Form 4: Clearwater Analytics Director Sells Shares in Merger

Eric J. Lee, a Director at Clearwater Analytics Holdings, Inc., has disposed of Class A and Class B common stock and LLC interests as part of a merger transaction.

Summary

• Eric J. Lee, a Director of Clearwater Analytics Holdings, Inc., reported transactions on June 25, 2026, related to the company's merger.
• The transactions involved the disposition of Class A common stock, Class B common stock, and CWAN Holdings LLC Interests.
• These dispositions were made in accordance with an Agreement and Plan of Merger dated December 20, 2025.
• Each share of Class A Common Stock was converted into $24.55 in cash per share as part of the merger consideration.
• Prior to the merger's effective time, LLC Interests were exchanged for Class A Common Stock, which then received the merger consideration.
• Lee directly holds some of the disposed securities, while others are held through the Eric J Lee 2014 Irrevocable Trust.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this filing as having a negative sentiment due to a director's complete divestiture of all holdings, which often signals a lack of confidence or a conclusion of their involvement post-merger.

Negatives

• Director Eric J. Lee has disposed of all his Class A and Class B common stock and LLC interests in Clearwater Analytics Holdings, Inc.

Future Outlook

The filing details a completed merger transaction, indicating a significant change in the company's ownership structure. No specific future outlook for the company's operations is provided in this filing.

Industry Context

StockSavvy.ai notes that Form 4 filings, particularly those detailing significant dispositions by directors, are crucial for understanding insider sentiment and potential shifts in corporate control, especially during merger events.

Stakeholder Impact

• Shareholders of Clearwater Analytics Holdings, Inc. have had their Class A Common Stock converted into cash ($24.55 per share) as part of the merger.
• The disposition of shares by Director Eric J. Lee may signal a change in leadership or strategic direction for the entity post-merger.

Next Steps

• The merger transaction has been completed.
• Eric J. Lee has disposed of all his beneficial ownership in Clearwater Analytics Holdings, Inc.

Key Dates

Keywords

Clearwater Analytics Holdings, CWAN, Form 4, Insider Trading, Merger, Director Transaction, Stock Disposition, Beneficial Ownership