Company: CWAN
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001193125-25-058975
Chunk: 305

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 305
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 the DGCL, following which such shares shall automatically be canceled and shall cease to exist (such shares, the “Dissenting Shares”); , , that if, after the
Effective Time, such owner fails to perfect, effectively withdraws or validly waives or loses such owner’s right to appraisal, pursuant to Section 262 of the DGCL or if a court of competent jurisdiction shall determine that such owner is
not entitled to the relief provided by Section 262 of the DGCL, such shares of Class A Common Stock shall be treated as if they had been converted as of the Effective Time into the right to receive the Merger Consideration in accordance
with upon surrender of such Certificate formerly representing such share. The Company shall provide Parent prompt written notice and copies of any demands received by the Company for appraisal of shares of
Company Common Stock, any withdrawal of any such demand and any other demand, notice or instrument delivered to the Company prior to the Effective Time pursuant to Section 262 of the DGCL or that relates to a demand for an appraisal, and Parent
shall have the opportunity and right to participate in all negotiations and Proceedings with respect to such demands. Prior to the Effective Time, the Company shall not, without the prior written consent of Parent (which shall not be unreasonably
withheld, conditioned or delayed), make any payment with respect to, or settle or offer to settle, any such demands, or agree to do any of the foregoing.

Section 2.06 Company Equity Awards; ESPP.

(a) . Immediately prior to the Effective Time, without any action on the part of Parent, Merger Sub, the Company
or the holders thereof, each outstanding Company Stock Option shall be treated as follows:

(i) In-the-MoneyCompany Stock Options. Each In-the-Money Company Stock Option, whether vested
or unvested, shall be cancelled and converted into the right to receive an amount in cash, without interest thereon, equal to the product obtained by multiplying (1) the number of shares of Company Common Stock subject to such In-the-Money Company Stock Option as of immediately prior to the

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Effective Time by (2) the excess, if any, of the Per Share Cash Consideration over the exercise price per share of such
In-the-Money Company Stock Option (the “Option Consideration”), subject to applicable withholding taxes.

(ii)
Out-of-the-MoneyCompany Stock Options. Each Out-of-the-Money Company Stock Option shall be forfeited and cancelled