Clearwater Analytics Holdings Inc. reported a notable insider transaction on February 18, 2026, when Chief Revenue Officer Scott Stanley Erickson disposed of 74,530 shares of Class A common stock at a sale price of $23.4417 per share. The aggregate proceeds from that sale totaled $1,747,109.
On the same date, Erickson also received 140,248 Class A shares that vested from performance stock units. Those vested shares were recorded at a price of $0, reflecting their issuance through the companys equity compensation plan rather than an open-market purchase.
The insider activity coincides with several corporate developments for Clearwater. The company said its go-shop period, which was part of the terms surrounding a proposed acquisition by an investor group led by Permira and Warburg Pincus, expired without any alternative acquisition proposals. The absence of competing bids left the original transaction terms intact.
Market analysts reacted to the acquisition news with adjustments to coverage recommendations. Morgan Stanley lowered its rating on Clearwater from Overweight to Equalweight. UBS and DA Davidson also moved their ratings to Neutral, each citing the acquisition process as a factor in their reassessments.
Separately, Clearwater secured a multi-year mandate from Generali Deutschland AG to manage the insurers 80 billion unit-linked fund life insurance business on Clearwaters platform. The agreement is intended to consolidate Generalis portfolio management and related processes on Clearwaters systems.
Taken together, the insider sale and concurrent vesting, the closed go-shop process for the buyout led by Permira and Warburg Pincus, the subsequent analyst downgrades, and the generational client engagement with Generali Deutschland AG illustrate several simultaneous strategic and market-facing developments for Clearwater Analytics.
Contextual note: The facts in this report are limited to the transactions and company announcements described above. Where information is not specified, this article reflects those limitations rather than introducing additional detail.