Commvault Form 144 Shows May Insider Sales and Planned August Disposal

Rhea-AI Filing Summary

Form 144 notice for Commvault Systems, Inc. (CVLT). The filing shows a proposed sale of 4,621 common shares through Morgan Stanley Smith Barney on NASDAQ with an aggregate market value of $820,389.70 and an approximate sale date of 08/18/2025. The filer acquired 2,505 performance shares on 08/16/2024 and 2,116 on 08/15/2024. The document also lists multiple insider sales by Sanjay Mirchandani in May 2025 totaling 57,392 shares across several transactions with gross proceeds shown for each sale.

Positive

• Transparent disclosure of the broker, share count, market value, and planned sale date for the proposed transaction
• Performance share grants of 2,505 and 2,116 common shares on 08/16/2024 and 08/15/2024 are explicitly documented

Negative

• Substantial insider selling by Sanjay Mirchandani in May 2025 totaling 57,392 shares across multiple transactions with significant gross proceeds
• Proposed sale of 4,621 shares (aggregate value $820,389.70) could be viewed as insider monetization of recently granted performance shares

Insights

Securities Analyst

TL;DR: Insider has recently sold substantial CVLT shares; notice discloses a future planned sale and recent issuance of performance shares.

The filing documents a planned sale of 4,621 common shares valued at $820,389.70 to be executed via Morgan Stanley Smith Barney on NASDAQ. It also records that the filer received 4,621 performance shares across two grant dates in August 2024, matching the quantity proposed for sale. Separately, Sanjay Mirchandani executed multiple significant open-market sales in May 2025 totaling 57,392 shares with itemized gross proceeds. From a compliance perspective, the filing provides required transparency about timing, broker, and consideration for the transactions.

Corporate Governance Expert

TL;DR: Disclosure is routine but notable for size of recent insider sales; filings match compensatory grants to be monetized.

The Form 144 lists acquisition of performance shares in August 2024 and a proposed sale of the identical share count, which indicates disposition of recently granted awards. The detailed May 2025 sale entries for Sanjay Mirchandani show multiple transactions and explicit gross proceeds, satisfying disclosure norms. No statements in this filing indicate undisclosed material information about the issuer's operations.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	4621	820389.70	44459659	08/18/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	08/16/2024	Performance Shares	ISSUER			2505	08/16/2024	Not Applicable
Common	08/15/2024	Performance Shares	ISSUER			2116	08/15/2024	Not Applicable

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
SANJAY MIRCHANDANI 1 Commvault Way Tinton Falls NJ 07724	Common	05/22/2025	1709	299067.14
SANJAY MIRCHANDANI 1 Commvault Way Tinton Falls NJ 07724	Common	05/20/2025	10326	1857360.34
SANJAY MIRCHANDANI 1 Commvault Way Tinton Falls NJ 07724	Common	05/20/2025	3895	700858.51
SANJAY MIRCHANDANI 1 Commvault Way Tinton Falls NJ 07724	Common	05/19/2025	26094	4585762.17
SANJAY MIRCHANDANI 1 Commvault Way Tinton Falls NJ 07724	Common	05/19/2025	12967	2279832.01
SANJAY MIRCHANDANI 1 Commvault Way Tinton Falls NJ 07724	Common	05/19/2025	5301	932011.22

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the Form 144 filed for CVLT disclose?

It discloses a proposed sale of 4,621 common shares via Morgan Stanley Smith Barney on NASDAQ with an aggregate market value of $820,389.70 and lists recent acquisitions and sales by insiders.

Who executed recent insider sales disclosed in this filing?

SanJay Mirchandani executed multiple open-market sales in May 2025 totaling 57,392 shares with itemized gross proceeds for each transaction.

When were the performance shares that are being sold acquired?

The filer received 2,505 performance shares on 08/16/2024 and 2,116 performance shares on 08/15/2024, as shown in the filing.

Through which broker will the planned sale be executed?

The planned sale is to be executed through Morgan Stanley Smith Barney LLC, 1 New York Plaza, 8th Floor, New York, NY 10004.

What is the approximate date of the planned sale?

The filing lists an approximate sale date of 08/18/2025 for the 4,621 shares.