Company: CVLT
Filing Date: 2025-06-25
Form Type: DEF 14A
Source: 0001169561-25-000059
Chunk: 42

Company: COMMVAULT SYSTEMS INC
Filing Date: 2025-06-25
Form: DEF 14A
Chunk 42
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05/16/22 |                  | — |     |          | — |     |            | — |     |                           |  2,068 |           |                                                            |    326,248 |     |                                                               |  2,519 |     |                                                   |   397,397 |

1. Unless otherwise indicated, all RSU awards granted to our NEOs vest over three years, with 33.3% vesting on the first anniversary of the grant date and 8.375% vesting quarterly thereafter, subject, in each case, to continued employment or service through the applicable vesting date. Financial performance awards follow the same vesting schedule, but at their respective achievement rates. Relative TSR-based awards vest equally on an annual basis over three years, subject to continued employment or service through the applicable vesting date. The vesting commencement date for all RSU awards and PSU awards is the grant date.

2. Time-based awards include time-vesting RSU awards and financial PSU awards at the rate achieved for the respective fiscal year. The May 2022 financial PSU awards achieved at 128%, the May 2023 financial PSU awards achieved at 108%, and the May 2024 financial PSU awards achieved at 105%. The value is computed based on the number of achieved unvested shares multiplied by the closing market price of our common stock at the end of fiscal 2025. The actual value (if any) to be realized by the NEO depends on whether the shares vest and the future performance of our common stock. On March 31, 2025, the closing price of our common stock was $157.76 per share. See “Long-Term Equity Incentive Awards” in “Fiscal 2025 Compensation Decisions” for more information on the plan and the related performance objectives.

3. Performance-based awards include Relative TSR PSU awards at the March 31, 2025 payout rate based on Commvault’s TSR measured relative to the components of the Russell 3000 Index. The May 2022, May 2023 and May 2024 awards are calculated at an estimated 100% payout (target). The value is computed based on the number of achieved unvested shares multiplied by the closing market price of our common stock at the end of fiscal 2025. The actual value (if any) to be realized by the NEO depends on whether the shares vest and the future performance of our common stock. On March 31, 2025