Matthew J. Murphy - Aug 22, 2023 Form 4 Insider Report for Marvell Technology, Inc. (MRVL)

Role: Chair of Board, President, CEO, Director
Signature: Matthew J. Murphy by /s/ Blair Walters as Attorney-in- Fact
Stock symbol: MRVL
Transactions as of: Aug 22, 2023
Transactions value $: $0
Form type: 4
Date filed: 8/24/2023, 09:45 PM
Previous filing: Aug 16, 2023
Next filing: Sep 15, 2023

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	MRVL	Restricted Stock Units	Award	$0	+235K		$0.00	235K	Aug 22, 2023	Common Stock	235K		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit (RSU) represents a contingent right to receive one Marvell Technology, Inc. common share upon vesting.
F2	This performance-based RSU included stock price and total stockholder return based performance vesting criteria. The performance condition for a tranche was certified on August 22, 2023. As a result of satisfaction of a stock price-based performance metric and the application of the second performance based criteria, a TSR modifier to the award, 235,484 shares are now solely subject to a service-based vesting condition pursuant to which 50% of the shares will be eligible to vest on the 3-year anniversary of the original grant date and 50% of the shares will be eligible to vest on the 5-year anniversary of the original grant date (subject to continued service to the company on the vesting dates). The other tranches of the grant remain outstanding as the performance criteria have not yet been satisfied.

Content

Each restricted stock unit (RSU) represents a contingent right to receive one Marvell Technology, Inc. common share upon vesting.

This performance-based RSU included stock price and total stockholder return based performance vesting criteria. The performance condition for a tranche was certified on August 22, 2023. As a result of satisfaction of a stock price-based performance metric and the application of the second performance based criteria, a TSR modifier to the award, 235,484 shares are now solely subject to a service-based vesting condition pursuant to which 50% of the shares will be eligible to vest on the 3-year anniversary of the original grant date and 50% of the shares will be eligible to vest on the 5-year anniversary of the original grant date (subject to continued service to the company on the vesting dates). The other tranches of the grant remain outstanding as the performance criteria have not yet been satisfied.