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

Rhea-AI Filing Summary

Souvik Das, Chief Technology Officer of Clearwater Analytics Holdings, Inc. (CWAN), reported a sale of Class A common stock under a pre-established trading plan. The Form 4 shows 10,000 shares were sold on 08/20/2025 at $20.00 per share, leaving the reporting person with 132,549 shares beneficially owned after the transaction. The filing states the sales were effected pursuant to a Rule 10b5-1 trading plan adopted on May 5, 2025, and the Form 4 was signed by an attorney-in-fact on 08/21/2025.

Insights

Securities Analyst

TL;DR: Insider sale of 10,000 CWAN shares under a 10b5-1 plan, reducing holdings to 132,549 shares.

The reported transaction is a non-derivative sale executed under a Rule 10b5-1 trading plan, which typically indicates the trades were pre-scheduled rather than opportunistic. The sale quantity (10,000 shares) and post-transaction ownership (132,549 shares) are clearly disclosed, and the execution price is listed as $20.00 per share. From an investor-disclosure perspective this is a routine Section 16 filing that improves transparency about insider activity but does not by itself reveal changes to corporate operations or financial condition because the sale followed an established plan.

Corporate Governance Expert

TL;DR: Use of a documented 10b5-1 plan and attorney-in-fact signature shows procedural compliance and formal delegation.

The Form 4 identifies the reporting person as the Chief Technology Officer and documents the Rule 10b5-1 plan adoption date (May 5, 2025), which supports an affirmative defense against insider trading claims for trades made under the plan. The attorney-in-fact signature on 08/21/2025 indicates delegated execution of the filing. These elements signal adherence to governance procedures for insider transactions; the filing contains no allegations, amendments, or unusual conditions.

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)

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	132,549	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.

Remarks:

	/s/ Alphonse Valbrune, as Attorney-in-Fact for Souvik Das	08/21/2025
	** 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).
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