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

Clearwater Analytics Holdings, Inc. Chief Technology Officer Souvik Das reported an open-market sale of 10,000 shares of Class A Common Stock at a weighted average price of $23.373 per share.

Rhea-AI Filing Summary

Clearwater Analytics Holdings, Inc. Chief Technology Officer Souvik Das reported an open-market sale of 10,000 shares of Class A Common Stock at a weighted average price of $23.373 per share. After the transaction, he directly holds 197,132 shares.

The sale on March 9, 2026 was executed in multiple trades at prices ranging from $23.29 to $23.46 per share. According to a footnote, the sale was effected under a pre-arranged Rule 10b5-1 trading plan adopted by the reporting person on May 6, 2025, indicating it was scheduled in advance rather than timed discretionarily.

Insights

Equity analyst

CTO executes a modest, pre-planned stock sale under Rule 10b5-1.

The Chief Technology Officer of Clearwater Analytics Holdings, Souvik Das, sold 10,000 shares of Class A Common Stock at a weighted average price of $23.373. He continues to hold 197,132 shares directly, so this represents a relatively small portion of his position.

The trade occurred on March 9, 2026 through multiple executions between $23.29 and $23.46. A disclosed Rule 10b5-1 trading plan adopted on May 6, 2025 indicates the sale was pre-scheduled, which typically reduces the informational content of the timing. Overall, the activity appears routine and does not materially alter the insider’s exposure.

Insider Trade Summary 10b5-1

Net Seller: 10,000 shares

Net Sell 1 txn

Insider Das Souvik

Role Chief Technology Officer

Sold 10,000 shs ($234K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	10,000	$23.373	$234K

Holdings After Transaction: Class A Common Stock — 197,132 shares (Direct)

Footnotes (2)

1. F1. The sale reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 6, 2025.
2. F2. This transaction was executed in multiple trades at prices ranging from $23.29 USD to $23.46 USD; the price reported reflects the weighted average sale price.

FAQ

What did Clearwater Analytics (CWAN) CTO Souvik Das report in this Form 4?

Souvik Das, CTO of Clearwater Analytics, reported selling 10,000 shares of Class A Common Stock at a weighted average price of $23.373 per share. Following the sale, he directly holds 197,132 shares, indicating he retained a substantial equity position.

At what prices did the CWAN insider stock sale by Souvik Das occur?

The reported 10,000-share sale was executed in multiple trades between $23.29 and $23.46 per share. The Form 4 lists a weighted average sale price of $23.373 for the transaction, reflecting the combined result of those individual executions.

How many Clearwater Analytics (CWAN) shares does Souvik Das hold after the sale?

After selling 10,000 shares, Souvik Das directly holds 197,132 shares of Clearwater Analytics Class A Common Stock. This post-transaction balance suggests the sale involved only a portion of his overall holding, leaving his remaining equity stake significant.

Was the CWAN CTO’s Form 4 stock sale made under a Rule 10b5-1 plan?

Yes. A footnote explains the reported sale was effected pursuant to a Rule 10b5-1 trading plan adopted by Souvik Das on May 6, 2025. Such pre-arranged plans are designed to schedule trades in advance and lessen the impact of discretionary timing.

What type of transaction is reported in Souvik Das’s Clearwater Analytics Form 4?

The filing reports an open-market sale of 10,000 shares of Class A Common Stock, coded as an “S” transaction. The action reflects a straightforward disposition of shares at market prices, with no associated option exercise or derivative conversion in this particular Form 4.

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Accepted by SEC EDGAR 03/10/2026 - 05:49 PM Learn about SEC filing dates

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)
03/09/2026

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

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	03/09/2026		S(1)		10,000	D	$23.373(2)	197,132	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 sale reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 6, 2025.

2. This transaction was executed in multiple trades at prices ranging from $23.29 USD to $23.46 USD; the price reported reflects the weighted average sale price.

Remarks:

	/s/ Alphonse Valbrune, as Attorney-in-Fact for Souvik Das	03/10/2026
	** 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.