COMMVAULT SYSTEMS INC — Director's Dealing 2017

May 11, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMVAULT SYSTEMS INC (CVLT)
CIK: 0001169561
Period of Report: 2017-05-10

Reporting Person: Miiller Ronald L (SVP, Worldwide Sales)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-10	Common Stock	M	23731	$22.59	Acquired	137408.968	Direct
2017-05-10	Common Stock	M	22500	$11.12	Acquired	159908.968	Direct
2017-05-10	Common Stock	S	23731	$57.58	Disposed	136177.968	Direct
2017-05-10	Common Stock	S	22500	$57.58	Disposed	113677.968	Direct
2017-05-10	Common Stock	S	335	$58.00	Disposed	113342.968	Direct
2017-05-10	Common Stock	S	298	$58.00	Disposed	113044.968	Direct
2017-05-10	Common Stock	S	43636	$57.40	Disposed	69408.968	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-05-10	Options to Purchase Common Stock	$22.59	M	23731	Disposed	2019-12-14	Common Stock (23731)	Direct
2017-05-10	Options to Purchase Common Stock	$11.12	M	22500	Disposed	2018-12-12	Common Stock (22500)	Direct

Footnotes

F1: Represents average sale price.

F2: Shares were acquired under the Commvault Employee Stock Purchase Plan on Jan. 30, 2015.

F3: Shares were acquired under the Commvault Employee Stock Purchase Plan on July 31, 2014.

F4: The options to purchase common stock are subject to a 4-year vesting schedule, as follows: 25% on the first anniversary of the grant with the remaining options vesting in equal quarterly installments thereafter.