Das Souvik 4

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.