Commvault Systems Inc President and CEO Sanjay Mirchandani filed a Form 4 with the SEC on August 19, 2026, disclosing three separate sales of common stock between August 17 and August 19, 2026.

Key Highlights

  • August 17 sale: 12,437 shares of common stock sold at $143.98 per share under a Rule 10b5-1 trading plan.
  • August 18 sale: 4,840 shares automatically sold at $143.64 per share solely to satisfy tax withholding obligations upon vesting of restricted and performance stock, with proceeds submitted to the IRS.
  • August 19 sale: 6,857 shares sold at $142.80 per share under the same Rule 10b5-1 trading plan.
  • Post-transaction ownership: Following all three transactions, Mirchandani directly owned 257,676 shares of common stock, according to the filing.
  • Trading plan: The Rule 10b5-1 plan covering the August 17 and August 19 sales was adopted on December 13, 2025, the filing stated.
  • Reporting person role: Mirchandani is identified in the filing as both Director and Officer, serving as President and CEO of Commvault Systems Inc (NASDAQ:CVLT).

Details of Mirchandani's Three-Day Share Sales at Commvault Systems

According to the Form 4 filing, Mirchandani made two separate sales under a pre-established Rule 10b5-1 trading plan. The plan was adopted on December 13, 2025, and governed the sales on August 17 and August 19, 2026. Commvault Systems, headquartered in Tinton Falls, New Jersey, provides data protection and management solutions and is listed on NASDAQ under the ticker CVLT.

The August 18 transaction was separate in nature. The filing disclosed that those 4,840 shares were "automatically sold solely to satisfy tax withholding obligations of reporting person on vesting of restricted and performance stock" and that "proceeds from the sale were submitted to the Internal Revenue Service." Following the August 17 sale of 12,437 shares, the reported beneficial ownership stood at 269,373 shares directly held. After the August 18 sale, that figure fell to 264,533 shares, and after the August 19 sale of 6,857 shares, it stood at 257,676 shares, all held directly.

The filing was signed by Danielle Abrahamsen as Attorney-in-Fact on August 19, 2026. The Form 4 also indicates that the checkbox confirming the transaction was made pursuant to a contract, instruction, or written plan satisfying the affirmative defense conditions of Rule 10b5-1(c) was checked for the applicable transactions.

What Was Disclosed

The filing reported three dispositions of Commvault Systems common stock by President and CEO Sanjay Mirchandani between August 17 and August 19, 2026, including two sales under a Rule 10b5-1 plan and one tax-withholding sale upon stock vesting. Post-transaction direct ownership was reported as 257,676 shares.