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Clearwater Analytics Holdings Executive Compensation (FY24)

CWAN · Boise, ID · Executive and director compensation, fiscal 2022 to 2024
Data as of September 7, 2026Latest filing (DEF 14A): April 29, 2025
197 figures on this page, cited to the filing that reported them. See the citations
Total compensation for Sandeep Sahai, Chief Executive Officer and Director, came to $11,123,831 in fiscal 2024, and Sahai's total moved 65.6% lower from the $32,300,214 reported for fiscal 2023. For fiscal 2024, the company reported a chief executive pay ratio of 131:1, against median employee compensation of $84,713. The disclosed peer group includes Alkami Technology, Inc., AppFolio, Inc., Asana, Inc., BlackLine, Inc. and Braze, Inc., among others. For fiscal 2024, the company reported 5 named executive officers.
Chief executive, fiscal 2024
◇
Sandeep Sahai
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2023 to fiscal 2024
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Sandeep Sahai: $32,300,214 → $11,123,831 (65.6% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Clearwater Analytics Holdings' chief executive and what were they paid?
Total compensation for Sandeep Sahai, Chief Executive Officer and Director, came to $11,123,831 in fiscal 2024. Sahai's total moved 65.6% lower from the $32,300,214 reported for fiscal 2023.
Which companies are in Clearwater Analytics Holdings' peer group?
The disclosed peer group includes Alkami Technology, Inc., AppFolio, Inc., Asana, Inc., BlackLine, Inc. and Braze, Inc., among others.
What is Clearwater Analytics Holdings' chief executive pay ratio?
For fiscal 2024, the company reported a chief executive pay ratio of 131:1, against median employee compensation of $84,713.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Souvik Das
Chief Technology Officer
◇—◇—◇—◇◇
Sandeep Sahai
Chief Executive Officer
◇———◇—◇◇
Jim Cox
Chief Financial Officer
◇———◇—◇◇
Scott Erickson
President, Americas and Asia
◇———◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Sandeep Sahai
Chief Executive Officer and Director
◇—◇—◇—◇◇
Jim Cox
Chief Financial Officer
◇—◇—◇—◇◇
Souvik Das
Chief Technology Officer
◇◇◇—◇—◇◇
Scott Erickson
Chief Revenue Officer
◇—◇—◇—◇◇
Subi Sethi
Chief Client Officer
◇◇◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Sandeep Sahai
Chief Executive Officer and Director
◇◇◇—◇—◇◇
Subi Sethi
Chief Operating Officer
◇◇◇—◇—◇◇
Souvik Das
Chief Technology Officer
◇◇◇—◇—◇◇
Jim Cox
Chief Financial Officer
◇◇◇—◇—◇◇
Scott Erickson
Chief Revenue Officer
◇◇◇—◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2024
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Jim CoxPSU◇◇◇—◇—◇
Jim CoxRSU◇——◇——◇
Sandeep SahaiPSU◇◇◇—◇—◇
Sandeep SahaiRSU◇——◇——◇
Scott EricksonPSU◇◇◇—◇—◇
Scott EricksonRSU◇——◇——◇
Souvik DasRSU◇——◇——◇
Souvik DasPSU◇◇◇—◇—◇
Subi SethiPSU◇◇◇—◇—◇
Subi SethiRSU◇——◇——◇
Fiscal 2023 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2024 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Subi SethiOption◇—◇3/8/2031
Option◇—◇1/2/2030
Option◇—◇1/21/2030
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Souvik DasRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇8/2/2031
RSU◇◇——
Sandeep SahaiRSU◇◇——
Option◇—◇3/8/2031
RSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇1/21/2030
Jim CoxRSU◇◇——
Option◇—◇3/8/2031
RSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇1/21/2030
Scott EricksonOption◇—◇1/21/2030
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇3/8/2031
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2024
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Kathleen A. Corbet
◇◇————◇
Lisa Jones
◇◇————◇
Jacques Aigrain
◇◇————◇
Jaswinder Pal Singh
◇◇————◇
Andrew Young, D. Scott Mackesy, Sandeep Sahai, Cary Davis, Christopher Hooper and Eric Lee served on the board in fiscal 2024 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Board chair premium◇
Audit committee chair◇
Audit committee member◇
Equity is delivered as restricted stock units.
Stock ownership guideline: Executive and Director Stock Ownership Guidelines referenced on page 32, but specific requirement details not included in the provided text excerpt.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2024
  • Alkami Technology, Inc. ALKT
  • AppFolio, Inc. APPF
  • Asana, Inc. ASAN
  • BlackLine, Inc. BL
  • Braze, Inc. BRZE
  • C3.ai, Inc. AI
  • CCC Intelligent Solutions Holdings Inc. CCC
  • Confluent, Inc. CFLT
  • DoubleVerify Holdings, Inc. DV
  • Everbridge, Inc. EVBG
  • Guidewire Software, Inc. GWRE
  • JFrog Ltd. FROG
  • nCino, Inc. NCNO
  • PagerDuty, Inc. PD
  • Paylocity Holding Corporation PCTY
  • Q2 Holdings, Inc. QTWO
  • Smartsheet, Inc. SMAR
  • Sprout Social, Inc. SPT
  • Varonis Systems, Inc. VRNS
  • Vertex, Inc. VERX

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact Clearwater Analytics Holdings disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Clearwater Analytics Holdings sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
197 figures on this page, cited to the filing that reported them.
197 cited to the filing

Documents cited

  1. 0001628280-25-020660
    2024 Summary Compensation Table · CEO Pay Ratio · Director Compensation · Grants of Plan-Based Awards · and 1 more section
  2. 0001628280-24-018800
    2023 Summary Compensation Table · EXECUTIVE COMPENSATION TABLES
  3. 0001193125-23-124125
    2022 Summary Compensation Table
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Velarion, “Clearwater Analytics Holdings executive compensation, FY2022–FY2024.” https://intel.velarion.ai/comp/CWAN (accessed 2026).
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Tech — Software rankings

Chief executive pay — Tech — SoftwareCEO pay ratio — Tech — SoftwareSay-on-pay support — Tech — Software

Peers Clearwater Analytics Holdings discloses

The companies named in CWAN's own disclosed peer group.

AppFolio, Inc.Asana, Inc.BlackLine, Inc.Braze, Inc.C3.ai, Inc.CCC Intelligent Solutions Holdings Inc.Confluent, Inc.DoubleVerify Holdings, Inc.Guidewire Software, Inc.JFrog Ltd.nCino, Inc.PagerDuty, Inc.Paylocity Holding CorporationQ2 Holdings, Inc.Varonis Systems, Inc.Vertex, Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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