Form 4: Clearwater Analytics Director Jacques Aigrain Reports Significant Equity Transactions

Clearwater Analytics Holdings, Inc. Director Jacques Aigrain reported the vesting of restricted stock units, the disposition of shares for tax purposes, and the grant of new restricted stock units on June 23, 2025.

Summary

• Jacques Aigrain, a Director of Clearwater Analytics Holdings, Inc. (CWAN), reported multiple equity transactions on June 23, 2025, as detailed in a Form 4 filing.
• He acquired 10,334 shares of Class A Common Stock through the vesting of Restricted Stock Units (RSUs) that were originally issued on June 11, 2024.
• Concurrently, Mr. Aigrain disposed of 2,481 shares of Class A Common Stock at a price of $21.65 per share, a common practice for covering tax obligations related to RSU vesting.
• Following these transactions, his direct beneficial ownership of Class A Common Stock stands at 20,481 shares.
• Additionally, Mr. Aigrain was granted two new tranches of Restricted Stock Units: 8,765 RSUs that will vest fully on the date of the next annual shareholder meeting, and 6,574 RSUs that will vest equally over three years starting June 23, 2025.
• His total beneficial ownership of unvested Restricted Stock Units is now 15,339.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While there's a disposition of shares, it's likely for tax purposes related to RSU vesting, which is a common and expected event. The significant grant of new RSUs indicates continued long-term incentive alignment for the director.

Positives

• Acquisition of 10,334 shares of Class A Common Stock through RSU vesting, increasing direct equity ownership.
• Grant of 8,765 new Restricted Stock Units, aligning the director's interests with long-term shareholder value.
• Grant of 6,574 new Restricted Stock Units, further strengthening long-term incentive alignment and retention.

Negatives

• Disposition of 2,481 shares of Class A Common Stock at $21.65 per share, likely for tax withholding, which reduces the direct share count.

Future Outlook

The document indicates future vesting events for newly granted Restricted Stock Units. Specifically, 8,765 RSUs will vest fully on the date of the next annual shareholder meeting, and 6,574 RSUs will vest equally over three years beginning June 23, 2025.

Industry Context

NA

Stakeholder Impact

• Shareholders: The report provides transparency on director equity ownership and compensation structure, which can influence investor confidence. The disposition of shares for tax purposes is a routine event and not indicative of a lack of confidence. The new RSU grants align the director's interests with long-term shareholder value.

Next Steps

• The next annual shareholder meeting date will determine the vesting of 8,765 Restricted Stock Units.
• The 6,574 Restricted Stock Units will continue to vest equally over the next three years, starting June 23, 2025.

Key Dates

Recommendation

Keywords

Clearwater Analytics Holdings Inc., CWAN, SEC Form 4, Insider Trading, Beneficial Ownership, Restricted Stock Units, RSU Vesting, Equity Compensation, Director Transactions, Stock Disposition