Commvault (CVLT) Form 144 Filed — Insider Sales and May 2025 Dispositions

Rhea-AI Filing Summary

Form 144 notice for Commvault Systems, Inc. (CVLT): This filing notifies the proposed sale of 6,614 shares of Common stock through Morgan Stanley Smith Barney on NASDAQ, with an aggregate market value of $1,190,652.28 and approximately 44,513,830 shares outstanding. The securities to be sold include Restricted Stock (10,280 shares) and Performance Stock (6,523 shares) acquired from the issuer on 08/15/2025, with payment dated 08/15/2025. The filer has reported multiple recent open-market Common stock sales during May 2025 totaling 94,664 shares generating gross proceeds shown per transaction. The notice includes the filer’s representation that they have no undisclosed material adverse information.

Positive

• Insider disclosure is completed and filed under Rule 144, providing transparent notice of proposed sale activity.
• Filing specifies broker, exchange (NASDAQ), share counts, and aggregate market value, meeting required reporting details.

Negative

• The filer reported substantial open-market sales in May 2025 totaling 94,664 shares, which may be interpreted as significant insider selling pressure.
• The filing does not state whether the sales are pursuant to a 10b5-1 trading plan or provide rationale, leaving investor context limited.

Insights

Securities Analyst

TL;DR: Insider has filed to sell a modest block of shares and previously sold substantial shares in May 2025; disclosure is complete per Form 144.

This Form 144 documents a proposed sale of 6,614 common shares via Morgan Stanley Smith Barney on NASDAQ valued at $1.19M, and details acquisition of restricted and performance stock on 08/15/2025. The filer also disclosed multiple sales in May 2025 totaling 94,664 shares with listed gross proceeds per trade. From a securities disclosure viewpoint, the filing fulfills Rule 144 notice requirements and gives investors transparent visibility into insider selling activity.

Corporate Governance Expert

TL;DR: Filing shows compliance with insider-sale reporting; multiple recent sales indicate active disposition but no additional context is provided.

The form indicates proper use of broker-dealer and includes the required representation about material nonpublic information. It lists the nature and dates of acquisition for shares being sold (restricted and performance awards) and recent sales during the prior three months. The document does not provide reasons for the sales or any 10b5-1 plan details, so governance context is limited to the compliance facts disclosed.

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 1 New York Plaza 38th Floor New York NY 10004	6614	1190652.28	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			10280	08/15/2025	Not Applicable
COMMON	08/15/2025	Performance Stock	ISSUER			6523	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
Sanjay Mirchandani 1 Commvault Way Tinton Falls NJ 07724	COMMON	05/22/2025	1709	299075
Sanjay Mirchandani 1 Commvault Way Tinton Falls NJ 07724	COMMON	05/20/2025	14221	2558197.35
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	26094	4585762.17
Sanjay Mirchandani 1 Commvault Way Tinton Falls NJ 07724	COMMON	05/19/2025	5301	932011.22
Sanjay Mirchandani 1 Commvault Way Tinton Falls NJ 07724	COMMON	05/16/2025	17872	3187069.08

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 filed for CVLT announce?

The form notifies a proposed sale of 6,614 common shares through Morgan Stanley Smith Barney on NASDAQ with an aggregate market value of $1,190,652.28.

Who is the broker and where will CVLT shares be sold?

The broker listed is Morgan Stanley Smith Barney, LLC and the sale is to occur on NASDAQ.

What types of shares are being sold and when were they acquired?

The securities to be sold were acquired as Restricted Stock (10,280 shares) and Performance Stock (6,523 shares) with acquisition and payment dated 08/15/2025.

Has the filer sold other CVLT shares recently?

Yes. The filer disclosed multiple sales in May 2025 totaling 94,664 shares across several dates with gross proceeds reported per transaction.

Does the Form 144 state there is undisclosed material information?

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