Form 4: Clearwater Analytics Holdings Merger: Aigrain Disposes Shares

Jacques Aigrain, a Director at Clearwater Analytics Holdings, Inc., reported the disposition of Class A Common Stock, Restricted Stock Units, and Stock Options as part of a merger transaction.

Summary

• Jacques Aigrain, a Director of Clearwater Analytics Holdings, Inc. (CWAN), reported transactions on June 25, 2026, related to the company's merger.
• Aigrain disposed of 20,481 shares of Class A Common Stock at a price of $24.55 per share.
• Restricted Stock Units (RSUs) totaling 15,339 were also disposed of, with a cash payment equivalent to the merger consideration.
• Stock options, with exercise prices of $12.40 and $18.68, totaling 48,387 and 21,413 respectively, were disposed of as well.
• These transactions are in connection with the Agreement and Plan of Merger dated December 20, 2025, where CWAN's Class A Common Stock was converted into cash at $24.55 per share.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it primarily reports on mandatory disclosures of insider transactions related to a completed merger, rather than new operational or financial performance.

Negatives

• Director Jacques Aigrain has disposed of all his directly held Class A Common Stock, RSUs, and Stock Options.
• The disposition of securities is a result of a merger where shareholders receive a cash payout, indicating the company will no longer be publicly traded in its current form.

Future Outlook

The filing indicates that Clearwater Analytics Holdings, Inc. is being acquired, and its Class A Common Stock will be converted into cash. This suggests the company will cease to be a publicly traded entity in its current form.

Industry Context

StockSavvy.ai notes that this Form 4 filing details insider transactions related to a merger, a common occurrence in the financial technology and data analytics sector as companies are acquired or taken private.

Stakeholder Impact

• Shareholders will receive $24.55 in cash per share, representing a realization of their investment.
• Employees may experience changes in employment terms or roles following the completion of the merger.
• Creditors' positions will likely remain unchanged in the short term, but future financial arrangements will depend on the acquiring entity.

Next Steps

• Completion of the merger transaction as per the Agreement and Plan of Merger.
• Conversion of Clearwater Analytics Holdings, Inc. Class A Common Stock into cash consideration for shareholders.

Key Dates

Keywords

Merger, Form 4, SEC Filing, Insider Transaction, Clearwater Analytics Holdings, CWAN, Stock Disposition, Restricted Stock Units, Stock Options, Director