Commvault (CVLT) CFO granted 841 PSUs after exceeding performance target

Rhea-AI Filing Summary

COMMVAULT SYSTEMS INC Chief Financial Officer Gary Merrill reported an acquisition of 841 Performance Stock Units (PSUs), each representing one share of common stock. These PSUs were granted on May 15, 2025 after performance results exceeded a previously reported target of 7,649 shares and remain subject to time-based vesting.

According to the award terms, 33% of the PSUs will vest on the first anniversary of the grant date, with 8.375% vesting at the end of each successive three-month period thereafter. Following this grant, Merrill holds 841 PSUs from this performance-based award.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Merrill Gary

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Grant/Award	Performance Stock Units	841	$0.00	--

Holdings After Transaction: Performance Stock Units — 841 shares (Direct, null)

Footnotes (1)

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Key Figures

PSUs granted: 841 units Previously reported target PSUs: 7,649 shares Initial vesting portion: 33% +2 more

5 metrics

PSUs granted 841 units Performance Stock Units acquired by CFO Gary Merrill

Previously reported target PSUs 7,649 shares Target amount previously reported in Table I

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

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

PSUs outstanding after transaction 841 units Total PSUs from this award held following the grant

Key Terms

Performance Stock Units, PSUs, time-based vesting, Common Stock

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 financial

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

Time-based vesting is a schedule that gives employees or contractors ownership of granted stock or options gradually as they remain with a company, like unlocking rewards in a loyalty program the longer you stick around. For investors, it matters because it affects future share supply, management incentives and staff retention — all of which can influence company performance and dilution of existing shareholders.

Common Stock financial

"Each PSU represents the right to receive one share of common stock"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

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).

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^*

Merrill Gary

(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)

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

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)
			Code	V	Amount	(A) or (D)	Price

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
Performance Stock Units	(1)	04/22/2026		A		841		(1)	(1)	Common Stock	841	(1)	841	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 (7,649 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)

FAQ

What did Commvault (CVLT) CFO Gary Merrill report in this Form 4 filing?

Commvault CFO Gary Merrill reported receiving 841 Performance Stock Units, each convertible into one share of common stock. The award reflects performance above a previously reported 7,649-share target and is still subject to additional time-based vesting requirements.

How many performance stock units did the Commvault (CVLT) CFO receive?

Gary Merrill received 841 Performance Stock Units. Each PSU represents the right to receive one share of Commvault common stock, contingent on satisfying the remaining time-based vesting schedule defined in the award terms.

What is the vesting schedule for the Commvault (CVLT) CFO’s new PSUs?

The PSUs vest over time. Thirty-three percent 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, assuming continued satisfaction of vesting conditions.

What performance result triggered the additional PSUs for Commvault (CVLT) CFO?

The 841 PSUs were determined to have been earned because performance criteria were achieved in excess of a previously reported 7,649-share target. These additional units still require time-based vesting before converting into common stock.

Does each Commvault (CVLT) performance stock unit equal a share of stock?

Yes. Each Performance Stock Unit granted to the CFO represents the right to receive one share of Commvault common stock. Delivery of the underlying shares depends on satisfying the specified time-based vesting schedule laid out in the award.