Commvault (CVLT) Chief Accounting Officer Danielle Abrahamsen Sells Shares

What Happened
Danielle Nicole Abrahamsen, Chief Accounting Officer of Commvault Systems, sold 925 shares in open-market transactions on May 18, 2026, for total proceeds of $96,679 (409 shares at $104.54 = $42,757; 516 shares at $104.50 = $53,922). On May 15, 2026 she also acquired company stock via awards/conversions: 415 shares from vested performance stock units (PSUs) and 3,897 restricted stock units (RSUs) granted (both reported at $0.00 acquisition price). Net across these filings, she acquired 4,312 shares and disposed of 925, a net increase of 3,387 shares.

Key Details

• Transaction dates and prices:
  • May 15, 2026: 415 shares from PSU conversion and 3,897 RSU grant (acquired at $0.00).
  • May 18, 2026: Open-market sales — 409 shares at $104.54 and 516 shares at $104.50 (total proceeds $96,679).
• Net change: +3,387 shares (4,312 acquired − 925 sold).
• Shares owned after transaction: total beneficial ownership balance not specified in the summary provided on this Form 4.
• Notable footnotes:
  • F1: 415 PSUs vested from a May 15, 2025 grant; remaining PSUs from that award vest through May 15, 2028.
  • F2: The 3,897 RSUs are subject to a 3-year vesting schedule (33% at 1 year, then phased quarterly).
  • F3: The filing notes shares may be automatically sold to satisfy tax withholding on vesting; proceeds are submitted to the IRS.
  • F4: The May 18 sale was executed under an existing Rule 10b5-1 trading plan adopted Feb 17, 2026.
• Filing timeliness: Form filed May 19, 2026 for transactions through May 18 — appears timely (no late filing reported).

Context

• The May 15 entries are awards/conversions (PSUs/RSUs), not cash purchases; these are compensatory equity grants that vest over time. The PSU conversion represents vested performance units converting into common shares.
• The May 18 sales were executed under a pre-existing 10b5-1 plan (automated sale plan), which is a common way insiders sell shares without new trading intent.
• This filing is largely reporting routine equity compensation vesting plus planned sales; it is factual reporting of grants/conversions and subsequent open-market disposals.