Sanjay Mirchandani - May 17, 2023 Form 4 Insider Report for COMMVAULT SYSTEMS INC (CVLT)

Role
President & CEO, Director
Signature
/s/ James J. Whalen, Attorney-in-Fact
Stock symbol
CVLT
Transactions as of
May 17, 2023
Transactions value $
-$2,870,153
Form type
4
Date filed
5/19/2023, 05:33 PM
Previous filing
May 17, 2023
Next filing
May 23, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CVLT Common Stock Tax liability -$1.07M -16.9K -3.19% $63.49 512K May 17, 2023 Direct F1
transaction CVLT Common Stock Sale -$503K -7.79K -1.52% $64.50 504K May 18, 2023 Direct F2, F3
transaction CVLT Common Stock Tax liability -$576K -8.89K -1.76% $64.73 495K May 18, 2023 Direct F1
transaction CVLT Common Stock Sale -$721K -11K -2.22% $65.55 484K May 19, 2023 Direct F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id Content
F1 Represents shares automatically sold solely to satisfy tax withholding obligations of reporting person on vesting of restricted stock. Proceeds from the sale were submitted to the Internal Revenue Service.
F2 The sale reported in this Form 4 was effected pursuant to an existing Rule 10b5-1 trading plan adopted by the reporting person on February 3, 2023.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $64.04 and $64.91, 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.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $65.28 and $66.00, 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.