Commvault (NASDAQ: CVLT) CEO granted 2,805 performance stock units as equity pay

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

COMMVAULT SYSTEMS INC President & CEO Sanjay Mirchandani reported a compensation-related equity award. He acquired 2,805 Performance Stock Units, each representing one share of common stock, based on performance criteria earned above a previously reported 25,497-share target.

According to the vesting schedule, 33% of these PSUs will vest on the first anniversary of the May 15, 2025 grant date, and 8.375% will vest at the end of each successive three-month period thereafter, subject to continued time-based vesting conditions.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Mirchandani Sanjay

Role President & CEO

Type	Security	Shares	Price	Value
Grant/Award	Performance Stock Units	2,805	$0.00	--

Holdings After Transaction: Performance Stock Units — 2,805 shares (Direct, null)

Footnotes (1)

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Key Figures

Performance Stock Units granted: 2,805 units Target PSUs previously reported: 25,497 shares Initial vesting tranche: 33% +2 more

5 metrics

Performance Stock Units granted 2,805 units Award earned above target, Form 4 transaction

Target PSUs previously reported 25,497 shares Earlier target amount referenced in footnote

Initial vesting tranche 33% Vests on first anniversary of May 15, 2025 grant

Subsequent quarterly vesting 8.375% Vests at end of each successive three-month period

Total PSUs after transaction 2,805 units Total Performance Stock Units held from this grant entry

Key Terms

Performance Stock Units, PSUs, time-based vesting criteria, grant, award, or other acquisition

4 terms

Performance Stock Units financial

"Granted on May 15, 2025, represents the number of shares determined to have been earned based upon the performance criteria"

Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.

PSUs financial

"33% of these performance stock units ("PSUs") will vest on the first anniversary of the grant date"

PSUs are company shares promised to employees or executives that only become actual stock if the business hits specific performance targets over a set period. For investors, PSUs matter because they link pay to measurable outcomes — similar to a conditional bonus that converts into ownership — which can influence management decisions, dilution of shares, and signals about confidence in future results.

time-based vesting criteria financial

"and that remain subject to additional time-based vesting criteria"

grant, award, or other acquisition financial

"transaction_code_description":"Grant, award, or other acquisition""

Form 4 Insider Transactions: What Each Field Means →

04/24/2026 - 09:17 PM

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)
04/22/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Performance Stock Units	⁽¹⁾	04/22/2026		A		2,805		⁽¹⁾	⁽¹⁾	Common Stock	2,805	⁽¹⁾	2,805	D

Explanation of Responses:

1. Granted on May 15, 2025, represents the number of shares determined to have been earned based upon the performance criteria in excess of the target amount previously reported in Table I (25,497 shares) and that remain subject to additional time-based vesting criteria. 33% of these performance stock units ("PSUs") will vest on the first anniversary of the grant date and 8.375% will vest at the end of each successive three-month period thereafter. Each PSU represents the right to receive one share of common stock.

Remarks:

	/s/ Danielle Abrahamsen, Attorney-in-Fact	04/24/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did CVLT President & CEO Sanjay Mirchandani report?

Sanjay Mirchandani reported acquiring 2,805 Performance Stock Units as part of his compensation. These units were earned based on performance exceeding a previously reported 25,497-share target and remain subject to additional time-based vesting requirements over several future periods.

How many Performance Stock Units did the CVLT CEO receive in this Form 4 filing?

The CEO received 2,805 Performance Stock Units. Each PSU represents the right to receive one share of Commvault common stock. These units were earned for performance above the earlier 25,497-share target and are still subject to a multi-period vesting schedule.

What do the CVLT Performance Stock Units reported in this Form 4 represent?

The Performance Stock Units represent an equity-based compensation award tied to performance criteria. Each of the 2,805 PSUs gives the right to receive one share of common stock, but only as they vest over time under the specified time-based vesting schedule.

How will the 2,805 CVLT Performance Stock Units for the CEO vest over time?

Vesting occurs in stages: 33% of the 2,805 PSUs vest on the first anniversary of the May 15, 2025 grant date. Then 8.375% of the units vest at the end of each successive three-month period, subject to the continued satisfaction of time-based vesting conditions.

Are the new CVLT Performance Stock Units an open-market purchase or compensation grant?

The 2,805 Performance Stock Units are a compensation-related grant, not an open-market purchase. They were awarded for performance above a previously reported target and are recorded as an acquisition under a grant or award code in the Form 4 filing.

How many PSUs does the CVLT CEO hold after this reported transaction?

After this transaction, the CEO holds 2,805 Performance Stock Units from this specific grant entry. These PSUs remain subject to time-based vesting, and each unit corresponds to one share of Commvault common stock upon vesting and settlement.