Morgan Stanley units disclose 7.2% holding in RADWARE LTD (RDWR)

Rhea-AI Filing Summary

RADWARE LTD Schedule 13G/A amendment shows institutional reporting by Morgan Stanley entities disclosing shared voting and dispositive power over ordinary shares. The filing lists 3,052,188 shares tied to Morgan Stanley reporting units (shown as 7.2%) and 2,995,269 shares held by Morgan Stanley Capital Services LLC (shown as 7.1%).

The cover information clarifies the filing reflects securities beneficially owned or deemed beneficially owned by certain Morgan Stanley reporting units, and includes Exhibits 99.1 (Joint Filing Agreement) and 99.2 (Item 7 subsidiary information). Signatures are dated 05/12/2026.

Insights

Institutional Ownership Analyst

Morgan Stanley entities report >7% holdings in RADWARE LTD as of the amendment.

The amendment lists shared voting power of 3,046,745 and shared dispositive power of 3,052,188 for the Morgan Stanley reporting units, labeled as 7.2%. It separately shows Morgan Stanley Capital Services LLC with 2,995,269 shares (7.1%).

These figures come from the cover-page responses and the Item 4 ownership disclosure. Cash‑flow treatment or plans to transact are not included in the excerpt; subsequent filings would detail any transactions.

Corporate Governance Specialist

Filing is a standard Schedule 13G/A amendment documenting beneficial ownership by reporting units.

The filing invokes the January 12, 1998 Release, explaining aggregation across MS reporting units; it also references Exhibit 99.2 for subsidiary identification per Item 7. The signatures certify the amendment on 05/12/2026.

This amendment is disclosure-focused; it does not state changes in control or planned actions. Any governance implications depend on future disclosures or holdings changes reported in other filings.

Key Figures

Shares linked to Morgan Stanley reporting units: 3,052,188 shares Percent of class (Morgan Stanley reporting units): 7.2% Shares for Morgan Stanley Capital Services LLC: 2,995,269 shares +2 more

5 metrics

Shares linked to Morgan Stanley reporting units 3,052,188 shares shared dispositive power; listed on cover responses

Percent of class (Morgan Stanley reporting units) 7.2% Item 4(b) ownership percentage

Shares for Morgan Stanley Capital Services LLC 2,995,269 shares shared dispositive and voting power; cover entry

Percent of class (MS Capital Services LLC) 7.1% listed on cover responses

Shared voting power (MS reporting units) 3,046,745 shares cover-page voting power field

Key Terms

Schedule 13G/A, Reporting Units, Shared Dispositive Power, Exhibit 99.2

4 terms

Schedule 13G/A regulatory

"Item 1 and header showing the amended beneficial ownership filing"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Reporting Units regulatory

"In Accordance with the Release, this filing reflects the securities beneficially owned by certain operating units (the "MS Reporting Units")"

Shared Dispositive Power financial

"Cover-page fields list 'Shared Dispositive Power' with numerical share counts"

Exhibit 99.2 regulatory

"Item 7 references Exhibit 99.2 for identification and classification of the subsidiary"

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

RADWARE LTD

(Name of Issuer)

Ordinary Shares

(Title of Class of Securities)

M81873107

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): M81873107

1

Names of Reporting Persons

Morgan Stanley

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,046,745.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,052,188.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,052,188.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.2 %

12

Type of Reporting Person (See Instructions)

HC, CO

SCHEDULE 13G

CUSIP Number(s): M81873107

1

Names of Reporting Persons

Morgan Stanley Capital Services LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,995,269.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,995,269.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,995,269.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.1 %

12

Type of Reporting Person (See Instructions)

BD, CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: RADWARE LTD
(b)	Address of issuer's principal executive offices: 22 RAOUL WALLENBERG STREET, TEL AVIV, L3, 69710
Item 2.
(a)	Name of person filing: 1: Morgan Stanley 2: Morgan Stanley Capital Services LLC
(b)	Address or principal business office or, if none, residence: 1: 1585 Broadway, New York, NY 10036 ;2: 1585 Broadway, New York, NY 10036
(c)	Citizenship: 1: Delaware 2: Delaware
(d)	Title of class of securities: Ordinary Shares
(e)	CUSIP No.: M81873107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See the response(s) to Item 9 on the attached cover page(s).
(b)	Percent of class: 7.2 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s).
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s).
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s).
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s).
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99.2
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. * In Accordance with the Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the "Release"), this filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by certain operating units (collectively, the "MS Reporting Units") of Morgan Stanley and its subsidiaries and affiliates (collectively, "MS"). This filing does not reflect securities, if any, beneficially owned by any operating units of MS whose ownership of securities is disaggregated from that of the MS Reporting Units in accordance with the Release.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Morgan Stanley

Signature:	Claire Gordon
Name/Title:	Authorized Signatory, Morgan Stanley
Date:	05/12/2026

Morgan Stanley Capital Services LLC

Signature:	Claire Gordon
Name/Title:	Authorized Signatory, Morgan Stanley Capital Services LLC
Date:	05/12/2026

Exhibit Information

EXHIBIT NO. EXHIBITS ------------------ ------------------------------------ 99.1 Joint Filing Agreement 99.2 Item 7 Information * Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001).

FAQ

What ownership stake does Morgan Stanley report in RADWARE LTD (RDWR)?

The amendment shows Morgan Stanley reporting units with 3,052,188 shares, described as 7.2% of the class. The filing attributes shared voting power of 3,046,745 to those reporting units.

How many shares does Morgan Stanley Capital Services LLC report owning in RDWR?

Morgan Stanley Capital Services LLC is listed with 2,995,269 shares, shown as 7.1% of the class. The cover-page entries attribute shared dispositive and voting power to that entity.

Does this Schedule 13G/A amendment indicate an acquisition or sale of RDWR shares?

The amendment reports beneficial ownership amounts and percentages; it does not state any acquisition or sale instructions. The filing is disclosure of holdings, not a transactional notice.

What exhibits accompany the Schedule 13G/A amendment for RDWR?

The filing includes Exhibit 99.1 (Joint Filing Agreement) and Exhibit 99.2 (Item 7 subsidiary information), which identifies relevant subsidiaries and classifications per the cover-page references.

Who signed the RDWR Schedule 13G/A amendment and when?

The amendment is signed by Claire Gordon as Authorized Signatory for Morgan Stanley and Morgan Stanley Capital Services LLC, with signature dates of 05/12/2026 shown on the filing.