COMMVAULT SYSTEMS INC — Director's Dealing 2023

May 24, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMVAULT SYSTEMS INC (CVLT)
CIK: 0001169561
Period of Report: 2023-05-19

Reporting Person: Merrill Gary (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-05-19	Common Stock	S	573	$65.59	Disposed	95730	Direct
2023-05-22	Common Stock	A	582	—	Acquired	96312	Direct
2023-05-22	Common Stock	A	2113	—	Acquired	98425	Direct
2023-05-23	Common Stock	S	341	$66.83	Disposed	98084	Direct
2023-05-23	Common Stock	S	2225	$67.22	Disposed	95859	Direct

Footnotes

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.