Loi Nguyen - Jun 1, 2023 Form 4 Insider Report for Marvell Technology, Inc. (MRVL)

Signature
Loi Nguyen by Blair Walters as Attorney-in-Fact
Stock symbol
MRVL
Transactions as of
Jun 1, 2023
Transactions value $
-$402,117
Form type
4
Date filed
6/5/2023, 12:21 PM
Previous filing
May 30, 2023
Next filing
Aug 29, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MRVL Common Stock Options Exercise $0 +3K +1.31% $0.00 232K Jun 1, 2023 Direct
transaction MRVL Common Stock Tax liability -$90.9K -1.49K -0.64% $61.10 231K Jun 1, 2023 Direct F1
transaction MRVL Common Stock Sale -$311K -5K -2.17% $62.24 226K Jun 2, 2023 Direct F2

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 Options Exercise $0 -3K -24.99% $0.00 9K Jun 1, 2023 Common Stock 3K Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Surrender of shares in payment of tax withholding due as a result of the vesting of Restricted Stock Units ("RSUs").
F2 The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 12/14/2022.
F3 Each RSU represents a contingent right to receive one Marvell Technology, Inc. common share upon vesting.
F4 The remaining RSUs will vest on 09/01/2023, 12/01/2023 and 03/01/2024.