Commvault CEO shifts 37K shares between trusts
COMMVAULT’s CEO shifted 37,372 shares between personal trusts as a bona fide gift, with no market trade and continued indirect ownership.
Rhea-AI Filing Summary
COMMVAULT SYSTEMS INC (CVLT) reported an internal equity transfer by President & CEO Sanjay Mirchandani. On August 31, 2026, 37,372 shares of common stock were transferred as a bona fide gift from the Sanjay S. Mirchandani 2025 GRAT to the Sanjay S. Mirchandani Revocable Trust. The footnote states Mirchandani maintains indirect beneficial ownership of these shares and that this was not a market transaction, so no price was reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
74,744 shares gifted
Gift
2 txns
Insider
Mirchandani Sanjay
Role
President & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Common Stock F1 | 37,372 | $0.00 | $0.00 |
| Gift | Common Stock F1 | 37,372 | $0.00 | $0.00 |
Holdings After Transaction:
Common Stock — 18,628 shares (Indirect, By Sanjay S. Mirchandani 2025 GRAT);
Common Stock — 37,372 shares (Indirect, By Sanjay S. Mirchandani Revocable Trust)
Footnotes (1)
- F1. Represents a transfer of 37,372 shares previously reported as held by Sanjay S. Mirchandani 2025 GRAT to Sanjay S. Mirchandani Revocable Trust, of which the reporting person is the trustee and grantor, and which is for the benefit of the reporting person and the reporting person's children. The reporting person maintains indirect beneficial ownership of such shares. This is not a market transaction, thus no price has been reported.
Key Figures
Shares transferred as bona fide gift: 37,372 shares
Total gift shares reported in this Form 4: 74,744 shares
Shares held by 2025 GRAT after transaction: 18,628 shares
+1 more
4 metrics
Shares transferred as bona fide gift
37,372 shares
Gift transfer on August 31, 2026 from 2025 GRAT to revocable trust
Total gift shares reported in this Form 4
74,744 shares
Aggregate of two gift transactions reported in the filing
Shares held by 2025 GRAT after transaction
18,628 shares
Indirect ownership by CEO via Sanjay S. Mirchandani 2025 GRAT
Shares held by revocable trust after transaction
37,372 shares
Indirect ownership by CEO via Sanjay S. Mirchandani Revocable Trust
Key Terms
bona fide gift, indirect beneficial ownership, Revocable Trust, GRAT
4 terms
bona fide gift financial
"The transaction code is described as a bona fide gift of shares"
A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.
indirect beneficial ownership financial
"The reporting person maintains indirect beneficial ownership of such shares"
Revocable Trust financial
"Transfer to Sanjay S. Mirchandani Revocable Trust, of which he is trustee"
A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.
GRAT financial
"Shares previously reported as held by Sanjay S. Mirchandani 2025 GRAT"
FAQ
What insider transaction did CVLT report for CEO Sanjay Mirchandani?
CVLT reported that on August 31, 2026, Sanjay Mirchandani transferred 37,372 shares of common stock as a bona fide gift from the 2025 GRAT to his revocable trust, an internal reallocation between personal trusts.
Was the August 31, 2026 CVLT Form 4 transaction a market trade?
No. The filing states it was not a market transaction. It represents a gift transfer of 37,372 shares between trusts associated with Sanjay Mirchandani, so no transaction price per share was reported.
Was the CVLT insider transaction under a Rule 10b5-1 trading plan?
No. The Form 4 indicates the Rule 10b5-1 checkbox is not affirmed, and the footnote describes the movement as an internal gift transfer, not a pre-arranged trading-plan sale or purchase.
AI-generated analysis. How Rhea-AI works. Not financial advice.
