Form 4: Clearwater Analytics CTO Sells Shares Under 10b5-1 Plan
Insider Transaction Report
Clearwater Analytics' Chief Technology Officer, Souvik Das, sold 10,000 shares of Class A Common Stock for a weighted average price of $21.588 per share.
Summary
- Souvik Das, Chief Technology Officer of Clearwater Analytics Holdings, Inc. (CWAN), reported a sale of company stock.
- The transaction involved the disposition of 10,000 shares of Class A Common Stock.
- The shares were sold on December 8, 2025, at a weighted average price of $21.588 per share.
- This sale was executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Das on May 5, 2025.
- Following this transaction, Mr. Das beneficially owns 96,186 shares of Class A Common Stock.
- The reported beneficial ownership includes shares acquired on December 1, 2025, through the issuer's Employee Stock Purchase Plan, which is exempt under Rule 16b-3(c).
Sentiment
Score: 5
Explanation: The sentiment is neutral. While an insider sale can sometimes be viewed negatively, the execution under a pre-arranged 10b5-1 plan mitigates concerns about market timing or a lack of confidence. The reporting person also retains a substantial holding.
Positives
- The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a planned transaction rather than an immediate reaction to market conditions.
- The reporting person continues to hold a significant number of shares (96,186), demonstrating continued alignment with shareholder interests.
Negatives
- An insider sale, even if pre-planned, can sometimes be perceived negatively by the market as it reduces the insider's direct equity stake.
Future Outlook
NA
Industry Context
This filing is a standard insider transaction report and does not provide information relevant to broader industry trends or competitive analysis.
Stakeholder Impact
- Shareholders: Minor impact. The sale is a routine insider transaction under a pre-arranged plan, unlikely to signal significant changes in company prospects.
Key Dates
| Date | Description |
|---|---|
| 2025-05-05 | Date Rule 10b5-1 trading plan was adopted by Souvik Das. |
| 2025-12-01 | Date shares were acquired pursuant to the issuer's Employee Stock Purchase Plan. |
| 2025-12-08 | Date of reported transaction (sale of Class A Common Stock). |
| 2025-12-09 | Date the Form 4 was signed. |
Keywords
Clearwater Analytics, CWAN, Insider Trading, Form 4, Souvik Das, Stock Sale, 10b5-1 Plan, Chief Technology Officer, Equity Transaction
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