Souvik Das - Feb 20, 2023 Form 4 Insider Report for Clearwater Analytics Holdings, Inc. (CWAN)

Role
Chief Technology Officer
Signature
/s/ Alphonse Valbrune, as Attorney-in-Fact for Souvik Das
Stock symbol
CWAN
Transactions as of
Feb 20, 2023
Transactions value $
-$123,993
Form type
4
Date filed
2/22/2023, 05:42 PM
Previous filing
Jan 4, 2023
Next filing
Aug 17, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CWAN Class A Common Stock Options Exercise $0 +6.25K +59.19% $0.00 16.8K Feb 21, 2023 Direct F1, F2
transaction CWAN Class A Common Stock Tax liability -$41.3K -2.16K -12.86% $19.12 14.6K Feb 21, 2023 Direct F3
transaction CWAN Class A Common Stock Options Exercise $0 +12.5K +85.34% $0.00 27.1K Feb 21, 2023 Direct F3, F4
transaction CWAN Class A Common Stock Tax liability -$82.7K -4.32K -15.92% $19.12 22.8K Feb 21, 2023 Direct F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CWAN Restricted Stock Unit Award $0 +300K $0.00 300K Feb 20, 2023 Class A Common Stock 300K Direct F5, F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Class A Common Stock represents shares acquired by the Reporting Person from the vesting of performance stock units ("PSUs") issued to the Reporting Person on September 24, 2021. The eligible PSUs vested based on the Issuer's achievement of certain performance criteria based on revenue growth in 2022.
F2 Includes 302 shares of Class A Common Stock purchased on November 30, 2022, as part of the Issuer's Employee Stock Purchase Plan. In accordance with the Plan, these shares were purchased at a price equal to 85% of the lower of the closing price of the Issuer's Class A Common Stock on June 1, 2022, or November 30, 2022 in transactions exempted by Rule 16b-3(c) and/or Rule 16b-3(d).
F3 The disposition reported on this Form 4 represents shares withheld to cover tax withholding obligations in connection with the vesting and settlement of Performance Stock Units. The disposition is mandated by the Issuer and does not represent a discretionary transaction by the Reporting Person.
F4 The Class A Common Stock represents shares acquired by the Reporting Person from the vesting of performance stock units ("PSUs") issued to the Reporting Person on March 18, 2022. The eligible PSUs vested based on the Issuer's achievement of certain performance criteria based on revenue growth in 2022.
F5 Each restricted stock unit ("RSU") represents a right to receive one share of the issuer's Class A Common Stock.
F6 The reported RSUs will vest in four 25% installments on each of the first four anniversaries of January 1, 2022 and will settle within thirty days of the applicable vesting date.
F7 This represents the unvested portion of the RSUs granted on February 20, 2023 and does not include other RSUs with different grant dates or vesting terms.