Clearwater (CWAN) Form 144: 10,000-Share Insider Sale via Morgan Stanley

Rhea-AI Filing Summary

Form 144 notice for Clearwater Analytics Holdings, Inc. (CWAN) reports a proposed sale of 10,000 common shares through Morgan Stanley Smith Barney, with an aggregate market value of $198,000 and an approximate sale date of 08/20/2025. The shares were acquired as Restricted Stock Units on 02/28/2024 and the filing notes prior sales by the same person: 5,273 common shares sold on 06/30/2025 for $114,282.78. The filing includes the standard representation that the selling person certifies they have no undisclosed material adverse information about the issuer.

Positive

• None.

Negative

• Insider selling disclosed: Proposed sale of 10,000 common shares with aggregate market value of $198,000.
• Prior recent sale: Seller previously sold 5,273 shares on 06/30/2025 for $114,282.78.

Insights

Securities Analyst

TL;DR Insider proposes a modest sale of 10,000 shares via a broker after RSU acquisition; prior small sale was disclosed.

The notice documents a routine Rule 144 sale of 10,000 common shares through Morgan Stanley Smith Barney with an indicated aggregate market value of $198,000 and an approximate sale date of 08/20/2025. The securities were acquired as Restricted Stock Units on 02/28/2024. The filing also discloses a prior sale of 5,273 shares on 06/30/2025 for $114,282.78. This appears to be a standard insider liquidity transaction reported under Rule 144 rather than an issuer-driven financing event.

Corporate Governance Expert

TL;DR The filing is a routine disclosure of insider selling activity with required representations about undisclosed material information.

The Form 144 contains the seller's certification about lacking undisclosed material adverse information and shows the shares originated from RSUs granted by the issuer on 02/28/2024. The disclosure of prior insider sales (5,273 shares on 06/30/2025) provides context on recent insider liquidity. As presented, the document follows standard insider reporting and certification requirements under the securities rules.

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

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	10000	198000.00	287938740	08/20/2025	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	02/28/2024	Restricted Stock Units	Issuer			10000	02/28/2024	N/A

* 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
SOUVIK DAS 777 W. Main Street, Suite 900 Boise ID 83702	Common	06/30/2025	5273	114282.78

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

What does the CWAN Form 144 disclose about the proposed sale?

The filing reports a proposed sale of 10,000 common shares through Morgan Stanley Smith Barney with an aggregate market value of $198,000 and an approximate sale date of 08/20/2025.

How were the shares acquired that are being sold according to the Form 144?

The shares were acquired as Restricted Stock Units on 02/28/2024 from the issuer.

Did the filer report any sales of the issuer's securities in the past three months?

Yes. The filing shows a prior sale of 5,273 common shares on 06/30/2025 for $114,282.78 by Souvik Das.

Which broker is handling the proposed sale in the CWAN Form 144?

The broker listed is Morgan Stanley Smith Barney LLC Executive Financial Services located at 1 New York Plaza, 8th Floor, New York, NY 10004.

Does the filer assert possession of undisclosed material information in the Form 144?

No. The filer represents by signing the notice that they do not know any material adverse information about the issuer that has not been publicly disclosed.