[144] GUIDEWIRE SOFTWARE, INC. SEC Filing

Rhea-AI Filing Summary

Lockheed Martin (LMT) filed an Item 8.01 Form 8-K announcing completion of a $2.0 billion senior unsecured note offering. The issue is split into three tranches:

• $500 million of 4.150% notes maturing 15 Aug 2028
• $750 million of 4.400% notes maturing 15 Aug 2030
• $750 million of 5.000% notes maturing 15 Aug 2035

Interest on all series is paid semi-annually each 15 Feb and 15 Aug, starting 15 Feb 2026. The notes were sold via Citigroup, Crédit Agricole and J.P. Morgan under an effective S-3 shelf and are governed by the April 18 2023 indenture with U.S. Bank Trust Company. The company may redeem the notes early at make-whole premiums outlined in the prospectus supplement. Net proceeds are earmarked for general corporate purposes, which could include repayment of existing debt. No financial results or guidance were provided. Key exhibits include the underwriting agreement (Ex. 1.1) and forms of each series (Ex. 4.1-4.3).

Positive

• Maintains investment-grade market access at competitive coupons, reinforcing liquidity.
• Staggered maturities (2028-2035) reduce refinancing concentration risk.

Negative

• Higher coupon rates than existing debt will incrementally raise interest expense.
• Increases gross debt by $2 B, modestly elevating leverage until proceeds are applied to repayments.

Insights

Fixed Income Analyst

TL;DR: $2 B multi-tenor deal locks in mid-single-digit coupons; leverage up modestly, liquidity preserved.

The three-tranche structure staggers maturities (2028-2035), smoothing Lockheed’s debt ladder and limiting refinancing risk. Coupon levels sit roughly 80-100 bp over Treasuries of comparable tenor, reasonable for an A-rated defense prime in today’s curve. Proceeds labelled for “general corporate purposes” usually imply debt refinancing or pension funding, so incremental leverage impact may be limited. Covenants are standard investment-grade; unsecured ranking preserves capital-structure flexibility. Overall credit profile remains strong; impact on bondholders is neutral, with a small positive from liquidity reinforcement.

Equity Analyst

TL;DR: Routine debt raise; negligible EPS effect, signals continued access to capital markets.

$2 B equals ~2% of LMT’s market cap and ~13% of end-2024 net debt, so balance-sheet strain is mild. While coupons are above existing average cost (~3.2%), the staggered maturities enhance funding flexibility. Because proceeds are not tied to M&A or buybacks, immediate shareholder return is limited. Still, maintaining investment-grade pricing bolsters confidence in cash-flow durability—important given backlog-driven working-capital swings. For equity holders, the filing is broadly neutral.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	1400	313250.00	84195223	07/28/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	12/15/2021	Restricted Stock	ISSUER			1400	12/15/2021	Not Applicable

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
MIKE ROSENBAUM 970 Park Place, Suite 200 San Mateo CA 94403	Common	07/21/2025	105	23342.55
MIKE ROSENBAUM 970 Park Place, Suite 200 San Mateo CA 94403	Common	07/21/2025	1	222.31
MIKE ROSENBAUM 970 Park Place, Suite 200 San Mateo CA 94403	Common	07/21/2025	1294	287669.14
MIKE ROSENBAUM 970 Park Place, Suite 200 San Mateo CA 94403	Common	07/14/2025	1400	308910.00
MIKE ROSENBAUM 970 Park Place, Suite 200 San Mateo CA 94403	Common	07/07/2025	1400	322980.00
MIKE ROSENBAUM 970 Park Place, Suite 200 San Mateo CA 94403	Common	06/30/2025	339	80305.71
MIKE ROSENBAUM 970 Park Place, Suite 200 San Mateo CA 94403	Common	06/30/2025	1061	251340.29
MIKE ROSENBAUM 970 Park Place, Suite 200 San Mateo CA 94403	Common	06/23/2025	1400	333368.00
MIKE ROSENBAUM 970 Park Place, Suite 200 San Mateo CA 94403	Common	06/17/2025	5925	1474957.84
MIKE ROSENBAUM 970 Park Place, Suite 200 San Mateo CA 94403	Common	06/16/2025	1400	356342.00
MIKE ROSENBAUM 970 Park Place, Suite 200 San Mateo CA 94403	Common	06/09/2025	45	11542.50
MIKE ROSENBAUM 970 Park Place, Suite 200 San Mateo CA 94403	Common	06/09/2025	1355	347557.50
MIKE ROSENBAUM 970 Park Place, Suite 200 San Mateo CA 94403	Common	06/02/2025	1400	301490.00
MIKE ROSENBAUM 970 Park Place, Suite 200 San Mateo CA 94403	Common	05/27/2025	534	113218.68
MIKE ROSENBAUM 970 Park Place, Suite 200 San Mateo CA 94403	Common	05/27/2025	866	183609.32
MIKE ROSENBAUM 970 Park Place, Suite 200 San Mateo CA 94403	Common	05/19/2025	1000	215250.00
MIKE ROSENBAUM 970 Park Place, Suite 200 San Mateo CA 94403	Common	05/19/2025	400	86100.00
MIKE ROSENBAUM 970 Park Place, Suite 200 San Mateo CA 94403	Common	05/12/2025	1400	303114.00
MIKE ROSENBAUM 970 Park Place, Suite 200 San Mateo CA 94403	Common	05/05/2025	1400	291704.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How much debt did Lockheed Martin (LMT) issue on 28 Jul 2025?

The company issued $2.0 billion of senior unsecured notes across three maturities.

What are the interest rates and maturities of the new LMT notes?

4.150% due 2028, 4.400% due 2030, and 5.000% due 2035.

When will interest payments on the new Lockheed Martin notes begin?

Semi-annual payments start on 15 Feb 2026 and continue each 15 Feb and 15 Aug.

What will Lockheed Martin do with the $2 B proceeds?

Proceeds are for general corporate purposes, which may include repaying existing debt.

Can the new notes be redeemed early?

Yes. LMT may redeem any series in whole or in part at make-whole premiums described in the prospectus.