Commvault Systems executives sold over $9.4 million in company shares between February and May 2026, following a 31% stock price collapse on January 27, 2026, after disappointing quarterly results. CEO Sanjay Mirchandani sold approximately 72,874 shares totaling over $7,015,973, CFO Gary Merrill sold approximately 20,474 shares totaling over $2,101,458, and Chief Accounting Officer Danielle Nicole Abrahamsen sold approximately 2,951 shares totaling over $305,668. The sales occurred as the company faces a federal securities class action alleging it misled investors about its growth prospects, with the lawsuit claiming Commvault created a misleading impression about its growth trajectory and failed to disclose the impact of lower-priced SaaS deals and heavy discounting on its ARR growth. The class period runs from April 29, 2025, to January 26, 2026, and the lead plaintiff deadline is July 17, 2026.
CommVault Systems IncExecutives sold $9.4M in stock after disappointing quarterly results and amid a securities class action alleging misleading growth disclosures.