- Radware (RDWR) CFO Guy Avidan bought 2,000 ordinary shares at $25.21 on July 31, 2026, a purchase of $50,420.
- It is the only open-market purchase in Radware's entire Form 4 record, and that record begins April 2, 2026.
- Fourteen Radware insiders filed Form 3s between March 18 and March 26, 2026, the paperwork that starts Section 16 reporting.
- Four insider sales since May came to about $365,000, at prices from $29.00 to $32.00.
- RDWR fell 17.2% on July 29 after second quarter results that included record revenue of $82.3M.
A chief financial officer buying his own stock two days after it fell 17 percent is the kind of filing that gets tagged as a first purchase in twelve months. Radware (RDWR) insiders have only been filing these forms since the spring, and that changes what the tag is measuring.
Guy Avidan is Radware's chief financial officer. He bought 2,000 ordinary shares at $25.21 on July 31, and the Form 4 reached the SEC before Monday's opening bell, which is where our insider buying tracker picked it up. He paid $50,420 for them. His direct holding went from 93,800 shares to 95,800.
Radware's insider record begins on April 2
Open Radware's filing history on EDGAR and filter it for Form 4s, and ten come back. The oldest one carries the date April 2, 2026.
The week before that, fourteen Radware officers and directors filed Form 3s between March 18 and March 26. A Form 3 is the form an insider files once, on becoming subject to the rules in the first place. Fourteen people rarely take up insider roles in the same week at an established company, so what changed that week was the company's own status.
Radware is headquartered in Tel Aviv and had been treated as a foreign private issuer, a category the SEC exempts from the Section 16 rules that produce Form 4s. Once a company stops qualifying, its officers and directors all onboard together. His own Form 3 from March 26 reported 93,800 shares already in hand.
So he'd held the shares well before April, and the duty to tell anyone about them began in March. Those are two different dates, and here's why the gap matters: a screener measuring twelve months of purchases against a record four months long will report a first buy every single time it finds one.
What the ten filings contain
The record breaks down into one purchase and four sales. Four grants priced at zero and one transfer make up the rest. That's all of it, and it fits in a single table.
| Filed | Insider | Role | Type | Shares | Price |
|---|---|---|---|---|---|
| Aug 3 | Guy Avidan | CFO | Purchase | 2,000 | $25.21 |
| Jul 13 | Rivkah Goldriech | Chief People Officer | Sale | 750 | $32.00 |
| Jun 1 | Gabriel Malka | COO | Sale | 7,000 | $30.00 |
| May 27 | Rivkah Goldriech | Chief People Officer | Sale | 1,375 | $29.50 |
| May 27 | Roy Zisapel | President and CEO | Grant | 452,260 | $0 |
| May 27 | Israel Mazin, Alex Pinchev, Stanley Stern | Directors | Grants | 60,000 each | $0 |
| May 11 | Gabriel Malka | COO | Sale | 3,111 | $29.00 |
The four sales add up to 12,236 shares for about $365,000. Every one of them cleared at a higher price than Avidan paid on Friday. One also carries a footnote worth catching. Rivkah Goldriech's July 13 sale ran through what the filing describes as "a pre-arranged limit order instruction standing since February 4, 2026, which was established at a time when the reporting Person was not in possession of material non-public information." The price was set months before the stock ever reached it, so nobody picked that particular morning. Only that one sale comes with the explanation attached.
The drop he bought into
Radware reported second quarter results on July 29 and those are what set up the price he paid. Revenue reached a record $82.3 million, up 11 percent from a year earlier. Cloud annual recurring revenue crossed $103 million, up 22 percent. Non-GAAP diluted earnings from continuing operations came in at $0.30 a share. GAAP earnings came in at $0.09 and operating cash flow at $13.0 million. Chief executive Roy Zisapel called it "another strong quarter, highlighted by double-digit revenue growth, Cloud ARR exceeding $100 million, and continued momentum across our cloud security platform." The stock closed at $28.21 on July 28 and at $23.35 on July 29, a fall of 17.2 percent. Radware put its third quarter outlook on the earnings call, so the figure that moved the stock that day sits outside the written release entirely.
Avidan bought two sessions later at $25.21, which happened to be Friday's opening price to the cent. The stock closed that day at $26.19, so he's ahead about 3.9 percent on it already.
What the filing settles, and what it leaves open
The purchase settles three things about that week. Avidan used his own money. He paid less than two colleagues received for theirs. And he did it within two sessions of the worst day RDWR has had this year.
Size deserves the same plain treatment, and here the size is modest. At Friday's close his 95,800 shares were worth about $2.5 million, so a $50,420 purchase added 2.1 percent to what he already owned. That's a real purchase and a small one, and both halves of that sentence carry weight.
The public record on Avidan's own trading starts in March 2026. What he did with Radware stock in 2024 or 2025 sits outside it, because the disclosure rules reached him this spring. Anyone measuring this purchase against a multi-year pattern is really measuring it against four months.
For how these forms work in general, we wrote a walkthrough of reading a Form 4. On the broader question this one raises, there's also whether copying insider purchases actually works. Radware's filings as they land are on its RDWR filings page.
Sources
- Guy Avidan Form 4, filed August 3, 2026, accession 0001976408-26-000682
- Radware Ltd Form 4 filing history, SEC EDGAR, CIK 0001094366
- Radware Reports Second Quarter 2026 Financial Results, July 29, 2026
- Our insider buying tracker, updated as new filings land
- Price data via Yahoo Finance market data
- Cover image: Radware corporate logo, via Radware's media kit
This reflects public regulatory disclosures and market data, not investment advice. Jennifer Song does not hold positions in the securities discussed. Prices are as of the close on Friday, July 31, 2026, and will move. Always do your own research and consider speaking with a licensed financial professional before making any investment decision.
