COMMVAULT SYSTEMS INC — Director's Dealing 2024

May 18, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMVAULT SYSTEMS INC (CVLT)
CIK: 0001169561
Period of Report: 2024-05-15

Reporting Person: Merrill Gary (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2024-05-15	Common Stock	A	16400	—	Acquired	105369	Direct
2024-05-15	Common Stock	A	12300	—	Acquired	117669	Direct
2024-05-15	Common Stock	A	12300	—	Acquired	129969	Direct
2024-05-16	Common Stock	A	4278	—	Acquired	134247	Direct
2024-05-16	Common Stock	S	6040	$110.20	Disposed	128207	Direct
2024-05-17	Common Stock	S	4856	$110.91	Disposed	123351	Direct
2024-05-17	Common Stock	A	2519	—	Acquired	125870	Direct
2024-05-17	Common Stock	S	2225	$110.65	Disposed	123645	Direct
2024-05-17	Common Stock	S	1321	$111.07	Disposed	122324	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, 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, over a three year period based on the Company's achievement of certain financial performance metrics tied to revenue measures.

F4: Represents additional shares issued in connection with the Company's total shareholder return for fiscal year 2024 satisfying specified benchmarks relative to the Russell 3000 index pursuant to the terms of an award granted on May 15, 2023.

F5: 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.

F6: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $110.20 and $110.42, inclusive. Full information regarding the number of shares sold at each separate price will be provided by the reporting person upon request to the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

F7: Represents additional shares issued in connection with the Company's total shareholder return for fiscal year 2024 satisfying specified benchmarks relative to the Russell 3000 index pursuant to the terms of an award granted on May 16, 2022.

F8: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $110.09 and $110.99, inclusive. Full information regarding the number of shares sold at each separate price will be provided by the reporting person upon request to the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

F9: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $111.00 and $111.16, inclusive. Full information regarding the number of shares sold at each separate price will be provided by the reporting person upon request to the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.