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.

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)

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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

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.

Does the CVLT CEO retain beneficial ownership of the transferred 37,372 shares?

Yes. The footnote explains that Sanjay Mirchandani maintains indirect beneficial ownership of the 37,372 shares now held by his revocable trust, which is for the benefit of him and his children.

How many CVLT shares remained in the 2025 GRAT after the gift transfer?

After the August 31, 2026 transfer, the Sanjay S. Mirchandani 2025 GRAT held 18,628 shares of CVLT common stock, reported as indirect ownership by the CEO through that GRAT entity.

How many CVLT shares does the revocable trust hold after the gift transfer?

Following the gift transaction, the Sanjay S. Mirchandani Revocable Trust held 37,372 shares of CVLT common stock, reported as indirectly owned by Sanjay Mirchandani as trustee and grantor.

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.

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Available on EDGAR 09/02/2026 - 04:15 PM EDT Accepted by SEC EDGAR 09/02/2026 - 04:13 PM EDT Learn about SEC filing dates

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).

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^*

Mirchandani Sanjay

(Last) (First) (Middle)

1 COMMVAULT WAY

(Street)

TINTON FALLS NEW JERSEY 07724

(City) (State) (Zip)

UNITED STATES

(Country)

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
X	Officer (give title below)		Other (specify below)
	President & CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/31/2026

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

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

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

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	08/31/2026		G(1)		37,372	D	$0	18,628	I	By Sanjay S. Mirchandani 2025 GRAT
Common Stock	08/31/2026		G(1)		37,372	A	$0	37,372	I	By Sanjay S. Mirchandani Revocable Trust

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. 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.

Remarks:

	/s/ Danielle Abrahamsen, Attorney-in-Fact	09/02/2026
	** 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.
* Form 4: SEC 1474 (03-26)