Das Souvik 4

4 · Clearwater Analytics Holdings, Inc. · Filed Apr 2, 2026

AI-generated summary of this filing

Updated Apr 2, 2026

Clearwater Analytics (CWAN) CTO Souvik Das Sells Shares

What Happened

Souvik Das, Chief Technology Officer of Clearwater Analytics (CWAN), had Restricted Stock Units (RSUs) vest on 2026-03-31 that converted into 27,663 shares (4,688 + 5,156 + 17,819) at $0.00 per share.
Concurrently, Das sold 14,686 shares in open-market sell-to-cover transactions (2,738 + 9,458 + 2,490) at $23.80 per share, generating approximately $349,520 in gross proceeds.
The filing shows corresponding derivative entries with $0 value for the vested shares, reflecting settlement/withholding mechanics rather than discretionary stock sales.

Key Details

Transaction date: March 31, 2026; filing date: April 2, 2026 (filed on time).
Sale price: $23.80; sale proceeds ≈ $349,520 (14,686 shares).
Vested/converted shares: 27,663 acquired at $0.00 per share (RSU settlement).
Footnotes: F1 confirms shares were acquired upon RSU vesting; F2 states the sales were mandated "sell-to-cover" transactions to satisfy tax withholding (not discretionary sales). F3–F5 describe ongoing RSU vesting schedules.
The Form 4 does not list the total number of CWAN shares held by Das after these transactions.

Context

This was primarily an RSU vesting event with sell-to-cover tax-related sales. The derivative entries reflect RSU settlement/withholding mechanics (exercise/conversion of RSUs), not a market-timed sale for investment purposes.
Such sell-to-cover transactions are common when restricted awards vest and do not necessarily signal insider sentiment about the stock.

Form 4

Period: 2026-03-31

Chief Technology Officer

Transactions

Exercise/Conversion
Class A Common Stock
[F1]
2026-03-31+4,688→ 201,820 total
Exercise/Conversion
Class A Common Stock
[F1]
2026-03-31+5,156→ 206,976 total
Exercise/Conversion
Class A Common Stock
[F1]
2026-03-31+17,819→ 224,795 total
Sale
Class A Common Stock
[F2]
2026-03-31$23.80/sh−2,738$65,163→ 222,057 total
Sale
Class A Common Stock
[F2]
2026-03-31$23.80/sh−9,458$225,096→ 212,599 total
Sale
Class A Common Stock
[F2]
2026-03-31$23.80/sh−2,490$59,261→ 210,109 total
Exercise/Conversion
Restricted Stock Unit
[F3]
2026-03-31−4,688→ 32,812 total
Exercise: $0.00Exp: 2034-02-28→ Class A Common Stock (4,688 underlying)
Exercise/Conversion
Restricted Stock Unit
[F4]
2026-03-31−5,156→ 56,719 total
Exercise: $0.00Exp: 2035-02-13→ Class A Common Stock (5,156 underlying)
Exercise/Conversion
Restricted Stock Unit
[F5]
2026-03-31−17,819→ 124,729 total
Exercise: $0.00Exp: 2036-02-11→ Class A Common Stock (17,819 underlying)

Footnotes (5)

[F1]These shares represent shares acquired upon the vesting of Restricted Stock Units ("RSUs").
[F2]The sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of Restricted Stock Units. The sale is mandated by the Issuer's election to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary transaction by the Reporting Person.
[F3]6.25% of the Restricted Stock Units shall vest at the end of each 3-month period for the next 4 years following January 1, 2024, and will settle within thirty days of the applicable vesting date.
[F4]6.25% of the Restricted Stock Units shall vest at the end of each 3-month period for the next 4 years following January 1, 2025, and will settle within thirty days of the applicable vesting date.
[F5]12.5% of the Restricted Stock Units shall vest at the end of each 3-month period for the next 2 years following January 1, 2026, and will settle within thirty days of the applicable vesting date.

Signature

/s/ Alphonse Valbrune, as Attorney-in-Fact for Souvik Das|2026-04-02

1 file