COMMVAULT SYSTEMS INC — Director's Dealing 2021

May 19, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMVAULT SYSTEMS INC (CVLT)
CIK: 0001169561
Period of Report: 2021-05-17

Reporting Person: CAROLAN BRIAN (VP Finance and CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-17	Common Stock	A	15049	$0.00	Acquired	133390.6051	Direct
2021-05-17	Common Stock	A	7524	$0.00	Acquired	140914.6051	Direct
2021-05-17	Common Stock	A	7524	$0.00	Acquired	148438.6051	Direct
2021-05-18	Common Stock	F	3564	$67.40	Disposed	144874.6051	Direct

Footnotes

F1: 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.

F2: 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.

F3: 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.

F4: This sale of common stock was made to satisfy certain tax withholding obligations resulting from the vesting of restricted stock units.

F5: 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 68.14 inclusive.