Mitchell Gaynor - 15 Oct 2023 Form 4 Insider Report for Marvell Technology, Inc. (MRVL)

Role
EVP, Chief Admin Officer
Signature
Mitchell Gaynor by Blair Walters as Attorney-in-Fact
Issuer symbol
MRVL
Transactions as of
15 Oct 2023
Net transactions value
-$545,038
Form type
4
Filing time
17 Oct 2023, 18:34:55 UTC
Previous filing
18 Jul 2023
Next filing
16 Nov 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MRVL Common Stock Options Exercise $0 +1,615 +1.1% $0.000000 150,530 15 Oct 2023 Direct
transaction MRVL Common Stock Tax liability $42,149 -801 -0.53% $52.62 149,729 15 Oct 2023 Direct F1
transaction MRVL Common Stock Options Exercise $0 +1,258 +0.84% $0.000000 150,987 15 Oct 2023 Direct
transaction MRVL Common Stock Tax liability $32,835 -624 -0.41% $52.62 150,363 15 Oct 2023 Direct F1
transaction MRVL Common Stock Options Exercise $0 +1,881 +1.3% $0.000000 152,244 15 Oct 2023 Direct
transaction MRVL Common Stock Tax liability $49,094 -933 -0.61% $52.62 151,311 15 Oct 2023 Direct F1
transaction MRVL Common Stock Sale $420,960 -8,000 -5.3% $52.62 143,311 15 Oct 2023 Direct F2, F3

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 -1,615 -33% $0.000000 3,229 15 Oct 2023 Common Stock 1,615 Direct F4, F5
transaction MRVL Restricted Stock Units Options Exercise $0 -1,258 -14% $0.000000 7,545 15 Oct 2023 Common Stock 1,258 Direct F4, F6
transaction MRVL Restricted Stock Units Options Exercise $0 -1,881 -9.1% $0.000000 18,807 15 Oct 2023 Common Stock 1,881 Direct F4, F7
* 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 06/27/2023.
F3 The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $52.34 to $52.85, inclusive. The reporting person undertakes to provide Marvell Technology, Inc. ("Marvell"), any security holder of Marvell, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to this Form 4.
F4 Each RSU represents a contingent right to receive one Marvell common share upon vesting.
F5 The remaining RSUs will vest on 01/15/2024 and 04/15/2024.
F6 The remaining RSUs will vest on 01/15/2024, 04/15/2024, 07/15/2024, 10/15/2024, 01/15/2025 and 04/15/2025.
F7 The remaining RSUs will vest on 01/15/2024, 04/15/2024, 07/15/2024, 10/15/2024, 01/15/2025, 04/15/2025, 07/15/2025, 10/15/2025, 01/15/2026 and 04/15/2026.