Commvault (NASDAQ: CVLT) CEO sells 20,390 shares under 10b5-1 plan

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

COMMVAULT SYSTEMS INC President & CEO Sanjay Mirchandani reported open-market sales of company common stock under a pre-arranged Rule 10b5-1 trading plan adopted on December 13, 2025.

He sold 10,338 shares on March 16, 2026 at an average price of $78.96 per share and 10,052 shares on March 17, 2026 at an average price of $80.09 per share, totaling 20,390 shares.

Following these transactions, he continues to directly hold 332,529 shares of Commvault common stock, indicating he retains a substantial equity stake while executing a scheduled trading plan.

Insider Trade Summary 10b5-1

Net Seller: 20,390 shares ($1,621,353)

Net Sell 2 txns

Insider Mirchandani Sanjay

Role President & CEO

Sold 20,390 shs ($1.62M)

Type	Security	Shares	Price	Value
Sale	Common Stock	10,052	$80.09	$805K
Sale	Common Stock	10,338	$78.96	$816K

Holdings After Transaction: Common Stock — 332,529 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

03/18/2026 - 04:10 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)
03/16/2026

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)
Common Stock⁽¹⁾	03/16/2026		S		10,338	D	$78.96	342,581	D
Common Stock⁽¹⁾	03/17/2026		S		10,052	D	$80.09	332,529	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)
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)

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.

Remarks:

	/s/ Danielle Abrahamsen, Attorney-in-Fact	03/18/2026
	** 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 Commvault (CVLT) CEO Sanjay Mirchandani report?

Commvault CEO Sanjay Mirchandani reported selling common stock in two open-market transactions. These sales were made under an existing Rule 10b5-1 trading plan and reduced, but did not eliminate, his direct share ownership in the company.

How many Commvault (CVLT) shares did the CEO sell and at what prices?

Sanjay Mirchandani sold a total of 20,390 Commvault common shares. He sold 10,338 shares at an average price of $78.96 and 10,052 shares at an average price of $80.09, according to the reported Form 4 transactions.

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

After the reported sales, Sanjay Mirchandani directly holds 332,529 Commvault common shares. This reflects his remaining equity position following the two open-market sale transactions disclosed in the Form 4 filing.

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

Yes. The filing states the sales were effected under an existing Rule 10b5-1 trading plan adopted on December 13, 2025. Such plans allow pre-scheduled trades, which can make the timing less indicative of the insider’s short-term outlook.

Did the Commvault (CVLT) CEO exercise options or trade derivatives in this Form 4?

No. The reported transactions involve only non-derivative common stock open-market sales. The derivative section shows no exercises or other derivative transactions, so this Form 4 reflects straightforward stock sales rather than option activity.

Is the Commvault (CVLT) CEO’s ownership direct or through another entity?

The filing classifies the reported holdings as direct ownership. The transactions are coded as direct, with no nature-of-ownership footnote indicating trusts, LLCs, or other entities, so the shares are attributed directly to Sanjay Mirchandani.