Scott Erickson - Sep 30, 2025 Form 4 Insider Report for Clearwater Analytics Holdings, Inc. (CWAN)

Role: Chief Revenue Officer
Signature: /s/ Alphonse Valbrune, as Attorney-in-Fact, for Scott Erickson
Stock symbol: CWAN
Transactions as of: Sep 30, 2025
Transactions value $: -$79,636
Form type: 4
Date filed: 10/1/2025, 09:02 PM
Previous filing: Jul 2, 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Erickson Scott Stanley	Chief Revenue Officer	C/O CLEARWATER ANALYTICS HOLDINGS, INC., 777 W. MAIN STREET, SUITE 900, BOISE	/s/ Alphonse Valbrune, as Attorney-in-Fact, for Scott Erickson	2025-10-01	0001879936

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CWAN	Class A Common Stock	Options Exercise	$0	+3.13K	+19.81%	$0.00	18.9K	Sep 30, 2025	Direct	F1
transaction	CWAN	Class A Common Stock	Options Exercise	$0	+5.16K	+27.28%	$0.00	24.1K	Sep 30, 2025	Direct	F1
transaction	CWAN	Class A Common Stock	Sale	-$49.6K	-2.81K	-11.66%	$17.68	21.3K	Sep 30, 2025	Direct	F2
transaction	CWAN	Class A Common Stock	Sale	-$30.1K	-1.7K	-8%	$17.68	19.6K	Sep 30, 2025	Direct	F2

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	Options Exercise	$0	-3.13K	-10%	$0.00	28.1K	Sep 30, 2025	Class A Common Stock	3.13K	$0.00	Direct	F3
transaction	CWAN	Restricted Stock Unit	Options Exercise	$0	-5.16K	-7.14%	$0.00	67K	Sep 30, 2025	Class A Common Stock	5.16K	$0.00	Direct	F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
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.