[Form 4/A] Clearwater Analytics Holdings, Inc. Amended Insider Trading Activity

Rhea-AI Filing Summary

Clearwater Analytics Holdings (CWAN) insider amendment: Souvik Das, Chief Technology Officer, reported a sale of 10,000 shares of Class A common stock on 08/20/2025 at $20 per share under a Rule 10b5-1 trading plan adopted May 5, 2025. After the reported sale, the filing shows 131,549 shares beneficially owned by Mr. Das. This filing is an amendment correcting a scrivener's error regarding the previously reported number of derivative securities; the amendment states the correction does not affect the previously reported transaction. The Form 4/A was signed by an attorney-in-fact on 09/10/2025.

Positive

• Transaction executed under a Rule 10b5-1 trading plan, indicating the sale was pre-arranged and compliant with insider trading rules
• Amendment corrects a scrivener's error, showing the reporting person and filer took steps to ensure accurate public disclosure

Negative

• Insider sale of 10,000 shares may be viewed negatively by some investors as insider liquidity
• Form shows 131,549 shares beneficially owned after the sale; change in insider holdings is material to ownership disclosure

Insights

Financial Analyst

TL;DR: Routine insider sale executed under a pre-established 10b5-1 plan; amendment corrects a non-impactful scrivener error.

The sale of 10,000 Class A shares at $20 per share is explicitly reported as executed pursuant to a Rule 10b5-1 plan adopted May 5, 2025, which indicates the transaction was pre-planned and not opportunistic. The amendment corrects the disclosed count of derivative securities beneficially owned and states the correction does not change the substance of the transaction. For investors, this is a transparent disclosure of insider liquidity rather than an operational or financial development for the company.

Corporate Governance Expert

TL;DR: Disclosure aligns with governance best practices: pre-arranged trading plan and corrective amendment filed.

The reporting officer used a Rule 10b5-1 trading plan, which provides an affirmative defense under insider trading rules and supports compliance. Filing an amendment to correct a scrivener's error demonstrates attention to accurate public disclosure. No other governance concerns are raised by the content of this Form 4/A; the document contains no indications of undisclosed related-party transactions or material changes in ownership structure beyond the sale reported.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Das Souvik

(Last) (First) (Middle)

C/O CLEARWATER ANALYTICS HOLDINGS, INC.

777 W. MAIN STREET, SUITE 900

(Street)

BOISE ID 83702

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Clearwater Analytics Holdings, Inc. [ CWAN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Technology Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/20/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)
08/20/2025

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	08/20/2025		S(1)		10,000	D	$20	131,549(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 5, 2025.

2. This amendment to Form 4 is being filed solely to correct, due to a scrivener's error, the total number of derivative securities beneficially owned by the reporting person in Table I. This correction has no effect on the transaction(s) previously reported

Remarks:

	/s/ Alphonse Valbrune, as Attorney-in-Fact for Souvik Das	09/10/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Souvik Das disclose in the Form 4/A for CWAN?

The Form 4/A reports a sale of 10,000 Class A shares on 08/20/2025 at $20 per share and corrects a scrivener's error about previously reported derivative securities; beneficial ownership after the sale is 131,549 shares.

Was the sale by the CWAN officer pre-arranged?

Yes. The filing states the sales were effected pursuant to a Rule 10b5-1 trading plan adopted on May 5, 2025.

Does the amendment change the substance of the originally reported transaction?

No. The amendment states the correction is a scrivener's error regarding derivative securities and has no effect on the transaction(s) previously reported.

Who is the reporting person and what is their role at CWAN?

The reporting person is Souvik Das, who is disclosed as the Chief Technology Officer and an officer of Clearwater Analytics Holdings, Inc.

When was the Form 4/A signed and by whom?

The filing bears a signature by an attorney-in-fact, /s/ Alphonse Valbrune, dated 09/10/2025.