Business Context and Reporting Period
This Form 8-K is a current report filed by Commvault Systems, Inc. on February 5, 2018, regarding events that occurred on February 2, 2018. The filing addresses corporate governance changes rather than financial performance.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is limited to the appointment of a director and does not contain financial statements or operational metrics.
Material Changes
The primary material change reported is the appointment of Vivie ("YY") Lee as a Class II Director of Commvault Systems, Inc. by the Board of Directors on February 2, 2018. Her term is set to last until the company's 2018 Annual Meeting of Stockholders.
Guidance, Outlook, and Management Commentary
- Compensation: Upon appointment, YY Lee received an annual director retainer consisting of cash and restricted stock units. This compensation is prorated to reflect her partial year term and aligns with the company's non-employee director compensation policy.
- Policy Reference: The compensation policy details are incorporated by reference from the company's 2017 Annual Meeting proxy statement.
- Outlook and Risks: The filing contains no guidance, outlook, risk factors, or discussion of unusual items.
Key Facts for Investor Verification
- Confirmation of Vivie ("YY") Lee's appointment as a Class II Director effective February 2, 2018.
- Review of the 2017 Annual Meeting proxy statement (pages 35-36) to understand the specific cash and restricted stock unit structure for non-employee directors.
- Verification of the press release attached as Exhibit 99.1 for additional context on the appointment.