Form 4: Commvault CEO Sanjay Mirchandani Sells Shares in Multiple Transactions
SEC Form 4 Filing
Commvault CEO Sanjay Mirchandani reported the sale of company shares in several transactions between August 16 and August 20, 2024.
Summary
- Sanjay Mirchandani, the President and CEO of Commvault Systems Inc., sold shares of common stock between August 16 and August 20, 2024.
- The sales were executed in multiple transactions at varying prices.
- On August 16, 2024, he sold 2,344 shares at a weighted average price of $146.95, 4,406 shares at $147.59, and 3,988 shares at $148.1.
- On August 19, 2024, he sold 4,243 shares at $150.12, 3,665 shares at $149.66, and 6,984 shares at $150.26.
- On August 20, 2024, he sold 2,343 shares at $149.73 and 1,552 shares at $150.38.
- Following these transactions, Mirchandani directly owns 470,744 shares of Commvault common stock.
- Some shares were sold automatically to cover tax obligations related to vesting restricted stock.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing reporting stock sales by an executive. It doesn't inherently convey positive or negative sentiment, but the market may interpret insider sales in various ways.
Industry Context
Executive stock sales are a common occurrence and are often scrutinized by investors for insights into a company's prospects. It is important to consider the context of these sales, such as diversification, tax planning, or pre-arranged trading plans.
Stakeholder Impact
- Shareholders may react to the news of the CEO selling shares, potentially impacting the stock price.
Key Dates
| Date | Description |
|---|---|
| 08/14/2024 | Shares purchased under the Commvault Employee Stock Purchase Plan |
| 08/16/2024 | First reported transaction date: Sale of Common Stock |
| 08/19/2024 | Sale of Common Stock |
| 08/20/2024 | Last reported transaction date: Sale of Common Stock |
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