Morgan Stanley (NASDAQ: MS) reports 6.1% beneficial stake in Radware (RDWR)

Rhea-AI Filing Summary

Morgan Stanley has disclosed a significant stake in Radware Ltd. The firm reports beneficial ownership of 2,616,532 ordinary shares of Radware, representing 6.1% of the class as of the event date. All voting and dispositive powers over these shares are held on a shared, not sole, basis.

Morgan Stanley, organized in Delaware and classified as a parent holding company, states that the securities were acquired and are held in the ordinary course of business, and not for the purpose of changing or influencing control of Radware.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

RADWARE LTD

(Name of Issuer)

Ordinary Shares

(Title of Class of Securities)

M81873107

(CUSIP Number)

12/31/2025

(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)

SCHEDULE 13G

CUSIP No. 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 2,610,939.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,616,532.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,616,532.00

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)

6.1 %

12

Type of Reporting Person (See Instructions)

HC, 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: Morgan Stanley
(b)	Address or principal business office or, if none, residence: 1585 Broadway, New York, NY 10036
(c)	Citizenship: 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: 6.1 %
(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.
	Not Applicable
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:	Chris O'Hara
Name/Title:	Authorized Signatory, Morgan Stanley
Date:	02/12/2026

FAQ

What stake does Morgan Stanley report in Radware (RDWR)?

Morgan Stanley reports beneficial ownership of 2,616,532 Radware ordinary shares, equal to 6.1% of the class. This makes it a significant institutional holder, with its interest disclosed on a Schedule 13G as of the stated event date.

Is Morgan Stanley seeking control of Radware (RDWR) with this holding?

Morgan Stanley states the Radware shares were acquired and are held in the ordinary course of business. It explicitly notes they were not acquired and are not held to change or influence control of Radware’s management or policies.

Does Morgan Stanley have sole voting power over its Radware (RDWR) shares?

Morgan Stanley reports no sole voting power over Radware shares. Instead, it discloses shared voting power over 2,610,939 shares and shared dispositive power over 2,616,532 shares, reflecting distributed decision-making across its reporting units.

What type of reporting person is Morgan Stanley in the Radware (RDWR) filing?

Morgan Stanley classifies itself as a parent holding company under the Schedule 13G rules. The filing aggregates Radware securities beneficially owned, or deemed owned, by certain operating units within Morgan Stanley and its subsidiaries and affiliates.

When did Morgan Stanley’s Radware (RDWR) ownership trigger this Schedule 13G?

The Schedule 13G lists December 31, 2025 as the date of the event requiring the filing. That date marks when Morgan Stanley’s beneficial ownership position in Radware met the reporting threshold under U.S. securities regulations.

Who signed the Morgan Stanley Schedule 13G for Radware (RDWR)?

The Schedule 13G was signed by Chris O'Hara as an Authorized Signatory of Morgan Stanley. The signature section includes a certification that the information in the statement is true, complete and correct to the best of their knowledge.