Commvault Systems, Inc. 8-K Summary
Business Context and Reporting Period
This Form 8-K Current Report was filed on August 20, 2021, covering events occurring on August 19, 2021. The filing documents the results of the Company's 2021 Annual Meeting of Stockholders held on that date.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on corporate governance and stockholder voting outcomes.
Material Changes and Voting Results
Stockholders voted on four key matters at the Annual Meeting:
- Election of Directors: Stockholders elected Keith Geeslin, Vivie "YY" Lee, and Sanjay Mirchandani for terms expiring at the 2022 annual meeting. All three candidates received significant majority support.
- Ratification of Auditors: Stockholders ratified the appointment of Ernst & Young LLP as the independent public accountants for the fiscal year ending March 31, 2022.
- Incentive Plan Amendment: Stockholders approved the Fifth Amendment to the Omnibus Incentive Plan, increasing the number of shares available for issuance by 2,000,000 to a total of 10,050,000 shares.
- Executive Compensation: Stockholders cast a non-binding advisory vote on executive compensation, approving the Company's pay practices.
Guidance, Outlook, and Risks
The filing does not provide financial guidance, management outlook, or discuss specific risks or contingencies. It notes that the Company will continue to submit executive compensation to stockholders for a non-binding advisory vote annually, consistent with the 2017 frequency vote.
Key Facts for Investor Verification
- Verify the total number of shares authorized under the amended Omnibus Incentive Plan (10,050,000) against the Company's current share count to assess potential dilution.
- Review the detailed vote counts for the Incentive Plan amendment, which received 33,985,073 votes "For" and 5,394,943 votes "Against," indicating a notable minority opposition compared to other proposals.
- Confirm the re-election of the specific directors listed (Geeslin, Lee, Mirchandani) to ensure board continuity.