Clearwater Analytics Board Member Shows Long-term Commitment with New Stock Award

Rhea-AI Filing Summary

Clearwater Analytics Holdings (CWAN) Director Mukesh Aghi received a new equity compensation grant on June 23, 2025. The insider was awarded 15,339 Restricted Stock Units (RSUs) with the following key terms:

• Conversion ratio: Each RSU represents one share of Class A Common Stock
• Vesting schedule: Annual vesting over 3 years from grant date
• Exercise price: $0.00
• Expiration date: June 23, 2035

This Form 4 filing, signed by Attorney-in-Fact Alphonse Valbrune on June 25, 2025, represents a standard equity compensation grant to a non-employee director. The RSUs will vest in equal annual installments, aligning the director's interests with long-term shareholder value.

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

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

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^*

Aghi Mukesh

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
06/23/2025

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

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
Restricted Stock Unit	$0.00	06/23/2025		A		15,339		(1)	06/23/2035	Class A Common Stock	15,339	$0.00	15,339	D

Explanation of Responses:

1. The reporting person was granted Restricted Stock Units representing contingent right to receive one share of Clearwater Analytics Holdings Inc. common stock for each RSU. The award will vest annually over 3 years on the anniversary of grant.

Remarks:

	/s/ Alphonse Valbrune, as Attorney-in-Fact, for Mukesh Aghi	06/25/2025
	** 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

How many Restricted Stock Units (RSUs) did CWAN director Mukesh Aghi receive on June 23, 2025?

Mukesh Aghi received 15,339 Restricted Stock Units (RSUs) of Clearwater Analytics Holdings Inc. (CWAN) on June 23, 2025, as reported in the Form 4 filing.

What is the vesting schedule for CWAN director Mukesh Aghi's RSU grant?

According to the Form 4 filing, the RSU award will vest annually over 3 years on the anniversary of the grant date (June 23, 2025). Each RSU represents the contingent right to receive one share of Clearwater Analytics common stock.

What is the exercise price of CWAN RSUs granted to Mukesh Aghi?

The Restricted Stock Units were granted with an exercise price of $0.00, as shown in the derivative securities table of the Form 4 filing.

When do Mukesh Aghi's CWAN RSUs expire?

The Restricted Stock Units granted to Mukesh Aghi have an expiration date of June 23, 2035, as reported in the Form 4 filing.

What position does Mukesh Aghi hold at CWAN according to the Form 4?

According to the Form 4 filing, Mukesh Aghi serves as a Director of Clearwater Analytics Holdings, Inc. (CWAN), as indicated by the 'X' marked in the Director box under the Relationship of Reporting Person(s) to Issuer section.