Company: CWAN
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001628280-25-020660
Chunk: 49

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 49
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 amount of value delivery through RSUs, which have upside potential but also deliver some value even if revenue does not grow, while reinforcing an ownership culture and commitment to us.

Time-based RSUs vest 25% per year over four years, subject to the NEO's continued employment with us.

PSUs Vesting

For fiscal year 2024, the Company produced an annual revenue growth rate of 22.7%. The 33.33% portion of the PSU grant made in February 2024 relating to 2024 thus achieved target performance, translating to 100% of such PSUs being earned, subject to certification by the Committee and continued employment through the date of payment, which occurred in February 2025.

Messrs. Sahai, Cox, Erickson and Das and Ms. Sethi received grants of PSUs in 2021 and 2023, and Mr. Das received a PSU grant in 2022, in each case, having terms similar to those that applied to the PSUs granted in 2024. The 33.33% of such grants relating to the fiscal year 2024 annual performance period had performance achievement at target, translating to 100% of such PSUs being earned, subject to certification by the Committee and continued employment through the date of payment, which occurred in February 2025.

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In the case of the PSUs granted to the NEOs in 2021, 2022, 2023 and 2024, as applicable, the Committee certified the performance against the applicable annual revenue growth targets relating to performance during the 2024 performance period on February 19, 2025 as set forth below:

|                |     |    PSUs |
| NEO            |     |      -# |
| Sandeep Sahai  |     | 393,759 |
| James Cox      |     | 173,786 |
| Scott Erickson |     | 125,231 |
| Souvik Das     |     | 118,750 |
| Subi Sethi     |     |  90,100 |

Equity Grant Timing and Practices

Since prior to our IPO, the Company has not granted any option awards to any NEO, employee, and director. The Company’s practice has been to grant our NEOs RSUs and PSUs under the 2021 Plan on a predetermined schedule, typically occurring during the Committee’s February meeting for such fiscal year, on the date that the Committee certifies