Company: CVLT
Filing Date: 2025-06-25
Form Type: DEF 14A
Source: 0001169561-25-000059
Chunk: 28

Company: COMMVAULT SYSTEMS INC
Filing Date: 2025-06-25
Form: DEF 14A
Chunk 28
---
 12, 2024.

#### 33COMMVAULT SYSTEMS, INC. |2025 PROXY STATEMENT
Table of Contents

| CD&A  |FISCAL YEAR 2025 COMPENSATION DECISIONS |

#### Performance Measures
In May 2024, the TMCC selected total revenue (weighted 60%) and non-GAAP EBIT (weighted 40%) as the performance metrics for the Fiscal 2025 AIP. These metrics were selected because the TMCC believes that, at this stage of our development, revenue growth and profitability are the most relevant measures of Commvault’s financial performance and the measures most closely correlated to increasing stockholder value. In fact, in the course of our regular stockholder engagements, stockholders often mention their approval of our revenue and non-GAAP EBIT performance measures. Further, in our public communications (including on earnings calls), our disclosures typically reference revenue and non-GAAP EBIT, in addition to GAAP performance metrics, as the primary means we use to evaluate our own performance. In other words, these metrics are closely tied to how we manage the business.

For purposes of the Fiscal 2025 AIP, the TMCC set the various performance levels for these performance metrics and the payout amounts for each performance level as shown below.

For Messrs. Mirchandani and Merrill and Ms. DiRico

| Metric        |     | Weight |     | Threshold    
 (50% payout) |     | Target        
 (100% payout) |     | Maximum       
 (200% payout) |
| Revenue       |     | 60%    |     | 89%          |     | 100%          |     | 105%          |
| Non-GAAP EBIT |     | 40%    |     | 88%          |     | 100%          |     | 110%          |

If actual performance falls between the specified goals, the payout percentage is calculated on a linear basis.

The actual bonus paid to an individual NEO, other than our CEO, is also subject to modification based on individual performance, +/- 200% of achievement.

#### For Mr. Merrill
During the first quarter of our fiscal 2025, Mr. Merrill participated in our Fiscal 2025 AIP in his role as our CFO. In connection with his appointment as our CCO in August 2024, the TMCC approved a transition in Mr. Merrill’s variable cash incentive to incorporate different targets and multipliers that emphasize the