Gary Merrill - May 19, 2023 Form 4 Insider Report for COMMVAULT SYSTEMS INC (CVLT)

Role
Chief Financial Officer
Signature
/s/ James J. Whalen, Attorney-in-Fact
Stock symbol
CVLT
Transactions as of
May 19, 2023
Transactions value $
-$209,937
Form type
4
Date filed
5/23/2023, 06:46 PM
Previous filing
May 19, 2023
Next filing
May 26, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CVLT Common Stock Sale -$37.6K -573 -0.59% $65.59 95.7K May 19, 2023 Direct F1
transaction CVLT Common Stock Award $0 +582 +0.61% $0.00 96.3K May 22, 2023 Direct F2
transaction CVLT Common Stock Award $0 +2.11K +2.19% $0.00 98.4K May 22, 2023 Direct F3
transaction CVLT Common Stock Sale -$22.8K -341 -0.35% $66.83 98.1K May 23, 2023 Direct F4
transaction CVLT Common Stock Sale -$150K -2.23K -2.27% $67.22 95.9K May 23, 2023 Direct F1
* 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 Represents additional shares issued in connection with the Company's total shareholder return for fiscal year 2023 satisfying specified benchmarks relative to the Russell 3000 index pursuant to the terms of an award granted on May 22, 2020.
F3 Represents additional shares issued in connection with the Company's achievement of certain financial performance metrics tied to annualized recurring revenue for fiscal year 2023 pursuant to the terms of an award granted on May 16, 2022.
F4 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. The price reported represents all shares sold at $66.83.