Company: CWAN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001866368-25-000018
Chunk: 90

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 90
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1 Plan. In connection with the approval of the 2021 Plan, the 2017 Equity Incentive Plan was terminated and all outstanding stock options and RSUs were transferred to the 2021 Plan. In connection with the acquisition of Enfusion, we assumed the Enfusion 2021 Stock Option and Incentive Plan.OptionsThe following table summarizes the stock option activity for the six months ended June 30, 2025 (in thousands, except per share data): Stock Options Weighted Average Exercise PriceWeighted Average Remaining Contractual Life (Years)Aggregate Intrinsic ValueBalance - December 31, 20249,514,741$8.42 5.13$181,714 Exercised(1,293,307)5.74 25,785 Forfeited(12,083)13.96 Balance - June 30, 20258,209,351$8.84 4.96$107,548 Options vested - June 30, 20258,118,652$8.79 $106,734 The aggregate intrinsic value as of June 30, 2025 disclosed in the above table is based on the difference between the exercise price of the stock option and the estimated fair value of the Company’s common stock as of June 30, 2025. As of June 30, 2025, the total unrecognized compensation expense related to unvested options was $0.2 million, which is expected to be recognized over a weighted average period of 0.4 years.RSUsThe summary of RSU activity for the six months ended June 30, 2025 is as follows (in thousands, except per share data):Units Activity Weighted Average Grant Date Fair ValueAggregate Intrinsic ValueUnvested units as of December 31, 202412,175,710$19.12 $335,076 Granted6,074,367 21.43 Released(4,797,517)19.45 Cancelled(603,274)20.74 Unvested units as of June 30, 202512,849,286$21.42 $281,785 The aggregate intrinsic value disclosed in the above table is based on the closing stock price on the NYSE on June 30, 2025. As of June 30, 2025, there was $201.4 million of unrecognized equity-based compensation expense related to RSUs, which