CVLT CEO files Form 4 detailing November 2025 insider stock sales

Rhea-AI Filing Summary

Commvault Systems Inc. (CVLT) President & CEO and director reported multiple sales of company common stock on November 18–19, 2025. Reported transactions include sales of 6,820 shares at $123.58, 5,794 shares at $123.37, and additional blocks at prices ranging from about $119.75 to $125.81, all coded as open-market or similar dispositions.

After these transactions, the executive beneficially owned 359,260 shares of Commvault common stock in direct form. One sale represents shares automatically sold solely to satisfy tax withholding obligations upon vesting of restricted and performance stock, with proceeds remitted to the Internal Revenue Service. Other reported sales were effected under an existing Rule 10b5-1 trading plan adopted on November 18, 2024.

Insider Trade Summary

Net Seller: 27,762 shares ($3,399,998)

Net Sell 8 txns

Insider Mirchandani Sanjay

Role President & CEO

Sold 27,762 shs ($3.40M)

Type	Security	Shares	Price	Value
Sale	Common Stock	2,845	$119.75	$341K
Sale	Common Stock	3,552	$120.99	$430K
Sale	Common Stock	6,604	$121.81	$804K
Sale	Common Stock	108	$122.59	$13K
Sale	Common Stock	6,820	$123.58	$843K
Sale	Common Stock	5,794	$123.37	$715K
Sale	Common Stock	1,939	$124.64	$242K
Sale	Common Stock	100	$125.81	$13K

Holdings After Transaction: Common Stock — 369,524 shares (Direct)

Footnotes (1)

1. Represents shares automatically sold solely to satisfy tax withholding obligations of reporting person on vesting of restricted and performance stock. Proceeds from the sale were submitted to the Internal Revenue Service. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $123.58 to $124.33, inclusive. Full information regarding the number of shares sold at each separate price will be provided by the reporting person upon request to the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer. The sale reported in this Form 4 was effected pursuant to an existing Rule 10b5-1 trading plan adopted by the reporting person on November 18, 2024. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $122.89 to $123.86, inclusive. Full information regarding the number of shares sold at each separate price will be provided by the reporting person upon request to the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $124.07 to $124.99, inclusive. Full information regarding the number of shares sold at each separate price will be provided by the reporting person upon request to the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $119.31 to $120.29, inclusive. Full information regarding the number of shares sold at each separate price will be provided by the reporting person upon request to the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $120.44 to $121.37, inclusive. Full information regarding the number of shares sold at each separate price will be provided by the reporting person upon request to the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $121.45 to $122.40, inclusive. Full information regarding the number of shares sold at each separate price will be provided by the reporting person upon request to the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

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 NJ 07724

(City) (State) (Zip)

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

3. Date of Earliest Transaction (Month/Day/Year)
11/18/2025

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

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

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

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)	11/18/2025		S		6,820	D	$123.58(2)	380,202	D
Common Stock(3)	11/18/2025		S		5,794	D	$123.37(4)	374,408	D
Common Stock(3)	11/18/2025		S		1,939	D	$124.64(5)	372,469	D
Common Stock(3)	11/18/2025		S		100	D	$125.81	372,369	D
Common Stock(3)	11/19/2025		S		2,845	D	$119.75(6)	369,524	D
Common Stock(3)	11/19/2025		S		3,552	D	$120.99(7)	365,972	D
Common Stock(3)	11/19/2025		S		6,604	D	$121.81(8)	359,368	D
Common Stock(3)	11/19/2025		S		108	D	$122.59	359,260	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. Represents shares automatically sold solely to satisfy tax withholding obligations of reporting person on vesting of restricted and performance stock. Proceeds from the sale were submitted to the Internal Revenue Service.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $123.58 to $124.33, inclusive. Full information regarding the number of shares sold at each separate price will be provided by the reporting person upon request to the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

3. The sale reported in this Form 4 was effected pursuant to an existing Rule 10b5-1 trading plan adopted by the reporting person on November 18, 2024.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $122.89 to $123.86, inclusive. Full information regarding the number of shares sold at each separate price will be provided by the reporting person upon request to the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $124.07 to $124.99, inclusive. Full information regarding the number of shares sold at each separate price will be provided by the reporting person upon request to the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $119.31 to $120.29, inclusive. Full information regarding the number of shares sold at each separate price will be provided by the reporting person upon request to the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

7. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $120.44 to $121.37, inclusive. Full information regarding the number of shares sold at each separate price will be provided by the reporting person upon request to the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

8. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $121.45 to $122.40, inclusive. Full information regarding the number of shares sold at each separate price will be provided by the reporting person upon request to the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

Remarks:

	/s/ Danielle Abrahamsen, Attorney-in-Fact	11/20/2025
	** 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.

FAQ

What insider transaction did Commvault (CVLT) disclose in this Form 4?

The filing reports that Commvault Systems Inc.'s President & CEO, who is also a director, sold multiple blocks of common stock on November 18–19, 2025 at various market prices.

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

Reported sales include 6,820 shares at $123.58, 5,794 shares at $123.37, 1,939 shares at $124.64, 2,845 shares at $119.75, 3,552 shares at $120.99, and 6,604 shares at $121.81, plus smaller blocks at nearby prices.

How many Commvault (CVLT) shares does the CEO own after these transactions?

Following the reported sales, the executive beneficially owned 359,260 shares of Commvault common stock, all shown as held in direct ownership.

Were any of the Commvault (CVLT) insider sales made to cover taxes?

Yes. One reported sale represents shares that were automatically sold solely to satisfy tax withholding obligations upon vesting of restricted and performance stock, with proceeds submitted to the Internal Revenue Service.

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

The filing states that one or more of the reported sales were effected pursuant to an existing Rule 10b5-1 trading plan adopted by the reporting person on November 18, 2024.

What price ranges applied to the weighted-average Commvault (CVLT) sale prices?

Weighted-average prices reported cover ranges including $123.58–$124.33, $122.89–$123.86, $124.07–$124.99, $119.31–$120.29, $120.44–$121.37, and $121.45–$122.40, with full trade details available on request.