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Marvell Technology, Inc.·4

Apr 17, 3:17 PM ET

Casper Mark 4

Research Summary

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Updated

Marvell (MRVL) EVP Mark Casper Exercises Awards, Surrenders Shares

What Happened

  • Mark Casper, Executive Vice President & Chief Legal Officer of Marvell Technology (MRVL), had performance and restricted stock units convert/vest on April 15, 2026. He received a total of 83,018 shares from conversions and an additional 14,280-share award (derivative), and surrendered 41,163 shares to cover tax withholding.
  • The surrendered shares were recorded as payments for tax liabilities (code F) at a reported share value of $134.60, totaling $5,540,539 across multiple withholding events (breakouts shown on the Form 4). The conversions/vests are reported at $0.00 per share because they were awards/derivative settlements (code M/A).

Key Details

  • Transaction date: April 15, 2026; Form 4 filed April 17, 2026 (timely within the usual two-business-day window).
  • Conversions/exercises (code M) reported: 2,208; 1,394; 1,529; 77,887 shares (total 83,018). Grant/award (code A): 14,280 shares.
  • Shares surrendered for tax withholding (code F): 1,095 ($147,387), 692 ($93,143), 759 ($102,161), and 38,617 ($5,197,848) — total surrendered = 41,163 shares for $5,540,539.
  • Footnotes of note:
    • F10: Performance stock units fully vested and were certified on April 15, 2026.
    • F1/F2: Surrenders were to satisfy tax withholding on vesting of restricted and performance stock units.
    • F4/F9: Each RSU/PSU represents a contingent right to one share upon vesting.
    • F3: Some shares are held in the Mark J. Casper and Stephanie Casper Revocable Trust for family benefit.
  • The filing does not indicate any open-market sale by Casper — the disposals are net share surrenders to cover taxes (routine).

Context

  • This is a net settlement of equity awards (common for vesting RSUs/PSUs): awards converted to shares, and a portion was withheld/surrendered to pay taxes rather than sold on the open market. Such tax-withholding surrenders are routine and do not necessarily indicate insider sentiment about the stock.
  • Transaction codes: M = exercise/conversion of derivative (vesting of RSUs/PSUs), A = award/grant, F = payment of exercise price or tax liability (surrendered shares).