Matthew J. Murphy - 15 Apr 2024 Form 4 Insider Report for Marvell Technology, Inc. (MRVL)

Role
Chair of Board, President, CEO, Director
Signature
/s/ Matthew J. Murphy by Blair Walters as attorney-in-fact
Issuer symbol
MRVL
Transactions as of
15 Apr 2024
Net transactions value
-$2,817,389
Form type
4
Filing time
16 Apr 2024, 18:51:05 UTC
Previous filing
18 Mar 2024
Next filing
16 May 2024
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 +7,517 +1% $0.000000 740,446 15 Apr 2024 By Trust F1
transaction MRVL Common Stock Tax liability $225,837 -3,327 -0.45% $67.88 737,119 15 Apr 2024 By Trust F1, F2
transaction MRVL Common Stock Options Exercise $0 +6,150 +0.83% $0.000000 743,269 15 Apr 2024 By Trust F1
transaction MRVL Common Stock Tax liability $184,701 -2,721 -0.37% $67.88 740,548 15 Apr 2024 By Trust F1, F2
transaction MRVL Common Stock Options Exercise $0 +11,039 +1.5% $0.000000 751,587 15 Apr 2024 By Trust F1
transaction MRVL Common Stock Tax liability $342,251 -5,042 -0.67% $67.88 746,545 15 Apr 2024 By Trust F1, F2
transaction MRVL Common Shares Sale $2,064,600 -30,000 -4% $68.82 716,545 15 Apr 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 -100% $0.000000* 0 15 Apr 2024 Common Stock 7,517 Direct F5, F6
transaction MRVL Restricted Stock Units Options Exercise $0 -6,150 -20% $0.000000 24,603 15 Apr 2024 Common Stock 6,150 Direct F5, F7
transaction MRVL Restricted Stock Units Options Exercise $0 -11,039 -11% $0.000000 88,306 15 Apr 2024 Common Stock 11,039 Direct F5, F8
transaction MRVL Restricted Stock Units Other $0 +143,421 $0.000000 143,421 15 Apr 2024 Common Stock 143,421 Direct F5, F9
transaction MRVL Restricted Stock Units Award $0 +83,624 $0.000000 83,624 15 Apr 2024 Common Stock 83,624 Direct F5, F10
* 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 $67.73 to $71.64, 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 This award fully vested on April 15, 2024.
F7 The remaining RSUs will vest on 07/15/2024, 10/15/2024, 01/15/2025 and 04/15/2025.
F8 The remaining RSUs will vest on 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.
F9 This grant fully vested on 04/15/2024, but settlement of this grant has been deferred by the recipient. Reflects the number of shares earned in respect of performance based RSUs granted on 04/15/2021. The achievement levels of the relative TSR performance metrics applicable to the award and the number of shares earned based on such results were certified on 04/15/2024.
F10 The RSUs will vest in equal quarterly installments over three years, and were granted as part of the annual grant process