[SCHEDULE 13G] Radware Ltd. SEC Filing

Rhea-AI Filing Summary

Legal & General and several affiliated investment entities report collective beneficial ownership positions in Radware Ltd. The primary reporting person, Legal & General Group Plc, discloses 2,831,851 ordinary shares, representing 6.6% of the class, with no sole voting or dispositive power and shared voting and dispositive power of 2,831,851 shares. Several affiliates file related positions: Legal & General Investment Management Ltd (2,829,524 shares, 6.6%), LGIM Managers (Europe) Limited (2,802,742 shares, 6.6%), and Legal & General UCITS ETF Plc (2,795,341 shares, 6.5%), while smaller affiliate holdings include Legal & General Investment Management America Inc (2,327 shares) and LGIM Singapore PTE Ltd (7,401 shares).

The filing identifies the group structure and management relationships among the reporting entities, and certifies that the listed foreign regulatory schemes are substantially comparable to U.S. regulation. The statement records shared control across the group and clarifies that the positions are held by investment management and ETF vehicles rather than by a single controlling owner.

Positive

• Legal & General Group Plc discloses a material position of 2,831,851 shares (6.6% of class), improving ownership transparency for investors.
• Affiliates' filings clarify management relationships (investment manager, ETF structure, super-manCo), showing how positions are held across regulated entities.

Negative

• None.

Insights

Securities Analyst

TL;DR: Legal & General group reports a significant passive stake—about 6.6%—in Radware, held with shared voting and dispositive power.

The filing documents that Legal & General Group Plc and affiliated managers collectively report individual beneficial holdings near the 6.5%–6.6% range, with the lead filer showing 2,831,851 shares (6.6%). Importantly, each reporting entity discloses zero sole voting or dispositive power and records only shared authority, indicating coordinated but non-sole control. For market participants, a disclosed stake above 5% is material for ownership transparency; however, the filing provides no indication of activist intent or operational control, limiting immediate governance implications.

Corporate Governance Expert

TL;DR: Group ownership structure is clarified; filings show passive, managed positions across regulated investment vehicles.

The statement enumerates multiple Legal & General affiliates as reporting persons and explains the management relationships among them, including discretionary investment management arrangements and UCITS ETF structuring. The disclosure that several entities each hold similar sized positions (e.g., 2,829,524 and 2,802,742 shares) with shared voting/dispositive power is a governance-relevant fact: it clarifies who may be consulted on shareholder matters. The filing does not present any single affiliate with sole voting control, and it contains no additional governance actions or proposals.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Radware Ltd.

(Name of Issuer)

Ordinary Shares, NIS 0.05 par value per share

(Title of Class of Securities)

M81873107

(CUSIP Number)

06/30/2025

(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

Legal & General Group Plc

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

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,831,851.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,831,851.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,831,851.00

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)

6.6 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

CUSIP No. M81873107

1

Names of Reporting Persons

Legal & General Investment Management Ltd

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

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,829,524.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,829,524.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,829,524.00

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)

6.6 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

CUSIP No. M81873107

1

Names of Reporting Persons

LGIM Managers (Europe) Limited

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

IRELAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,802,742.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,802,742.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,802,742.00

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)

6.6 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

CUSIP No. M81873107

1

Names of Reporting Persons

Legal & General UCITS ETF Plc

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

IRELAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,795,341.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,795,341.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,795,341.00

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)

6.5 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

CUSIP No. M81873107

1

Names of Reporting Persons

Legal & General Investment Management America Inc

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

ILLINOIS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,327.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,327.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,327.00

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)

0 %

12

Type of Reporting Person (See Instructions)

IA, CO, OO

Comment for Type of Reporting Person: CFTC registered Commodity Trading Advisor and Commodity Pool Operator, OSC and AMF registered portfolio in Canada

SCHEDULE 13G

CUSIP No. M81873107

1

Names of Reporting Persons

LGIM Singapore PTE Ltd

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

SINGAPORE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 7,401.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,401.00

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)

0 %

12

Type of Reporting Person (See Instructions)

FI

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: Legal & General Group Plc
(b)	Address or principal business office or, if none, residence: ONE COLEMAN STREET, LONDON, EC2R 5AA
(c)	Citizenship: United Kingdom
(d)	Title of class of securities: Ordinary Shares, NIS 0.05 par value per share
(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: 2831851
(b)	Percent of class: 6.6 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 2831851
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 2831851
Item 5.	Ownership of 5 Percent or Less of a Class.
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.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(K), so indicate under Item 3(k) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. 8 (a).LEGAL & GENERAL INVESTMENT MANAGEMENT LIMITED IS A DISCRETIONARY INVESTMENT MANAGER AUTHORISED AND REGULATED BY THE UK FINANCIAL CONDUCT AUTHORITY. LEGAL & GENERAL UCITS ETF PLC IS ORGANISED AS AN OPEN-ENDED INVESTMENT COMPANY WITH VARIABLE CAPITAL. THE COMPANY IS STRUCTURED AS AN UMBRELLA FUND AND IS COMPRISED OF SEPARATE SUB-FUNDS. THE COMPANY HAS SEGREGATED LIABILITY BETWEEN ITS FUNDS AND IS ORGANISED UNDER THE LAWS OF IRELAND AS A PUBLIC LIMITED COMPANY PURSUANT TO THE COMPANIES ACT (2014) (AS AMENDED)(THE """"""""COMPANIES ACT""""""""). THE COMPANY HAS ENTERED INTO A MANAGEMENT AGREEMENT WITH LGIM MANAGERS (EUROPE) LIMITED UNDER WHICH THE MANAGER IS RESPONSIBLE FOR THE MANAGEMENT OF THE COMPANYS AFFAIRS. LGIM MANAGERS (EUROPE) LIMITED IS A LIMITED LIABILITY COMPANY INCORPORATED IN IRELAND AND AUTHORISED BY THE CENTRAL BANK OF IRELAND AS A SUPER MANCO. THE MANAGER HAS APPOINTED LEGAL & GENERAL INVESTMENT MANAGEMENT LIMITED AS INVESTMENT MANAGER FOR EACH OF THE FUNDS. THE INVESTMENT MANAGER IS AUTHORISED AND REGULATED BY THE UK FINANCIAL CONDUCT AUTHORITY. LEGAL & GENERAL INVESTMENT MANAGEMENT AMERICA INC. IS AN INVESTMENT MANAGER REGULATED BY THE SECURITIES AND EXCHANGE COMMISSION. LEGAL & GENERAL GROUP PLC IS AN INSURANCE COMPANY AND MULTINATIONAL FINANCIAL SERVICES GROUP COMPANY. LGIM SINGAPORE PTE. LTD. IS A DISCRETIONARY INVESTMENT MANAGER AUTHORISED BY THE MONETARY AUTHORITY OF SINGAPORE (MAS). Name of Persons Filing: THIS STATEMENT IS FILED BY: (i) Legal & General Group Plc (ii) Legal & General Investment Management Ltd (iii) LGIM Managers (Europe) Limited (iv) Legal & General UCITS ETF Plc (v) Legal & General Investment Management America Inc (vi) LGIM Singapore PTE. Ltd 8 (b). Address of Principal Business Office or, if none, Residence: THE ADDRESS OF PRINCIPAL BUSINESS OFFICE IS: (i) ONE COLEMAN STREET, LONDON, EC2R 5AA (ii) ONE COLEMAN STREET, LONDON, EC2R 5AA (iii) 70 SIR JOHN ROGERSONS QUAY, DUBLIN 2, IRELAND (iv) 70 SIR JOHN ROGERSONS QUAY, DUBLIN 2, IRELAND (v) 71 SOUTH WACKER DRIVE, SUITE 800, CHICAGO IL 60606 (vi) LEVEL 7, 15-17, CAPITAL SQUARE, 23 CHURCH STREET, SINGAPORE, U0, 049481
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 foreign regulatory scheme applicable to the financial institutions in the group is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

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.

Legal & General Group Plc

Signature:	Lailah Sahzayasin
Name/Title:	Head of Asset Class Oversight
Date:	07/28/2025

Legal & General Investment Management Ltd

Signature:	Lailah Sahzayasin
Name/Title:	Head of Asset Class Oversight
Date:	07/28/2025

LGIM Managers (Europe) Limited

Signature:	Lailah Sahzayasin
Name/Title:	Head of Asset Class Oversight
Date:	07/28/2025

Legal & General UCITS ETF Plc

Signature:	Lailah Sahzayasin
Name/Title:	Head of Asset Class Oversight
Date:	07/28/2025

Legal & General Investment Management America Inc

Signature:	Lailah Sahzayasin
Name/Title:	Head of Asset Class Oversight
Date:	07/28/2025

LGIM Singapore PTE Ltd

Signature:	Lailah Sahzayasin
Name/Title:	Head of Asset Class Oversight
Date:	07/28/2025

Comments accompanying 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.

FAQ

What stake does Legal & General report in Radware (RDWR)?

The lead reporting person, Legal & General Group Plc, reports 2,831,851 shares, representing 6.6% of Radware's ordinary shares.

Does Legal & General have sole voting control over RDWR shares?

No. The filing lists 0 sole voting power and records shared voting power of 2,831,851 for Legal & General Group Plc.

Which Legal & General affiliates also reported positions in RDWR?

Reported affiliates include Legal & General Investment Management Ltd, LGIM Managers (Europe) Limited, Legal & General UCITS ETF Plc, Legal & General Investment Management America Inc, and LGIM Singapore PTE Ltd.

Are these holdings classified as investment or control positions?

The filing classifies the reporting persons primarily as financial/investment institutions and shows holdings held via investment management and ETF structures with shared powers.

What voting and dispositive powers are reported for the largest filer?

For Legal & General Group Plc the filing reports 0 sole voting/dispositive power and 2,831,851 shared voting and dispositive power.