Muhammad Raghib Hussain - Aug 22, 2023 Form 4 Insider Report for Marvell Technology, Inc. (MRVL)

Signature
Muhammad Raghib Hussain 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, 09:46 PM
Previous filing
Aug 1, 2023
Next filing
Oct 17, 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 +75K $0.00 75K Aug 22, 2023 Common Stock 75K 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, 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.