Form 4: Marvell Technology Executive Receives 74,975 Shares After Performance Goals Met

Marvell Technology's President of Products & Tech, Muhammad Raghib Hussain, received 74,975 shares of common stock after performance-based restricted stock units vested.

Summary

• Muhammad Raghib Hussain, President of Products & Tech at Marvell Technology, Inc., received 74,975 shares of common stock.
• These shares were awarded as part of a performance-based restricted stock unit (RSU) agreement.
• The vesting of these shares was contingent on meeting specific stock price and total stockholder return (TSR) performance criteria.
• The performance condition for a tranche was certified on January 24, 2025.
• As of January 24, 2025, performance-based criteria have now been satisfied for 3 of the 4 performance-based tranches.
• The shares are now subject to service-based vesting, with 50% vesting on the 3-year anniversary of the original grant date and the remaining 50% on the 5-year anniversary, contingent on continued service.

Sentiment

Score: 7

Explanation: The document reflects a positive event of performance goals being met, leading to share vesting. This is generally a good sign for the company's performance and executive alignment.

Positives

• The vesting of the shares indicates that performance goals were met, which is a positive sign for the company's performance.
• The service-based vesting schedule encourages long-term commitment from the executive.

Future Outlook

The remaining shares from the original grant will vest based on continued service over the next 3 and 5 years.

Industry Context

This type of equity compensation is common in the technology industry to align executive interests with company performance and shareholder value.

Comparison to Industry Standards

• Performance-based equity awards are a standard practice in the tech industry, with companies like Intel, AMD, and Nvidia using similar structures to incentivize executives.
• The vesting schedule of 3 and 5 years is also typical, aligning with long-term strategic goals.
• The specific performance metrics, such as stock price and total shareholder return, are common benchmarks used to measure executive performance.

Stakeholder Impact

• Shareholders may view this positively as it indicates that performance goals are being met.
• Employees may see this as a positive sign of the company's success and potential for future growth.

Next Steps

• The remaining shares will vest based on continued service over the next 3 and 5 years.

Key Dates

Keywords

Marvell Technology, Restricted Stock Units, RSU, Stock Vesting, Performance-Based Compensation, Executive Compensation, Muhammad Raghib Hussain, Equity Award