MATTHEW J. MURPHY - 15 Jan 2024 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 Jan 2024
Net transactions value
-$2,694,384
Form type
4
Filing time
17 Jan 2024, 21:05:49 UTC
Previous filing
14 Dec 2023
Next filing
16 Feb 2024
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 +0.93% $0.000000 816,804 15 Jan 2024 By Trust F1
transaction MRVL Common Shares Tax liability $223,378 -3,401 -0.42% $65.68 813,403 15 Jan 2024 By Trust F1, F2
transaction MRVL Common Shares Options Exercise $0 +6,151 +0.76% $0.000000 819,554 15 Jan 2024 By Trust F1
transaction MRVL Common Shares Tax liability $176,811 -2,692 -0.33% $65.68 816,862 15 Jan 2024 By Trust F1, F2
transaction MRVL Common Shares Options Exercise $0 +11,038 +1.4% $0.000000 827,900 15 Jan 2024 By Trust F1
transaction MRVL Common Shares Tax liability $326,495 -4,971 -0.6% $65.68 822,929 15 Jan 2024 By Trust F1, F2
transaction MRVL Common Shares Sale $1,967,700 -30,000 -3.6% $65.59 792,929 16 Jan 2024 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 -50% $0.000000 7,517 15 Jan 2024 Common Shares 7,517 Direct F5, F6
transaction MRVL Restricted Stock Units Options Exercise $0 -6,151 -17% $0.000000 30,753 15 Jan 2024 Common Shares 6,151 Direct F5, F7
transaction MRVL Restricted Stock Units Options Exercise $0 -11,038 -10% $0.000000 99,345 15 Jan 2024 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 $64.79 to $66.96, 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 fully vest on 04/15/2024.
F7 The remaining RSUs will vest on 04/15/2024, 07/15/2024, 10/15/2024, 01/15/2025 and 04/15/2025.
F8 The remaining RSUs will vest on 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.