Company: CVLT
Filing Date: 2025-06-25
Form Type: DEF 14A
Source: 0001169561-25-000059
Chunk: 31

Company: COMMVAULT SYSTEMS INC
Filing Date: 2025-06-25
Form: DEF 14A
Chunk 31
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 to ensure the recipient has a meaningful incentive to remain a Commvault employee.

In preparation for granting annual equity awards in May 2024, the TMCC reviewed a competitive market analysis prepared by Compensia to obtain data primarily related to the grant date fair value of the equity awards granted to similarly situated executives at companies in our compensation peer group. The annual equity awards granted to our NEOs in May 2024 were provided in three forms, and subject to the terms and conditions shown below.

| Time-Based RSU awards   
 40%                     |     | These awards vest 33.3% on the first anniversary of the grant date and an additional 8.375% quarterly thereafter until fully vested, generally subject to continued employment on the vesting date.                                                                                                                                                      |
| Relative TSR PSU awards 
 30%                     |     | Recipients may earn up to 300% of their target award based on Commvault’s TSR performance relative to the components of the Russell 3000 Index over equally weighted one-year, two-year, and three-year performance periods. Earned shares, if any, vest at the end of each applicable annual performance period.                                        |
| Financial PSU awards    
 30%                     |     | Recipients may earn up to 300% of their target award based 100% on Commvault’s total annualized recurring revenue (“ARR”) for fiscal 2025. Earned shares, if any, vest 33.3% on the first anniversary of the grant date and an additional 8.375% quarterly thereafter until fully vested, generally subject to continued employment on the vesting date. |

Based on the competitive market analysis prepared by Compensia, Commvault’s long-term equity grants are more heavily weighted toward performance-based awards than is the norm within our compensation peer group.

#### 35COMMVAULT SYSTEMS, INC. |2025 PROXY STATEMENT
Table of Contents

| CD&A  |FISCAL YEAR 2025 COMPENSATION DECISIONS |

Taking into consideration market data and the performance of individual executive officers, the TMCC approved the following equity award grants for our NEOs during fiscal 2025:

| Executive          |     | Aggregate     
 target value  |     |        | Time-based restricted 
 stock unit awards (#) |     |        | Relative TSR   
 PSU awards (#) |     | Financial PSU 
    awards (#) |
| Sanjay Mirchandani |     | $12.5 million |     | 45,558 |