Erickson Scott Stanley 4

What Happened Erickson Scott Stanley, Chief Revenue Officer of Clearwater Analytics Holdings (CWAN), had restricted stock units (RSUs) vest on March 31, 2026 and those RSUs were settled (reported as exercise/conversion of derivatives). A portion of the shares were sold in the open market to cover tax withholding obligations. Specifically, 35,279 shares were acquired upon RSU vesting (3,125 + 5,156 + 26,998), and 18,790 shares were sold in three open-market trades at $23.80 per share for total proceeds of $447,192.

Key Details

• Transaction date: 2026-03-31. Sale price: $23.80 per share.
• Shares acquired from RSU vesting: 35,279 total (reported as derivative exercise/conversion, code M).
• Shares sold (open market): 14,378; 2,747; and 1,665 — total 18,790 shares → $447,192 proceeds.
• The sales were "sell-to-cover" to satisfy tax withholding obligations (footnote F2) and are not discretionary trades by the reporting person.
• Vesting schedule notes: quarterly vesting percentages apply per footnotes F3–F5 (portion vesting quarterly through 2028).
• Shares owned after the transaction are not specified in the provided filing.
• Filing does not indicate a late report.

Context

• The M-code derivative entries at $0 reflect RSU vesting/settlement rather than an option purchase with cash; the subsequent open-market sells are routine tax-withholding transactions (sell-to-cover). Such sell-to-cover sales are common and generally reflect tax mechanics rather than a direct sentiment signal from the insider.