diff --git a/RELNOTES b/RELNOTES
index 565b225c..9a6ff7cd 100644
--- a/RELNOTES
+++ b/RELNOTES
@@ -52,8 +52,12 @@ ISC DHCP is open source software maintained by Internet Systems
 Consortium.  This product includes cryptographic software written
 by Eric Young (eay@cryptsoft.com).
 
-			Changes since 4.3.3b1
+			Changes since 4.3.3
 
+- Corrected a static analyzer warning in common/execute.c
+  [ISC-Bugs #40374]
+
+			Changes since 4.3.3b1
 - None
 
 			Changes since 4.3.2
diff --git a/common/execute.c b/common/execute.c
index bd8505ff..cd2ebbc1 100644
--- a/common/execute.c
+++ b/common/execute.c
@@ -441,11 +441,11 @@ int execute_statements (result, packet, lease, client_state,
 		      next_let:
 			if (ns) {
 				binding = dmalloc(sizeof(*binding), MDL);
-				memset(binding, 0, sizeof(*binding));
 				if (!binding) {
 				   blb:
 				    binding_scope_dereference(&ns, MDL);
 				} else {
+				    memset(binding, 0, sizeof(*binding));
 				    binding->name =
 					    dmalloc(strlen
 						    (e->data.let.name + 1),