[Form 4] Commault Systems, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Allison Pickens, a director of Commvault Systems, Inc. (CVLT), sold 690 shares of the company on 09/03/2025 at a price of $177.89 per share. After the sale she beneficially owned 5,166 shares, held directly. The Form 4 states the sale was executed under a Rule 10b5-1 trading plan adopted by the reporting person on February 10, 2025. The filing also notes Pickens is subject to a lock-up agreement that expires November 1, 2025 and that this sale was a permissible exemption under that agreement. The Form 4 was signed by an attorney-in-fact, Danielle Abrahamsen, on 09/05/2025.

Positive

• Transaction executed under an established Rule 10b5-1 plan, which supports compliance with insider trading rules
• Filing discloses lock-up status and exemption, providing clear context for why the sale occurred before lock-up expiration
• Post-transaction beneficial ownership is disclosed (5,166 shares), showing continued director investment

Negative

• Director sold shares (690 shares at $177.89 each), which may be perceived negatively by some investors

Insights

Securities Analyst

TL;DR: Insider sale of 690 shares under a pre-established 10b5-1 plan; compliance documented and remaining direct holdings are 5,166 shares.

The transaction is a routine disclosure under Section 16 reporting rules: a director executed a sale under a previously adopted Rule 10b5-1 plan, which provides an affirmative defense against insider trading claims when followed properly. The Form 4 explicitly documents compliance with a lock-up agreement and the plan adoption date, improving transparency. The size of the sale (690 shares at $177.89) is explicitly stated and appears as a modest reduction relative to the reported post-transaction holding of 5,166 shares. From a reporting and governance standpoint, the filing meets disclosure expectations; there is no other financial or operational information included to assess broader company impact.

Corporate Governance Expert

TL;DR: The filing shows documented governance procedures: a 10b5-1 plan and lock-up clause were cited, and the sale was flagged as permitted under that lock-up.

Form 4 entries that specify a 10b5-1 plan adoption date and reference to a lock-up provide clear context for the director's sale, reducing ambiguity about intent and timing. The reporting person remains a direct holder of 5,166 shares after the sale, and the Form 4 was executed by an attorney-in-fact, indicating administrative delegation. No indications of atypical disclosure practices or missing mandatory fields are present in the provided content. The filing contains only transaction and compliance facts; it does not include material corporate events or governance changes beyond this trade.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Pickens Allison

(Last) (First) (Middle)

1 COMMVAULT WAY

(Street)

TINTON FALLS NJ 07724

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
COMMVAULT SYSTEMS INC [ CVLT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/03/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock(1)	09/03/2025		S		690	D	$177.89	5,166	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The sale reported in this Form 4 was effected pursuant to an existing Rule 10b5-1 trading plan adopted by the reporting person on February 10, 2025. The reporting person is subject to a lock-up agreement that expires on November 1, 2025. The sale of shares is a permissible exemption under the terms of the lock-up agreement.

Remarks:

	/s/ Danielle Abrahamsen, Attorney-in-Fact	09/05/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Allison Pickens report on the Form 4 for CVLT?

She reported selling 690 shares of Commvault Systems, Inc. (CVLT) on 09/03/2025 at $177.89 per share and holding 5,166 shares after the sale.

Was the sale by the director compliant with insider trading rules?

Yes — the Form 4 states the sale was effected under a Rule 10b5-1 trading plan adopted on February 10, 2025, providing an affirmative defense if the plan's conditions were met.

Does the filing mention any lock-up restrictions for Allison Pickens?

Yes — the filing states Pickens is subject to a lock-up agreement expiring November 1, 2025, and the reported sale was permitted under that agreement.

Who signed the Form 4 and when was it signed?

The Form 4 was signed by Danielle Abrahamsen, Attorney-in-Fact on 09/05/2025.

How many shares does Allison Pickens own after the reported transaction?

She beneficially owns 5,166 shares following the reported sale.