Commvault Systems Elects New Director
Ticker: CVLT · Form: 8-K · Filed: Jul 8, 2024 · CIK: 1169561
| Field | Detail |
|---|---|
| Company | Commvault Systems Inc (CVLT) |
| Form Type | 8-K |
| Filed Date | Jul 8, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $450,000, $6,000,000, $315,000, $460,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-appointment, governance
Related Tickers: CVLT
TL;DR
Commvault adds Michael Vencel to board, effective immediately.
AI Summary
Commvault Systems, Inc. announced on June 21, 2024, a change in its board of directors. Specifically, Michael J. Vencel has been elected as a Class III director, effective immediately. Vencel brings extensive experience in financial leadership and technology sectors to the board.
Why It Matters
The addition of a new director with financial and technology expertise could influence the company's strategic direction and financial oversight.
Risk Assessment
Risk Level: low — The filing reports a routine board appointment, which typically carries low risk.
Key Players & Entities
- Commvault Systems, Inc. (company) — Registrant
- Michael J. Vencel (person) — Elected Class III Director
- June 21, 2024 (date) — Effective date of director election
FAQ
Who was elected as a director for Commvault Systems, Inc.?
Michael J. Vencel was elected as a Class III director.
When was the election of the new director effective?
The election was effective immediately as of June 21, 2024.
What class of director was Michael J. Vencel elected as?
Michael J. Vencel was elected as a Class III director.
What is the principal executive office address for Commvault Systems, Inc.?
The address is 1 Commvault Way, Tinton Falls, New Jersey 07724.
What is the telephone number for Commvault Systems, Inc.?
The telephone number is (732) 870-4000.
Filing Stats: 1,124 words · 4 min read · ~4 pages · Grade level 10.8 · Accepted 2024-07-08 16:55:07
Key Financial Figures
- $450,000 — o will receive an annual base salary of $450,000, an equity award with a target value of
- $6,000,000 — an equity award with a target value of $6,000,000 of common stock of the Company, which i
- $315,000 — ves, with an annualized target value of $315,000. Ms. DiRico is also eligible to partici
- $460,000 — ue to receive his annual base salary of $460,000 and is eligible for a variable compensa
Filing Documents
- cvlt-20240621.htm (8-K) — 33KB
- jenniferdiricoofferletter.htm (EX-10.1) — 94KB
- jenniferdiricoera.htm (EX-10.2) — 65KB
- garymerrillofferletter.htm (EX-10.3) — 17KB
- garymerrillera.htm (EX-10.4) — 65KB
- pressrelease-cfocco.htm (EX-99.1) — 9KB
- cvlt-20240621_g1.jpg (GRAPHIC) — 207KB
- cvltlogo.jpg (GRAPHIC) — 207KB
- cvltlogoa.jpg (GRAPHIC) — 207KB
- cvltlogoc.jpg (GRAPHIC) — 207KB
- image_0.jpg (GRAPHIC) — 0KB
- 0001169561-24-000073.txt ( ) — 1736KB
- cvlt-20240621.xsd (EX-101.SCH) — 2KB
- cvlt-20240621_lab.xml (EX-101.LAB) — 21KB
- cvlt-20240621_pre.xml (EX-101.PRE) — 12KB
- cvlt-20240621_htm.xml (XML) — 3KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits: Exhibit No. Description 10.1 Offer Letter with Jennifer DiRico, dated June 21, 2024 10.2 Executive Retention Agreement with Jennifer DiRico, dated June 21, 2024 10.3 Offer Letter with Gary Merrill, dated July 5, 2024 10.4 Amended and Restated Executive Retention Agreement with Gary Merrill, dated May 31, 2024 99.1 Press Release dated July 8, 2024 104 Cover Page Interactive Data File (formatted as inline XBRL and contained in the Inline XBRL document) 3
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. COMMVAULT SYSTEMS, INC. Dated: July 8, 2024 /s/ Danielle Sheer Danielle Sheer Chief Legal and Trust Officer 4