COMMVAULT SYSTEMS INC — Director's Dealing 2021

May 26, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMVAULT SYSTEMS INC (CVLT)
CIK: 0001169561
Period of Report: 2021-05-21

Reporting Person: Merrill Gary (Chief - Business Operations)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-21	Common Stock	S	3176	$70.98	Disposed	10704	Direct
2021-05-25	Common Stock	M	12000	$56.57	Acquired	22704	Direct
2021-05-25	Common Stock	M	2000	$51.80	Acquired	24704	Direct
2021-05-25	Common Stock	S	14000	$76.10	Disposed	10704	Direct
2021-05-25	Common Stock	F	3290	$72.25	Disposed	7414	Direct
2021-05-25	Common Stock	F	94	$73.98	Disposed	7320	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-05-25	Options to Purchase Common Stock	$56.57	M	12000	Disposed	2022-10-12	Common Stock (12000)	Direct
2021-05-25	Options to Purchase Common Stock	$51.80	M	2000	Disposed	2022-03-14	Common Stock (2000)	Direct

Footnotes

F1: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $70.98 and 70.99 inclusive.

F2: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $75.53 and 76.28 inclusive.

F3: This sale of common stock was made to satisfy certain tax withholding obligations resulting from the vesting of restricted and performance stock units.

F4: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $73.92 and 74.05 inclusive.

F5: 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.