Commvault (CVLT) Form 144 Shows Large May Insider Sales and August Planned Sale

Rhea-AI Filing Summary

Form 144 notice for Commvault Systems, Inc. (CVLT) reporting proposed sale of 2,594 common shares through Morgan Stanley Smith Barney on 08/18/2025 with an aggregate market value of $466,971.88. The filing lists acquisition entries showing the filer acquired 3,505 restricted shares and 2,243 performance shares on 08/15/2025 from the issuer, with payment noted as not applicable. The filing also discloses multiple open-market sales by Gary Merrill during May 2025 totaling 36,827 shares and gross proceeds of $6,539,565.26. The filer certifies no undisclosed material adverse information.

Positive

• Filing compliance: The Form 144 provides required details (broker, share counts, market value, outstanding shares) demonstrating procedural compliance with Rule 144
• Transparency on recent sales: The filing discloses multiple May 2025 insider sales with specific dates, amounts, and gross proceeds
• New grants disclosed: Acquisition entries show issuance of 3,505 restricted and 2,243 performance shares from the issuer

Negative

• Substantial insider selling: Gary Merrill sold 36,827 shares in May 2025 producing aggregate gross proceeds of $6,539,565.26, which may affect investor sentiment
• Planned sale shortly after grants: The notice reports a proposed sale of 2,594 shares on 08/18/2025 following reported acquisitions dated 08/15/2025, which could raise questions about immediate post-grant disposition
• Concentration risk: Insider sales represent a non-trivial block relative to the outstanding share count of 44,513,830

Insights

Securities Analyst

TL;DR Significant insider selling in May and a new planned sale are disclosed; monitor for potential dilution or sentiment impact.

The filing documents a planned sale of 2,594 common shares via Morgan Stanley Smith Barney with an indicated aggregate market value of $466,971.88 and shows recent large open-market dispositions by an insider (36,827 shares sold in May 2025 for aggregate proceeds of $6,539,565.26). It also reports acquisitions of restricted and performance stock dated 08/15/2025 totaling 5,748 shares. For investors, the material facts are the quantum and timing of insider sales which may affect market perception; the filing is procedural compliance with Rule 144.

Corporate Governance Specialist

TL;DR Disclosure is complete for Rule 144 purposes; the size and frequency of insider sales are notable but not proof of undisclosed issues.

The notice appears to meet Rule 144 disclosure requirements: broker, share class, number of shares, market value, outstanding shares count (44,513,830), and recent sales history are provided. Material items: repeated May 2025 sales by Gary Merrill and new proposed sale in August 2025. The filing includes issuer-originated acquisitions (restricted/performance stock). There is no statement of material adverse information per the signer. This is a governance/compliance disclosure rather than a corporate-operational update.

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

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 1 New York Plaza 38th Floor New York NY 10004	2594	466971.88	44513830	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	08/15/2025	Restricted Stock	ISSUER			3505	08/15/2025	Not Applicable
COMMON	08/15/2025	Performance Stock	ISSUER			2243	08/15/2025	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
GARY MERRILL 1 COMMVAULT WAY TINTON FALLS NJ 07724	COMMON	05/27/2025	214	37638.32
GARY MERRILL 1 COMMVAULT WAY TINTON FALLS NJ 07724	COMMON	05/22/2025	1748	305734.09
GARY MERRILL 1 COMMVAULT WAY TINTON FALLS NJ 07724	COMMON	05/20/2025	8195	1474004.94
GARY MERRILL 1 COMMVAULT WAY TINTON FALLS NJ 07724	COMMON	05/19/2025	13435	2360229.91
GARY MERRILL 1 COMMVAULT WAY TINTON FALLS NJ 07724	COMMON	05/16/2025	13235	2361958

144: Remarks and Signature

Remarks

Date of Notice

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 for Commvault Systems (CVLT) disclose?

The notice discloses a proposed sale of 2,594 common shares via Morgan Stanley Smith Barney on 08/18/2025 with aggregate market value $466,971.88, recent May 2025 insider sales totaling 36,827 shares and gross proceeds of $6,539,565.26, and acquisitions of restricted and performance stock dated 08/15/2025.

Who conducted the brokered sale listed on the Form 144?

The filing names Morgan Stanley Smith Barney, LLC (1 New York Plaza, 38th Floor, New York, NY) as the broker for the proposed sale.

How many shares does Commvault report outstanding in this filing?

The filing reports 44,513,830 shares outstanding for the class of common stock.

How much did Gary Merrill sell in May 2025 according to the filing?

Gary Merrill sold 36,827 shares across five transactions in May 2025 for aggregate gross proceeds of $6,539,565.26.

Does the filing indicate any undisclosed material adverse information?

By signing the notice, the person represents they do not know any material adverse information about the issuer that has not been publicly disclosed.