Clearwater Analytics insider files Form 144 to sell 11,275 CWAN shares

Rhea-AI Filing Summary

Form 144 notice by an insider of Clearwater Analytics Holdings, Inc. (CWAN) discloses a proposed sale of 11,275 common shares through Morgan Stanley Smith Barney LLC on the NYSE with an aggregate market value of $221,102.75. The filing reports those shares were acquired partly by exercising stock options (6,275 shares on 09/15/2025 for cash) and partly as restricted stock units (5,000 on 01/01/2024).

The filing also lists four sales in the prior three months attributed to the holder or a Rule 10b5-1 plan: 11,275 shares on 08/15/2025 (gross proceeds $218,906.53), 18,700 shares on 07/15/2025 ($420,693.41), 5,858 shares on 06/30/2025 ($126,961.61), and 18,700 shares on 06/16/2025 ($416,060.95). The filer certifies no undisclosed material adverse information and references reliance on Rule 10b5-1 where applicable.

Positive

• Full transaction detail provided: class, broker, shares, market value, exchange, and acquisition method are disclosed
• Prior sales transparency: four sales in the past three months are listed with dates and gross proceeds
• 10b5-1 plan use disclosed: several prior sales are identified as executed under a Rule 10b5-1 plan, indicating prearranged trading

Negative

• None.

Insights

Securities Analyst

TL;DR: Insider plans a routine sale of 11,275 CWAN shares; multiple prior plan-based sales occurred in last three months.

The filing documents a proposed sale under Rule 144 executed through a broker on the NYSE with a stated market value of $221,102.75. Material facts are transactional: source of shares includes option exercise and RSUs. The disclosure of several recent sales, some identified as 10b5-1 plan transactions, suggests the disposals follow prearranged plans rather than opportunistic trades. No financial results, changes in control, or regulatory issues are disclosed in this notice.

Corporate Governance Expert

TL;DR: Filing appears procedural and compliant, noting Rule 10b5-1 reliance and the seller's certification about material nonpublic information.

This Form 144 supplies required details: class, broker, amounts, acquisition dates, and payment method for option exercise. The signer affirms absence of undisclosed material adverse information and indicates the existence of 10b5-1 plans for some prior sales. There are no governance red flags or mentions of insider departures or related-party transactions beyond routine insider equity monetization.

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	11275	221102.75	287938740	09/15/2025	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	09/15/2025	Exercise of Stock Options	Issuer			6275	09/15/2025	Cash
Common	01/01/2024	Restricted Stock Units	Issuer			5000	01/01/2024	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
10b5-1 Sales Plan for JAMES COX 777 W. Main Street, Suite 900 Boise ID 83702	Common	08/15/2025	11275	218906.53
10b5-1 Sales Plan for JAMES COX 777 W. Main Street, Suite 900 Boise ID 83702	Common	07/15/2025	18700	420693.41
JAMES COX 777 W. Main Street, Suite 900 Boise ID 83702	Common	06/30/2025	5858	126961.61
10b5-1 Sales Plan for JAMES COX 777 W. Main Street, Suite 900 Boise ID 83702	Common	06/16/2025	18700	416060.95

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 shares is the insider proposing to sell in the CWAN Form 144?

The notice proposes sale of 11,275 common shares through Morgan Stanley Smith Barney LLC on the NYSE with an aggregate market value of $221,102.75.

How were the 11,275 CWAN shares acquired?

The filing shows 6,275 shares were acquired by exercising stock options on 09/15/2025 (paid in cash) and 5,000 shares were received as restricted stock units on 01/01/2024.

Did the filer sell CWAN shares recently?

Yes. The filing lists four sales in the past three months: 11,275 shares on 08/15/2025 (gross $218,906.53), 18,700 on 07/15/2025 ($420,693.41), 5,858 on 06/30/2025 ($126,961.61), and 18,700 on 06/16/2025 ($416,060.95).

Is the sale executed under a prearranged trading plan?

The filing identifies prior sales as tied to a 10b5-1 sales plan for the named seller; the current notice references Rule 10b5-1 reliance where applicable.

Does the filer assert possession of undisclosed material information?

By signing, the filer represents they do not know any material adverse information not publicly disclosed regarding the issuer.