Clearwater Analytics (NYSE: CWAN) CTO sells 10,000 shares under 10b5-1 plan

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 on May 8, 2026 at a weighted average price of $24.3359 per share.

The sale was executed under a pre-arranged Rule 10b5-1 trading plan, as noted in the footnotes, indicating it was scheduled in advance rather than timed opportunistically. Following this transaction, Das directly holds 190,109 shares, so he retains a substantial ongoing equity stake in the company.

Insights

Equity compensation and insider-trading analyst

Pre-planned, modest insider sale with large remaining stake.

Clearwater Analytics’ Chief Technology Officer Souvik Das sold 10,000 Class A shares via an open-market transaction at a weighted average of $24.3359 on May 8, 2026. The transaction is classified as a sale (code S) with direct ownership.

A key detail is that the sale occurred under a Rule 10b5-1 trading plan adopted earlier, meaning the trades were pre-scheduled and not timed in reaction to recent events. After the sale, Das still holds 190,109 shares, so the transaction represents only a small portion of his visible holdings.

Because the filing shows no option exercises or derivative positions and only a single planned sale, this looks like routine liquidity or diversification rather than a strategic shift in insider exposure. The net-sell volume of 10,000 shares is relatively limited in scale for a senior executive.

Insider Trade Summary 10b5-1

Net Seller: 10,000 shares ($243,359)

Net Sell 1 txn

Insider Das Souvik

Role Chief Technology Officer

Sold 10,000 shs ($243K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	10,000	$24.3359	$243K

Holdings After Transaction: Class A Common Stock — 190,109 shares (Direct, null)

Footnotes (1)

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. This transaction was executed in multiple trades at prices ranging from $24.32 USD to $24.35 USD; the price reported reflects the weighted average sale price.

Key Figures

Shares sold: 10,000 shares Weighted average sale price: $24.3359/share Post-transaction holdings: 190,109 shares +2 more

5 metrics

Shares sold 10,000 shares Class A Common Stock sold on May 8, 2026

Weighted average sale price $24.3359/share Open-market sale on May 8, 2026

Post-transaction holdings 190,109 shares Directly owned after the reported sale

Trade price range $24.32–$24.35/share Multiple trades comprising the reported sale

Transactions reported 1 sale Single non-derivative open-market sale in Form 4

Key Terms

Rule 10b5-1 trading plan, open-market sale, Class A Common Stock, weighted average sale price, +1 more

5 terms

Rule 10b5-1 trading plan regulatory

"The sale reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Class A Common Stock financial

""security_title": "Class A Common Stock""

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

weighted average sale price financial

"the price reported reflects the weighted average sale price"

non-derivative financial

""transaction_type": "non-derivative""

Form 4 Insider Transactions: What Each Field Means →

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 IDAHO 83702

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/08/2026

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

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

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

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	05/08/2026		S(1)		10,000	D	$24.3359(2)	190,109	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 $24.32 USD to $24.35 USD; the price reported reflects the weighted average sale price.

Remarks:

	/s/ Alphonse Valbrune, as Attorney-in-Fact for Souvik Das	05/11/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Clearwater Analytics (CWAN) report for Souvik Das?

Clearwater Analytics reported that Chief Technology Officer Souvik Das sold 10,000 shares of Class A common stock. The open-market sale occurred on May 8, 2026 at a weighted average price of $24.3359 per share, as disclosed in his Form 4 filing.

At what price did CWAN’s CTO sell his Clearwater Analytics shares?

The CTO’s 10,000 Clearwater Analytics shares were sold at a weighted average price of $24.3359 per share. Footnotes state individual trades were executed between $24.32 and $24.35, with the reported figure reflecting the overall weighted average sale price.

Was the CWAN insider sale by Souvik Das made under a Rule 10b5-1 plan?

Yes, the Form 4 notes that Souvik Das’s sale was effected under a Rule 10b5-1 trading plan. This indicates the trades were pre-arranged according to a preset schedule, rather than being discretionary decisions based on near-term market or company developments.

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

After selling 10,000 shares, Souvik Das directly holds 190,109 shares of Clearwater Analytics Class A common stock. This post-transaction holding shows he maintains a significant equity position in the company despite the disclosed open-market sale.

What does the Form 4 net-sell summary show for CWAN’s Souvik Das?

The Form 4 transaction summary for Souvik Das shows one sale totaling 10,000 shares, with a net-sell direction. There were no reported purchases, option exercises, gifts, or tax-withholding dispositions in this filing, highlighting a single, straightforward open-market sale event.

Were there any derivative securities involved in the CWAN insider transaction?

No derivative securities were reported in this Form 4. The filing covers only non-derivative Class A common stock, with 10,000 shares sold and 190,109 shares shown as directly owned afterward, indicating no option exercises or conversions in this specific disclosure.