Company: CWAN
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001628280-25-021833
Chunk: 32

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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088 Forfeited(10,468)13.91 Balance - March 31, 20258,816,043$8.61 4.93$160,345 Options vested - March 31, 20258,676,886$8.52 $158,633 The aggregate intrinsic value as of March 31, 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 March 31, 2025. As of March 31, 2025, the total unrecognized compensation expense related to unvested options was $0.6 million, which is expected to be recognized over a weighted average period of 0.5 years.RSUsThe summary of RSU activity for the three months ended March 31, 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 Granted2,511,91227.71 Released(3,999,389)19.08 Cancelled(164,119)20.04 Unvested units as of March 31, 202510,524,114$21.16 $282,046 The aggregate intrinsic value disclosed in the above table is based on the closing stock price on the NYSE on March 31, 2025. As of March 31, 2025, there was $178.3 million of unrecognized equity-based compensation expense related to RSUs, which is expected to be recognized over a weighted average period of 2.3 years.Employee Stock Purchase PlanIn September 2021, the Board adopted the Clearwater Analytics Holdings, Inc. 2021 Employee Stock Purchase Plan (“ESPP”). As of March 31, 2025, a total of 7,260,919 shares of Class A common stock were available for issuance under the ESPP. The offering periods are scheduled to start on June 1 and December 1 of each year. Eligible employees may purchase the Company's common stock through payroll deductions at a price equal to 85% of the lower of the fair market values of the stock as of the beginning or the end of six-month offering periods. An employee's payroll deductions under 

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the ESPP are limited to