Company: CWAN
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001628280-25-021833
Chunk: 31

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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,551255,458,196111,716,731Diluted net earnings per share attributable to Class A and Class D common stockholders$0.03 $0.03 $0.01 $0.01 Shares of the Company's Class B and Class C common stock do not participate in the earnings or losses of the Company and are therefore not participating securities. As such, separate presentation of basic and diluted earnings per share of Class B and Class C common stock under the two-class method has not been presented.The following weighted-average potentially dilutive securities were evaluated under the treasury stock method for potentially dilutive effects and have been excluded from diluted net earnings per share due to their anti-dilutive effect:Three Months EndedMarch 31,20252024Conversion of Class C common stock12,542,110 — Stock options of Clearwater Analytics Holdings, Inc.1,042641,357RSUs of Clearwater Analytics Holdings, Inc.36,259421,141Total12,579,4111,062,498

16

Note 11. Equity-Based Compensation

In September 2021, the Board of Directors of the Company (the “Board”) adopted the Clearwater Analytics Holdings, Inc. 2021 Omnibus Incentive Plan (the “2021 Plan”), pursuant to which employees, consultants and directors of our Company and our affiliates performing services for us, including our executive officers, are eligible to receive awards. The 2021 Plan provides for the grant of stock options, stock appreciation rights, restricted stock, restricted stock units (“RSUs”), bonus stock, dividend equivalents, other stock-based awards, substitute awards, annual incentive awards and performance awards intended to align the interests of participants with those of our shareholders. A total of 69,200,278 shares of common stock are authorized for issuance under the 2021 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.OptionsThe following table summarizes the stock option activity for the three months ended March 31, 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(688,230)5.90 15,