Gary Merrill, Chief Financial Officer of Commvault Systems, Inc. (CVLT -6.05%), sold 3,147 shares of common stock on Aug. 18, 2026, and Aug. 19, 2026. SEC Form 4 filing. The sale was non-discretionary, executed to cover tax obligations associated with the vesting of restricted and performance stock units, and does not reflect the insider's view on the stock.
Transaction summary
| Metric | Value |
|---|---|
| Transaction value | ~$451,000 |
| Shares sold (directly held) | 3,147 |
| Post-transaction shares (directly held) | 69,628 |
| Post-transaction value | $9.56 million |
Transaction value based on SEC Form 4 weighted average sale price ($143.29); post-transaction value based on Aug. 19, 2026, market close ($137.32).
Key questions
- What initiated this disposal of equity?
The transaction was an automated sell-to-cover event intended to satisfy mandatory tax withholding requirements arising from the vesting of restricted and performance stock awards. - How does the Rule 10b5-1 plan govern the CFO's trading activity?
The sale was executed according to a pre-established Rule 10b5-1 plan adopted on Nov. 20, 2024, and later amended on June 13, 2025, which allows insiders to diversify their holdings at pre-determined intervals. - What is the scale of the CFO's remaining equity position?
Following this transaction, Merrill continues to hold 69,628 shares of common stock directly, which represented a total market value of $9.56 million as of the Aug. 19, 2026, market close. - What is the company's current financial profile and market standing?
Commvault Systems reported trailing twelve-month (TTM) revenue of $1.2 billion and net income of $68 million. At the same time, its common stock recorded a one-year return of -22% as of the transaction date of Aug. 19, 2026.
Company Overview
| Metric | Value |
|---|---|
| Share Price (as of market close 2026-08-18) | $142.81 |
| Market Capitalization | $5.9 billion |
| Revenue (TTM) | $1.2 billion |
| Net Income (TTM) | $68.3 million |
Company Snapshot
- Commvault Systems, Inc. provides a comprehensive cyber resilience platform that enables organizations to protect, back up, and recover data and cloud-native applications across on-premises and cloud environments worldwide.
- The company generates revenue through a software-as-a-service (SaaS) and subscription-based model, delivering operational recovery solutions, autonomous disaster recovery capabilities, and data mobility services that optimize infrastructure costs while ensuring business continuity.
- Commvault serves enterprise customers across multiple verticals, including financial services, healthcare, manufacturing, and government, targeting organizations with complex IT environments that require robust data protection and recovery capabilities.
NASDAQ: CVLT
Key Data Points
Commvault Systems is a leading provider of cyber resilience solutions with a market capitalization of $5.9 billion and TTM revenue of $1.2 billion, demonstrating significant scale in the enterprise software market.
The company's platform addresses critical business needs around data protection, disaster recovery, and cloud workload mobility, positioning it as a strategic solution for enterprises navigating digital transformation and cybersecurity challenges.
With 3,300 employees and a diversified customer base, Commvault maintains a competitive advantage through its integrated approach to backup, recovery, and autonomous disaster recovery capabilities across hybrid and multi-cloud environments.
What this transaction means for investors
This sale shouldn't concern investors. It represented a small percentage of the insider's holdings in the company's stock. The insider also continues to hold the substantial majority of his stake worth about $9 million.
Importantly, CommVault's TTM revenue has continued to grow at a double-digit rate, and its operating margin remains stable at around 6%.
Analysts still expect the company's earnings to grow sharply over the next few years. However, some of this growth may already be reflected in the share price, which trades at a high price-to-earnings multiple.
