Matthew J. Murphy - 15 Oct 2023 Form 4 Insider Report for Marvell Technology, Inc. (MRVL)

Role
Chair of Board, President, CEO, Director
Signature
Matthew Murphy by Blair Walters as Attorney-in-Fact
Issuer symbol
MRVL
Transactions as of
15 Oct 2023
Net transactions value
-$2,161,940
Form type
4
Filing time
17 Oct 2023, 20:34:22 UTC
Previous filing
15 Sep 2023
Next filing
20 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 Shares Options Exercise $0 +7,517 +0.85% $0.000000 892,762 15 Oct 2023 By Trust F1
transaction MRVL Common Shares Tax liability $171,173 -3,253 -0.36% $52.62 889,509 15 Oct 2023 By Trust F1, F2
transaction MRVL Common Shares Options Exercise $0 +6,151 +0.69% $0.000000 895,660 15 Oct 2023 By Trust F1
transaction MRVL Common Shares Tax liability $138,496 -2,632 -0.29% $52.62 893,028 15 Oct 2023 By Trust F1, F2
transaction MRVL Common Shares Options Exercise $0 +11,038 +1.2% $0.000000 904,066 15 Oct 2023 By Trust F1
transaction MRVL Common Shares Tax liability $251,471 -4,779 -0.53% $52.62 899,287 15 Oct 2023 By Trust F1, F2
transaction MRVL Common Shares Sale $1,600,800 -30,000 -3.3% $53.36 869,287 16 Oct 2023 By Trust F1, F3, F4

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 -7,517 -33% $0.000000 15,034 15 Oct 2023 Common Shares 7,517 Direct F5, F6
transaction MRVL Restricted Stock Units Options Exercise $0 -6,151 -14% $0.000000 36,904 15 Oct 2023 Common Shares 6,151 Direct F5, F7
transaction MRVL Restricted Stock Units Options Exercise $0 -11,038 -9.1% $0.000000 110,383 15 Oct 2023 Common Shares 11,038 Direct F5, F8
* 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 Shares held by Matthew and Laura Murphy as co-trustees of the Matthew and Laura Murphy Family Trust UTD 7/10/2007.
F2 Surrender of shares in payment of tax withholding due as a result of the vesting of restricted stock units ("RSUs").
F3 Sales were made pursuant to a 10b5-1 Plan dated September 15, 2022 and modified on March 21, 2023.
F4 The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $52.45 to $53.76, 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.
F5 Each RSU represents a contingent right to receive one Marvell common share upon vesting.
F6 The remaining RSUs will vest on 01/15/2024 and 04/15/2024.
F7 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.
F8 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.