Company: CWAN
Filing Date: 2025-12-22
Form Type: 8-K
Source: 0000950157-25-001016
Chunk: 1

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-12-22
Form: 8-K
Item: Item 1.01
Chunk 1
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 2025 and remain outstanding as of the Effective Time will be canceled in exchange for a cash award equal to the Merger Consideration multiplied by the number of
shares of Company Class A Common Stock subject to the award (determined assuming the achievement of any performance-vesting conditions at the maximum level), less the aggregate exercise price in the case of any award that is an option to purchase
shares of Company Class A Common Stock (an “ Option”). Options with an exercise price equal to or greater than the Merger Consideration will be canceled for no
consideration.

In the case of restricted stock units with respect to Company Class A Common Stock (an “ RSU”)

held by a non-employee member of the Board and all other RSUs that are vested as of the Effective Time, the resulting cash award will be fully vested at the Effective Time. In the case of all other RSUs, the resulting cash award will remain
subject to all time-vesting terms and conditions that applied to the underlying award as of the Effective Time. The Merger Agreement provides for the ability of the Company to grant additional RSUs after December 20, 2025, subject to certain terms
and conditions set forth in the Merger Agreement, with the Company and Parent to cooperate to determine the appropriate treatment of such awards in connection with the Merger prior to the Company granting such awards.

The Merger Agreement contains customary representations and warranties of the Company. Additionally, the Merger Agreement provides for customary
pre-closing covenants of the Company, including covenants relating to (i) conducting its business in the ordinary course and (ii) refraining from taking certain actions without Parent’s consent.

The consummation of the Merger is subject to certain closing conditions, including, among other things: (i) the approval of the Company’s stockholders;
(ii) the expiration or early termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended; (iii) the receipt of certain other regulatory approvals or consents; (iv) the absence of legal
restraints prohibiting the Merger and(v) other customary conditions specified in the Merger Agreement.

During the period beginning on the date of the Merger Agreement and continuing until midnight, New York City time, on January 23, 2026 (i. e., one minute
after 11:59 p. m., New York City time, on January 22, 202