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 | +75K | $0.00 | 75K | Aug 22, 2023 | Common Stock | 75K | Direct | F1, F2 |
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, 74,975 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. |