Form 4: Marvell Technology Executive Muhammad Raghib Hussain Reports Stock Transactions
SEC Form 4
Muhammad Raghib Hussain, President of Products & Technology at Marvell Technology, reported the sale and acquisition of company stock and restricted stock units on October 15, 2024.
Summary
- On October 15, 2024, Muhammad Raghib Hussain, President, Products & Tech at Marvell Technology, reported transactions involving Marvell Technology's common shares and restricted stock units (RSUs).
- Hussain sold 150,000 common shares at a price of $80.5.
- He also acquired shares through the vesting of RSUs.
- Shares were surrendered to cover tax obligations related to the vesting of RSUs at a price of $79.41.
- Following these transactions, Hussain directly owns 698,764 common shares and indirectly owns 88,081 shares through family trusts.
- He also holds a number of restricted stock units that will vest over the next few years.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document simply reports transactions. The sale is pre-planned.
Future Outlook
The document does not contain explicit forward-looking statements, but it does detail the vesting schedule for the executive's remaining RSUs.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. Investors often monitor these filings for signals about management's confidence in the company's prospects.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units (RSUs) that vest over time, aligning executive incentives with long-term shareholder value.
- Sales under 10b5-1 plans are a common practice among corporate executives to avoid accusations of insider trading, similar to practices at companies like NVIDIA and AMD.
- The vesting schedules of RSUs are comparable to those offered by other technology companies to retain key personnel.
Stakeholder Impact
- The stock sale could have a minor, short-term impact on shareholders.
- The vesting of RSUs has no immediate impact on stakeholders.
Key Dates
| Date | Description |
|---|---|
| 03/27/2024 | Date of 10b5-1 Plan |
| 10/15/2024 | Date of stock transactions and RSU vesting |
| 01/15/2025 | First vesting date of remaining RSUs |
| 04/15/2025 | Second vesting date of remaining RSUs |
| 07/15/2025 | Third vesting date of remaining RSUs |
| 10/15/2025 | Fourth vesting date of remaining RSUs |
| 01/15/2026 | Fifth vesting date of remaining RSUs |
| 04/15/2026 | Sixth vesting date of remaining RSUs |
| 07/15/2026 | Seventh vesting date of remaining RSUs |
| 10/15/2026 | Eighth vesting date of remaining RSUs |
| 01/15/2027 | Ninth vesting date of remaining RSUs |
| 04/15/2027 | Tenth vesting date of remaining RSUs |
| 10/17/2024 | Date of signature for the report |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.