Bharathi Sandeep 4

What Happened

• Bharathi Sandeep, President of Marvell's Data Center Group, had 4,713 derivative units convert to common stock (exercise/conversion). To cover withholding taxes, 2,482 of those shares were surrendered (value reported at $308.88/share, $766,640). The remaining 2,231 shares were sold in the open market at $299.13/share for $667,359. The conversions and the tax-surrender occurred June 15, 2026; the open-market sale occurred June 16, 2026. Overall this was an exercise/vesting event with shares surrendered for taxes and a portion sold — a routine liquidity action rather than a new purchase.

Key Details

• Dates/prices/values:
  • 2026-06-15: 4,713 derivative conversion (M) → 4,713 shares acquired (no cash exercise price shown).
  • 2026-06-15: 2,482 shares surrendered for tax withholding (F) at $308.88 = $766,640.
  • 2026-06-16: 2,231 shares sold on-market (S) at $299.13 = $667,359.
• Net effect: 4,713 shares converted, with all 4,713 subsequently disposed (2,482 surrendered; 2,231 sold) — no net increase in outstanding shares held from this event.
• Holdings after transaction: Form notes total holdings include 331 shares purchased on June 5, 2026 under Marvell's ESPP; the filing does not list a single consolidated post-transaction total share count.
• Footnotes: sales were made under a 10b5-1 plan (dated Dec 4, 2025); surrendered shares were to satisfy tax withholding due to RSU vesting; remaining RSUs vest on listed dates through June 15, 2029.
• Timeliness: Filing dated 2026-06-17 covers transactions on 6/15–6/16 and appears timely under SEC Form 4 reporting rules.

Context

• These were vested restricted stock units (each RSU converts to one share on vesting); surrendering shares to cover taxes is common and is coded as F (tax withholding). The immediate sale of a portion of vested shares via a pre-established 10b5-1 plan is a routine liquidity step and not, by itself, a directional endorsement of the stock.