Company: CWAN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001866368-25-000031
Chunk: 49

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 49
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 option activity for the nine months ended September 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(1,741,039)5.77 32,483 Forfeited(12,083)13.96 Balance - September 30, 20257,761,619$9.01 4.55$70,143 Options vested - September 30, 20257,710,838$8.99 $69,862 The aggregate intrinsic value as of September 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 Class A common stock as of September 30, 2025. As of September 30, 2025, the total unrecognized compensation expense related to unvested options was $0.1 million, which is expected to be recognized over a weighted average period of 0.2 years.RSUsThe summary of RSU activity for the nine months ended September 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 Granted6,559,874 21.65 Released(5,579,227)19.52 Cancelled(1,028,738)20.73 Unvested units as of September 30, 202512,127,619$21.53 $218,540 The aggregate intrinsic value disclosed in the above table is based on the closing stock price on the NYSE on September 30, 2025. As of September 30, 2025, there was $171.1 million of unrecognized equity-based compensation expense related to RSUs, which is expected to be recognized over a weighted average period of 2.2 years.Employee Stock Purchase PlanIn September 2021, the Board adopted the Clearwater Analytics Holdings, Inc. 2021 Employee Stock Purchase Plan (“ESPP”). As of September 30, 2025, a total of 7,092,009 shares of Class