Company: CWAN
Filing Date: 2025-03-07
Form Type: 10-K/A
Source: 0001628280-25-011307
Chunk: 26

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-07
Form: 10-K/A
Chunk 26
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 | 300,000 |     |   75,000 |     | 300,000 |
| Subi Sethi     |     |  125,000 |     | 200,000 |     |  125,000 |     | 200,000 |

PSUs

The Committee selected the PSU performance metric of one year revenue growth because it is a key indicator of our growth in terms of acquisition and retention of our customers and utilization of our products. The Committee’s view is that the Company has a unique opportunity in the market and that it is imperative to incentivize growth. It selected this metric, even though revenue is a component of the NEO scorecards in the annual cash incentive program, because it focuses executive officers on the Company’s most critical strategic priority of top line revenue growth, and aligns the incentives for the CEO and other NEOs with the goals of growing the business and increasing market share.

The Committee defined payout levels representing the number of PSUs to be earned by executive officers based on the level of actual performance relative to the annual revenue growth targets.

The Committee determines the Company’s performance achievement percentage for each one-year period. The performance achievement percentage is then converted to an earning percentage as set forth below and, if at least the threshold level is achieved, such PSUs are earned and vested in the amounts set forth below, subject to continued employment through the applicable payment date.

These PSUs reflect the right to receive between 0% and 110% of one-third of the target number of PSUs granted to the NEO and are earned based on the Company's achievement of annual revenue growth for each calendar year in the performance period (i.e., in each of 2024, 2025 and 2026), subject to the NEO’s continued employment with the Company through the applicable payment date. Failure to achieve the annual revenue growth targets for any calendar year in the applicable three-year period will result in forfeiture of any PSUs that were not earned in respect of the relevant calendar year.

| Level of Achievement of Objectives |     | Performance Achievement %      |     | Earning Percentage |
| Below Threshold                    |     | Less than 18%                  |     | —%                 |
| Threshold                          |     | At least 18% and less than 20% |     | 80%                |
| Target                             |     | At least 20% and less than 23% |     | 100%               |
| Maximum                            |     | 23% or greater