<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0609</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2026-06-25</periodOfReport>

    <notSubjectToSection16>true</notSubjectToSection16>

    <issuer>
        <issuerCik>0001866368</issuerCik>
        <issuerName>Clearwater Analytics Holdings, Inc.</issuerName>
        <issuerTradingSymbol>CWAN</issuerTradingSymbol>
        <issuerForeignTradingSymbol></issuerForeignTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001661663</rptOwnerCik>
            <rptOwnerName>Aghi Mukesh</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerNonUSAddressFlag>false</rptOwnerNonUSAddressFlag>
            <rptOwnerStreet1>C/O CLEARWATER ANALYTICS HOLDINGS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>777 W. MAIN STREET, SUITE 900</rptOwnerStreet2>
            <rptOwnerCity>BOISE</rptOwnerCity>
            <rptOwnerState>ID</rptOwnerState>
            <rptOwnerZipCode>83702</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Restricted Stock Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.00</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2026-06-25</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>15339</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>24.55</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2035-06-23</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>15339</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The reported Restricted Stock Units (&quot;RSUs&quot;) vested or were scheduled to vest as follows: 5,113 vested RSUs on June 23, 2026; 5,113 shares on June 23, 2027; and 5,113 shares on June 23, 2028.</footnote>
        <footnote id="F2">The reported securities were disposed of pursuant to the terms of the Agreement and Plan of Merger (the &quot;Merger Agreement&quot;), dated as of December 20, 2025, by and among the Issuer, GT Silver BidCo, Inc. (&quot;Parent&quot;) and GT Silver Merger Sub, Inc., a wholly-owned subsidiary of Parent. Under the terms of the Merger Agreement, each share of the Issuer's Class A Common Stock (&quot;Common Stock&quot;) issued and outstanding immediately prior to the effective time of the Merger (the &quot;Effective Time&quot;) was converted into the right to receive an amount in cash equal to $24.55 per share, without interest (the &quot;Merger Consideration&quot;).</footnote>
        <footnote id="F3">At the Effective Time, all outstanding vested awards and Director RSUs with respect to Common Stock were canceled in exchange for a cash payment equal to the Merger Consideration multiplied by the number of shares of Common Stock subject to the award.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Alphonse Valbrune, as Attorney-in-Fact, for Mukesh Aghi</signatureName>
        <signatureDate>2026-06-25</signatureDate>
    </ownerSignature>
</ownershipDocument>
