Form 4: Clearwater Analytics Holdings Director Sells Shares in Merger

Mukesh Aghi, a Director at Clearwater Analytics Holdings, Inc., reported the disposition of 15,339 Restricted Stock Units (RSUs) due to a merger transaction.

Summary

• Mukesh Aghi, a Director at Clearwater Analytics Holdings, Inc. (CWAN), has reported the disposition of 15,339 Restricted Stock Units (RSUs).
• These RSUs were converted into a cash payment of $24.55 per share as part of a merger agreement.
• The transaction occurred on June 25, 2026, with the earliest transaction date noted as June 25, 2026.
• The RSUs were originally scheduled to vest in stages: 5,113 on June 23, 2026, 5,113 on June 23, 2027, and 5,113 on June 23, 2028.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it reports a standard insider transaction related to a merger, with no indication of positive or negative performance beyond the terms of the acquisition.

Negatives

• Director Mukesh Aghi disposed of all reported Restricted Stock Units.
• The disposition was a result of a merger, indicating a change in the company's ownership structure.

Risks

• The merger agreement, dated December 20, 2025, outlines the terms of the acquisition by GT Silver BidCo, Inc.
• All outstanding vested awards and Director RSUs were canceled in exchange for a cash payment, suggesting a delisting or significant change in equity structure.

Future Outlook

The filing indicates that all outstanding vested awards and Director RSUs were canceled in exchange for a cash payment as part of the merger. This implies the cessation of these equity awards for the reporting person.

Industry Context

StockSavvy.ai notes that Form 4 filings related to mergers are common as insiders often realize gains or adjust their holdings as part of such transactions. The $24.55 per share merger consideration provides a specific valuation point for Clearwater Analytics Holdings.

Stakeholder Impact

• Shareholders will receive $24.55 in cash per share, representing a realization of their investment.
• Director Mukesh Aghi will receive a cash payment for his vested RSUs, concluding his equity participation in the company.
• Employees with unvested RSUs may have their awards converted to cash or canceled based on the merger agreement terms.

Next Steps

• The merger is expected to be completed, resulting in the conversion of shares and equity awards into cash.
• Further filings may be expected from other insiders and the company regarding the merger's completion.

Key Dates

Keywords

Clearwater Analytics Holdings, CWAN, Form 4, Insider Transaction, Merger, Restricted Stock Units, RSU, Director, Mukesh Aghi, Securities Exchange Act