Five Clearwater Analytics Insiders Sell $13.3M in CWAN — All at Exactly $23.44 Per Share

Five Clearwater Analytics executives — spanning CEO, CFO, CTO, CRO, and Chief Client Officer — sold a combined $13.31 million in CWAN stock on February 18, 2026. Every single transaction executed at an identical price of $23.44 per share, confirming this was a coordinated block disposition.

Same Day, Same Price, Five Sellers

Insider	Title	Transactions	Value	Shares After	Career Sales
Sandeep Sahai	Chief Executive Officer	3	$5.48M	1,357,138	$29.6M
James Cox	Chief Financial Officer	3	$2.20M	474,114	$18.2M
Souvik Das	Chief Technology Officer	3	$2.08M	207,132	$6.5M
Subi Sethi	Chief Client Officer	3	$1.80M	365,490	$5.8M
Scott Erickson	Chief Revenue Officer	3	$1.75M	138,630	$13.3M
Total: 5 insiders, 15 transactions			$13.31M

Why $23.44?

When five different executives sell at exactly the same price, there's only one explanation: a pre-arranged block trade. The company likely worked with a broker to execute all five dispositions as a single coordinated event, which explains the identical per-share pricing across all 15 transactions.

This approach is common for mid-cap companies where individual insider sales might otherwise move the stock. By aggregating five sellers into one block, the company minimizes market impact.

CEO Sahai Leads with $5.48M

Sandeep Sahai sold 233,851 shares across 3 transactions — the largest block by dollar value. His $29.6M in career sales versus 1.36 million shares retained (~$31.8M at current prices) shows he's sold roughly as much as he currently holds.

CFO James Cox follows at $2.20M, with $18.2M in career sales. His retained 474,114 shares (~$11.1M) means he's sold more than he currently owns — a pattern that favors monetization over accumulation.

The Full C-Suite Participated

What makes this event notable isn't any single sale — it's the 100% C-suite participation rate:

• CEO — sold $5.48M (41% of total)
• CFO — sold $2.20M (17%)
• CTO — sold $2.08M (16%)
• CCO — sold $1.80M (14%)
• CRO — sold $1.75M (13%)

When every revenue-facing and technology executive sells on the same day at the same price, it represents a collective assessment of the stock's value — even if the mechanism is administrative.

Career Selling Context

Combined, these five executives have sold $73.4 million in CWAN stock over their careers. Clearwater Analytics, which provides cloud-based investment management software, has a market cap of approximately $6 billion. The insider selling represents a small fraction of the company, but the unanimity is the signal here — not the size.

For CWAN investors, the coordinated block trade format makes this less alarming than five independent market sales would be. But the all-hands nature of the selling — CEO, CFO, CTO, CCO, and CRO simultaneously — means the entire operational leadership team chose this price level as one worth taking money off the table.