Commvault (NASDAQ: CVLT) insider lines up another stock sale after recent multi-day selling

Rhea-AI Filing Summary

COMMVAULT SYSTEMS INC (CVLT) received a Rule 144 notice relating to planned and recent insider sales of common stock by Sanjay Mirchandani. The notice covers a proposed sale of 4,840 shares of common stock held at Fidelity Brokerage Services LLC, with an indicated value of 695,191.95, and references a Rule 144 volume limit of 41,444,564 as of 08/18/2026 on NASDAQ. It also lists prior sales by Mirchandani over the last three months, including multiple transactions in May 2026 and one on August 17, 2026, totaling several blocks of shares and related dollar amounts. A remark states that the sale includes shares to cover a tax obligation arising from the settlement of a vested equity award distribution.

Key Figures

Proposed shares to be sold: 4,840 shares Indicated value of proposed sale: 695,191.95 Rule 144 reference figure: 41,444,564 +3 more

6 metrics

Proposed shares to be sold 4,840 shares Common stock listed as securities to be sold under Rule 144

Indicated value of proposed sale 695,191.95 Value associated with 4,840 shares of common stock in the securities information section

Rule 144 reference figure 41,444,564 Figure listed with the securities information for CVLT common stock on 08/18/2026

Sale on 05/18/2026 8,457 shares; 884,084.63 Common stock sold by Sanjay Mirchandani on 05/18/2026 with listed dollar amount

Sale on 05/19/2026 19,396 shares; 2,046,087.98 Common stock sold by Sanjay Mirchandani on 05/19/2026 with listed dollar amount

Sale on 08/17/2026 12,437 shares; 1,790,679.26 Common stock sold by Sanjay Mirchandani on 08/17/2026 with listed dollar amount

Key Terms

Rule 144, Restricted Stock Vesting, vested equity award distribution, attorney-in-fact

4 terms

Rule 144 regulatory

"See the definition of "person" in paragraph (a) of Rule 144."

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

Restricted Stock Vesting financial

"Common | 08/14/2026 | Restricted Stock Vesting | Issuer"

Restricted stock vesting is the timetable and conditions under which shares granted to employees or insiders become fully owned and can be sold, typically requiring continued work or meeting performance goals. It matters to investors because large blocks of shares can become tradable at once, which can change share supply and price, and because vesting aligns insiders’ incentives with the company’s long‑term performance—think of it like a timed unlock that both rewards and locks in key people.

vested equity award distribution financial

"resulting from the settlement of a vested equity award distribution."

attorney-in-fact regulatory

"as attorney-in-fact for Sanjay Mirchandani."

An attorney-in-fact is the person or entity given legal authority through a power of attorney to act on behalf of another for specific tasks, such as signing documents, voting shares, or handling transactions. For investors, this matters because it lets a trusted representative make timely decisions or complete paperwork when the owner cannot, much like handing keys to someone to run errands on your behalf—so checks on scope and limits of that authority are important.

FAQ

What does the Form 144 filing for CVLT disclose about Sanjay Mirchandani's planned sale?

The Form 144 filing discloses that Sanjay Mirchandani intends to sell 4,840 shares of Commvault Systems common stock. The shares are held at Fidelity Brokerage Services LLC and are reported with an indicated value of 695,191.95 under Rule 144 limitations.

How many CVLT shares has Sanjay Mirchandani sold in the past three months?

Over the past three months, Sanjay Mirchandani reported multiple CVLT sales, including 8,457, 19,396, 8,450, 9,701, and 12,437 shares on various dates. Each transaction is listed with a corresponding aggregate dollar amount received from the sales.

What is the Rule 144 volume-related figure reported for CVLT in this notice?

The notice reports a Rule 144-related figure of 41,444,564, tied to Commvault Systems common stock on NASDAQ as of 08/18/2026. This figure is used in connection with Rule 144 limitations on the amount of securities that can be sold.

Why does the Form 144 say some CVLT shares are being sold by Sanjay Mirchandani?

The filing states that the sale includes shares needed to cover a tax obligation arising from the settlement of a vested equity award distribution. This means part of the sale relates to tax liabilities connected to equity compensation vesting.

What type of CVLT security is covered by Sanjay Mirchandani’s Form 144 filing?

The Form 144 filing covers common stock of Commvault Systems Inc. The securities information section lists the security type as common, held at Fidelity Brokerage Services LLC, with trading on NASDAQ referenced in the disclosure.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/18/2026 - 04:16 PM Accepted by SEC EDGAR 08/18/2026 - 04:15 PM Learn about SEC filing dates

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	0001765820
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	COMMVAULT SYSTEMS INC
SEC File Number	001-33026
Address of Issuer	1 COMMVAULT WAY TINTON FALLS NEW JERSEY 07724
Phone	732-870-4000
Name of Person for Whose Account the Securities are To Be Sold	Mirchandani Sanjay
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	Officer
Relationship to Issuer	Director

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	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	4840	695191.95	41444564	08/18/2026	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	08/14/2026	Restricted Stock Vesting	Issuer			4840	08/14/2026	Compensation

* 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	05/18/2026	8457	884084.63
Sanjay Mirchandani 1 Commvault Way Tinton Falls NJ 07724	Common	05/19/2026	19396	2046087.98
Sanjay Mirchandani 1 Commvault Way Tinton Falls NJ 07724	Common	05/20/2026	8450	837648.50
Sanjay Mirchandani 1 Commvault Way Tinton Falls NJ 07724	Common	05/22/2026	9701	1041800.09
Sanjay Mirchandani 1 Commvault Way Tinton Falls NJ 07724	Common	08/17/2026	12437	1790679.26

144: Remarks and Signature

Remarks	Sale includes an amount necessary to cover a tax obligation resulting from the settlement of a vested equity award distribution.
Date of Notice	08/18/2026
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	/s/ Jessica Spraker, as a duly authorized representative of Fidelity Brokerage Services LLC, as attorney-in-fact for Sanjay Mirchandani.
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)