Commvault Systems (CVLT) insider lines up new share sale after recent multi-million trades

Rhea-AI Filing Summary

COMMVAULT SYSTEMS INC (CVLT) received a Rule 144 notice indicating that Sanjay Mirchandani plans to sell 6,857 shares of common stock through Fidelity Brokerage Services LLC. These shares arise from restricted stock vesting expected on 08/15/2026, with an indicated aggregate market value of $979,179.60. The filing also notes total common shares outstanding of 41,444,564 as a reference figure.

Over the preceding three months, Mirchandani reported several open-market sales of CVLT common stock: 19,396 shares on 05/19/2026 for $2,046,087.98, 8,450 shares on 05/20/2026 for $837,648.50, 9,701 shares on 05/22/2026 for $1,041,800.09, 12,437 shares on 08/17/2026 for $1,790,679.26, and 4,840 shares on 08/18/2026 for $695,191.95.

Key Figures

Planned shares to be sold: 6,857 shares Aggregate market value of planned sale: $979,179.60 Shares outstanding: 41,444,564 shares +5 more

8 metrics

Planned shares to be sold 6,857 shares Common stock to be sold under Rule 144 through Fidelity Brokerage Services LLC

Aggregate market value of planned sale $979,179.60 Indicated aggregate market value for 6,857 shares to be sold

Shares outstanding 41,444,564 shares Common shares outstanding referenced in the Form 144

Sale on 05/19/2026 19,396 shares; $2,046,087.98 Common stock sold by Sanjay Mirchandani on 05/19/2026

Sale on 05/20/2026 8,450 shares; $837,648.50 Common stock sold by Sanjay Mirchandani on 05/20/2026

Sale on 05/22/2026 9,701 shares; $1,041,800.09 Common stock sold by Sanjay Mirchandani on 05/22/2026

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

Sale on 08/18/2026 4,840 shares; $695,191.95 Common stock sold by Sanjay Mirchandani on 08/18/2026

Key Terms

Rule 144, restricted stock vesting, attorney-in-fact

3 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 | 08/15/2026 | 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.

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 disclose about CVLT and Sanjay Mirchandani?

The filing discloses that Sanjay Mirchandani plans to sell 6,857 CVLT common shares under Rule 144. The shares relate to restricted stock vesting on 08/15/2026 and will be sold through Fidelity Brokerage Services LLC.

How many CVLT shares does Sanjay Mirchandani currently plan to sell under this Form 144?

He currently plans to sell 6,857 shares of CVLT common stock. The filing lists an indicated aggregate market value of $979,179.60 for these shares and references 41,444,564 common shares outstanding as a comparison figure.

What prior CVLT stock sales by Sanjay Mirchandani are reported in this Form 144?

The notice lists sales of 19,396 shares on 05/19/2026, 8,450 on 05/20/2026, 9,701 on 05/22/2026, 12,437 on 08/17/2026, and 4,840 on 08/18/2026. Aggregate amounts range up to about $2.0 million per transaction.

What is the aggregate market value of the CVLT shares Mirchandani plans to sell?

The planned sale of 6,857 CVLT shares has an indicated aggregate market value of $979,179.60. This amount comes from the securities information section associated with the planned Rule 144 sale through Fidelity Brokerage Services LLC.

How many Commvault (CVLT) shares are shown as outstanding in this Form 144?

The Form 144 references 41,444,564 shares of CVLT common stock outstanding. This figure appears in the securities information table as a company-wide reference and is separate from the 6,857 shares Mirchandani plans to sell.

Who is executing the planned sale of CVLT shares under this Form 144?

The planned sale will be executed through Fidelity Brokerage Services LLC. The form is signed by Emily Navaro as a duly authorized representative of Fidelity, acting as attorney-in-fact for Sanjay Mirchandani.

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

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Available on EDGAR 08/19/2026 - 09:58 AM Accepted by SEC EDGAR 08/19/2026 - 09:58 AM 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	6857	979179.60	41444564	08/19/2026	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	08/15/2026	Restricted Stock Vesting	Issuer			6857	08/15/2026	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	05/19/2026	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
Sanjay Mirchandani 1 Commvault Way, Tinton Falls NJ 07724	Common	08/18/2026	4840	695191.95

144: Remarks and Signature

Remarks
Date of Notice	08/19/2026
Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1	12/13/2025
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/ Emily Navaro, 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)