[144] Clearwater Analytics Holdings, Inc. SEC Filing

Rhea-AI Filing Summary

Insider sale notice for Clearwater Analytics Holdings, Inc. (CWAN) reports a proposed sale of 50,000 common shares through Morgan Stanley Smith Barney on 08/20/2025 with an aggregate market value of $990,000. The filer indicates these 50,000 shares were acquired the same day by exercise of stock options and paid in cash. The filing lists prior sales by the same person, SANDEEP SAHAI, showing dispositions of 50,000 shares on 07/14/2025 for $1,107,625.00, 16,424 shares on 06/30/2025 for $355,960.64, and 50,000 shares on 06/13/2025 for $1,112,565.00. The class outstanding figure is 287,938,740 shares, and the planned 50,000-share sale represents approximately 0.017% of outstanding shares. The notice includes the standard Rule 144 representation and references reliance on Rule 10b5-1 where applicable.

Positive

• Transaction transparency: Broker name, share counts, acquisition method, dates, and gross proceeds for recent sales are clearly reported
• Compliance references: Notice contains Rule 144 representation and notes reliance on Rule 10b5-1 where applicable
• Small proportion of outstanding stock: The proposed 50,000-share sale equals approximately 0.017% of the 287,938,740 shares outstanding

Negative

• Insider liquidity pattern: Multiple sizable sales by the same individual in the past three months may warrant attention from investors tracking insider transactions
• Limited issuer detail: The filing supplies transactional data but contains no operational, financial or strategic information about the issuer

Insights

Financial Analyst

TL;DR: Insider exercised options and plans a small, routine sale; several recent dispositions suggest ongoing liquidity actions.

The filing documents a contemporaneous exercise of stock options and an intended cash sale of 50,000 common shares valued at $990,000, representing roughly 0.017% of outstanding shares. Multiple recent sales by the same individual in June and July 2025 increase the pattern of insider liquidity. This is informative for monitoring insider behavior but is not, by itself, a material corporate event. All material details provided are transactional and administrative in nature; no new operating or financial results are reported.

Corporate Governance Expert

TL;DR: Filing shows compliance-oriented disclosures for Rule 144 and possible use of 10b5-1 plans; procedural integrity appears intact.

The notice contains the required representations under Rule 144 and references Rule 10b5-1 trading plans for some listed sales. The presence of multiple recent sales and an option exercise followed by a sale are consistent with standard executive liquidity practices. The filing supplies the broker name, exact share counts, gross proceeds for past sales, and acquisition/payment dates, fulfilling disclosure obligations. No governance violations or undisclosed material information are indicated in the document.

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

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	50000	990000.00	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	08/20/2025	Exercise of Stock Options	Issuer			50000	08/20/2025	Cash

* 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
10b5-1 Sales for SANDEEP SAHAI 777 W. Main Street, Suite 900 Boise ID 83702	Common	07/14/2025	50000	1107625.00
SANDEEP SAHAI 777 W. Main Street, Suite 900 Boise ID 83702	Common	06/30/2025	16424	355960.64
10b5-1 Sales for SANDEEP SAHAI 777 W. Main Street, Suite 900 Boise ID 83702	Common	06/13/2025	50000	1112565.00

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 this Form 144 for CWAN report?

It reports a proposed sale of 50,000 common shares on 08/20/2025 through Morgan Stanley Smith Barney with an aggregate market value of $990,000.

How were the 50,000 shares acquired according to the filing?

The filing states the shares were acquired on 08/20/2025 by exercise of stock options and paid in cash.

Who is the individual associated with recent sales in this filing?

The filing identifies SANDEEP SAHAI as the seller in recent transactions dated 06/13/2025, 06/30/2025, and 07/14/2025 with reported gross proceeds.

What were the gross proceeds of recent sales disclosed?

The filing shows gross proceeds of $1,112,565.00 on 06/13/2025 for 50,000 shares, $355,960.64 on 06/30/2025 for 16,424 shares, and $1,107,625.00 on 07/14/2025 for 50,000 shares.

How large is the planned sale relative to outstanding shares?

The planned 50,000-share sale is approximately 0.017% of the reported 287,938,740 shares outstanding.