Commvault Systems, Inc. (CVLT) Earnings Call Transcript & Summary

Good morning, and welcome to the Commvault Systems 2025 Annual Shareholder Meeting. I would now like to turn the call over to Michael Melnyk, Head of Investor Relations. Please go ahead.

Good morning, ladies and gentlemen. I want to welcome you to Commvault's Annual Meeting of Stockholders. I'm Michael Melnyk, Head of Investor Relations at Commvault, and I'll be presiding over and serving as secretary for the meeting. With us today are Adela Foresight from Computershare who has been appointed to act as the election inspector; and Maureen Bashara from E&Y. I would also like to welcome members of the company's management team and Board of Directors who are present at this meeting. Please note that the Corporate Secretary has delivered an affidavit of mailing, establishing that notice of this meeting was duly given. All stockholders of record at the close of business on June 20, 2025, the record date, are entitled to vote at this annual meeting. As of the record date, there were approximately 44.5 million shares of stock entitled to vote at this meeting. We're informed by Computershare that they are represented in person or by proxy at least 41.9 million shares of common stock or approximately 94% of all the shares entitled to vote at this meeting. As this constitutes a majority, the meeting is duly convened for purposes of transacting such business as may properly come before it. The matters to be voted on at today's meeting are: the first proposal is to elect 9 nominees as directors to serve 1-year terms. The nominees for election are Sanjay Mirchandani, Nicholas Adamo; Martha Bejar, Keith Geeslin, Vivie “YY” Lee, Charles Moran, Allison Pickens, Shane Sanders and Arlen Shenkman. The second proposal is to approve, on an advisory basis, Commvault's executive compensation. The third proposal is to ratify the appointment of Ernst & Young LLP as the company's independent auditors for the fiscal year ending March 31, 2026. And the final proposal is to approve 1.3 million additional shares for issuance under Commvault's 2016 Omnibus Incentive Plan as amended. The Board of Directors recommends that stockholders vote for proposals 1 through 4. If any stockholder would like to make a comment regarding any of the proposals, please do so at this time as the polls will close momentarily. If you previously voted by proxy, you do not need to vote today unless you wish to change your vote. If you've not yet voted, you may do so at this time by completing the ballot available on our website and e-mailing it to [email protected]. I'll now pause to see if there's any questions. And there are no questions being phoned or by e-mail. Now that everyone has had the opportunity to vote, I hereby declare the polls closed. We have been informed by the election inspector that the preliminary results have been counted and with over 94% of stockholders voting, all proposals have been approved. Final results will be publicly available once the votes have been certified by the election inspector. Thank you all for attending today's meeting. It is now adjourned.

This concludes the meeting. You may now disconnect your lines. Have a pleasant day, everyone.