Commvault Systems (NASDAQ: CVLT) CEO sells 27,846 shares under 10b5-1 plan

Rhea-AI Filing Summary

COMMVAULT SYSTEMS INC President & CEO Sanjay Mirchandani reported open-market sales of a total of 27,846 shares of common stock on May 19–20, 2026. Shares were sold at prices ranging from $99.13 to $106.19 per share, and he now directly holds 306,927 shares.

According to a footnote, the sales were effected under an existing Rule 10b5-1 trading plan that the reporting person adopted on December 13, 2025. Another footnote explains that certain shares were automatically sold solely to cover tax withholding obligations upon vesting of performance stock, with proceeds remitted to the Internal Revenue Service.

Insider Trade Summary 10b5-1

Net Seller: 27,846 shares ($2,883,711)

Net Sell 3 txns

Insider Mirchandani Sanjay

Role President & CEO

Sold 27,846 shs ($2.88M)

Type	Security	Shares	Price	Value
Sale	Common Stock	8,450	$99.13	$838K
Sale	Common Stock	13,158	$106.19	$1.40M
Sale	Common Stock	6,238	$104.01	$649K

Holdings After Transaction: Common Stock — 306,927 shares (Direct, null)

Footnotes (1)

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 December 13, 2025. Represents shares automatically sold solely to satisfy tax withholding obligations of reporting person on vesting of performance stock. Proceeds from the sale were submitted to the Internal Revenue Service.

Key Figures

Total shares sold: 27,846 shares Sale price May 19 (lot 1): $106.19 per share Sale price May 19 (lot 2): $104.01 per share +3 more

6 metrics

Total shares sold 27,846 shares Net shares sold in open-market transactions reported on May 19–20, 2026

Sale price May 19 (lot 1) $106.19 per share Open-market sale of 13,158 shares of common stock on May 19, 2026

Sale price May 19 (lot 2) $104.01 per share Open-market sale of 6,238 shares of common stock on May 19, 2026

Sale price May 20 $99.13 per share Open-market sale of 8,450 shares of common stock on May 20, 2026

Shares held after transactions 306,927 shares Direct common stock ownership by CEO after May 20, 2026 sales

10b5-1 plan adoption date December 13, 2025 Date CEO adopted the Rule 10b5-1 trading plan referenced in the footnote

Key Terms

Rule 10b5-1 trading plan, open-market sale, performance stock, tax withholding obligations

4 terms

Rule 10b5-1 trading plan financial

"The sale reported in this Form 4 was effected pursuant to an existing Rule 10b5-1 trading plan"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

open-market sale financial

"transaction_action: open-market sale; transaction_code_description: Sale in open market or private transaction"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

performance stock financial

"Represents shares automatically sold solely to satisfy tax withholding obligations of reporting person on vesting of performance stock."

tax withholding obligations financial

"shares automatically sold solely to satisfy tax withholding obligations of reporting person on vesting of performance stock."

Form 4 Insider Transactions: What Each Field Means →

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^*

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)
05/19/2026

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(1)	05/19/2026		S		13,158	D	$106.19	321,615	D
Common Stock(2)	05/19/2026		S		6,238	D	$104.01	315,377	D
Common Stock(1)	05/20/2026		S		8,450	D	$99.13	306,927	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 December 13, 2025.

2. Represents shares automatically sold solely to satisfy tax withholding obligations of reporting person on vesting of performance stock. Proceeds from the sale were submitted to the Internal Revenue Service.

Remarks:

	/s/ Danielle Abrahamsen, Attorney-in-Fact	05/21/2026
	** 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)

FAQ

What did Commvault (CVLT) CEO Sanjay Mirchandani report in this Form 4?

He reported selling 27,846 shares of Commvault common stock in open-market transactions. The trades occurred on May 19–20, 2026, and were executed at prices between $99.13 and $106.19 per share, according to the Form 4 disclosure.

How many Commvault (CVLT) shares does the CEO hold after these sales?

After the reported sales, Sanjay Mirchandani directly holds 306,927 shares of Commvault common stock. This post-transaction figure is disclosed in the Form 4 and reflects his remaining direct ownership following the May 19–20, 2026 open-market sales.

Were Commvault (CVLT) CEO share sales made under a Rule 10b5-1 plan?

Yes. A footnote states the sales were effected under an existing Rule 10b5-1 trading plan adopted by the reporting person on December 13, 2025. Such plans pre-schedule trades, providing structure around timing decisions for insider transactions.

What prices did the Commvault (CVLT) CEO receive for the shares sold?

The Form 4 lists sale prices of $106.19 and $104.01 per share on May 19, 2026, and $99.13 per share on May 20, 2026. All transactions involved Commvault common stock in open-market or private sale transactions.

Did any Commvault (CVLT) shares get sold to cover tax withholding?

A footnote explains that certain shares were automatically sold to satisfy the CEO’s tax withholding obligations upon vesting of performance stock. The proceeds from these specific sales were remitted directly to the Internal Revenue Service for tax payment.

How many Commvault (CVLT) insider sale transactions are reported in this Form 4?

The Form 4 shows three sales of Commvault common stock coded as open-market or private sales. All are non-derivative transactions in common stock, and together they total 27,846 shares sold over May 19–20, 2026.