Sanjay Mirchandani - May 17, 2021 Form 4 Insider Report for COMMVAULT SYSTEMS INC (CVLT)

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CVLT	Common Stock	Sale	-$339K	-5K	-1.76%	$67.88	279K	May 17, 2021	Direct	F1, F2
transaction	CVLT	Common Stock	Award	$0	+64K	+22.92%	$0.00	343K	May 17, 2021	Direct	F3
transaction	CVLT	Common Stock	Award	$0	+32K	+9.32%	$0.00	375K	May 17, 2021	Direct	F4
transaction	CVLT	Common Stock	Award	$0	+32K	+8.53%	$0.00	407K	May 17, 2021	Direct	F5
transaction	CVLT	Common Stock	Tax liability	-$362K	-5.37K	-1.32%	$67.40	402K	May 18, 2021	Direct	F6, F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Id	Content
F1	This transaction has taken place pursuant to a pre-arranged trading plan in compliance with Rule 10b5-1 of the Securities and Exchange Act of 1934.
F2	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $67.41 and 68.38 inclusive.
F3	The common stock is being granted as restricted stock units and is subject to a 3-year vesting schedule, as follows: 1/3 on the first anniversary of the grant with the remaining portion vesting in equal quarterly installments thereafter.
F4	The common stock is being granted as performance share units (PSUs), 1/3 of which will vest, if at all, on each of the first, second and third anniversaries of the grant date of the award, if on such dates the Company's total shareholder return satisfies specified benchmarks relative to Russell 3000 index.
F5	The common stock is being granted as performance share units (PSUs), which will vest, if at all, over a three year period based on the Company's achievement of certain financial performance metrics tied to EBIT and revenue measures.
F6	This sale of common stock was made to satisfy certain tax withholding obligations resulting from the vesting of restricted stock units.
F7	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $67.29 and 67.45 inclusive.