[144] Commault Systems, Inc. SEC Filing

Rhea-AI Filing Summary

Form 144 notice for Commvault Systems, Inc. (CVLT) shows an insider intends to sell 16,348 shares of common stock through Morgan Stanley Smith Barney on 08/19/2025 on NASDAQ with an aggregate market value of $2,889,338.98. The filing lists total shares outstanding of 44,459,659. The shares to be sold were acquired as issuer awards: 6,182 restricted shares on 08/15/2025 and performance share awards of 7,750 and 2,416 on 05/16/2024 and 05/17/2024, respectively. Recent activity shows Sanjay Mirchandani sold 27,250 shares in the past three months for aggregate gross proceeds of $4,870,330.14. Certain filer identification fields in the form (CIK/CCC/contact details) appear blank in the provided content.

Positive

• Transparent disclosure of planned insider sale including broker, sale date, and aggregate market value
• Securities originate from issuer grants (restricted stock and performance shares), indicating compensation-derived holdings

Negative

• Significant insider selling in the past three months: 27,250 shares for $4,870,330.14, which may be viewed negatively by some investors
• Filer identification and signature/plan-adoption details are not present in the provided content, limiting confirmation of compliance specifics

Insights

Financial Analyst

TL;DR: An executive is scheduling a planned sale of 16,348 CVLT shares valued at roughly $2.9M; recent sales totaled 27,250 shares for about $4.87M.

The notice documents a routine Rule 144 sale of common stock on NASDAQ through Morgan Stanley Smith Barney. The securities to be sold derive from issuer grants: restricted stock and performance shares delivered between May 2024 and August 2025, which indicates compensation-related holdings being monetized. Recent disposals by the same person in May and August 2025 are quantifiable and material in absolute dollars. For investors, this is a disclosure of insider liquidity rather than an operational report; the filing itself does not state motives, trading plan dates, or any material nonpublic information.

Corporate Governance Expert

TL;DR: The Form 144 is a standard compliance disclosure showing insider sales of equity awards; signature and plan-adoption details are not provided in the excerpt.

The submission lists the required representations under Rule 144 but the provided content does not show a signed certification, plan-adoption date for any 10b5-1 arrangement, or full filer identifying information. From a governance and disclosure perspective, the filing fulfills transaction reporting by identifying broker, share counts, acquisition dates, and recent sales. Absence of explicit plan dates or signature blocks in the supplied text limits conclusions about whether sales follow an established trading plan.

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	16348	2889338.98	44459659	08/19/2025	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			6182	08/15/2025	Not Applicable
Common	05/16/2024	Performance Shares	ISSUER			7750	05/16/2024	Not Applicable
Common	05/17/2024	Performance Shares	ISSUER			2416	05/17/2024	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	08/18/2025	6699	1192654.45
SANJAY MIRCHANDANI 1 Commvault Way Tinton Falls NJ 07724	Common	08/18/2025	2116	375664.27
SANJAY MIRCHANDANI 1 Commvault Way Tinton Falls NJ 07724	Common	08/18/2025	2505	444725.43
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

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 is being reported in the CVLT Form 144?

The filing reports a proposed sale of 16,348 common shares to be executed on 08/19/2025 via Morgan Stanley Smith Barney with an aggregate market value of $2,889,338.98.

Who is the seller named in the filing?

The past sales listed identify Sanjay Mirchandani as the seller for prior transactions; the current notice lists the account but filer CIK/CCC fields are blank in the provided text.

How many shares has the insider sold recently and for how much?

The filing shows 27,250 shares sold during the past three months for total gross proceeds of $4,870,330.14.

When and how were the shares to be sold originally acquired?

The shares were acquired from the issuer as awards: 6,182 restricted shares on 08/15/2025, 7,750 performance shares on 05/16/2024, and 2,416 performance shares on 05/17/2024.

On which exchange will the reported sale occur?

The proposed sale is to be executed on NASDAQ.