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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Employee Stock Option (Right to Buy) | $ 17.66 | 08/24/2010 | A | 80,000 (1) (2) | 09/09/2010 | 06/30/2018 | Common Shares | 80,000 | $ 0 | 80,000 (1) (2) | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
HOSEIN CLYDE 5488 MARVELL LANE SANTA CLARA, CA 95054 |
CFO and Secretary |
/s/ Clyde Hosein | 08/26/2010 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | On June 30, 2008, Clyde Hosein was granted a performance-based option to purchase 200,000 common shares of Marvell Technology Group Ltd. (the "Company"). Performance is measured over six one-year performance periods based on the satisfaction of certain performance criteria. For the first five performance periods, 40,000 of the option shares plus any option shares that did not vest in a prior performance period will vest if the performance criteria are satisfied. In the sixth performance period, any option shares that did not vest in a prior performance period will vest if the performance criteria are satisfied. If at the end of the sixth and final performance period, any unvested performance-based stock options remain unvested as a result of not having met or exceeded the performance criteria during the final performance period then the remaining unvested options shall be cancelled. |
(2) | The performance criteria for the first performance period were not met and the applicable shares that were subject to vesting in the first performance period were rolled over into the second performance period. The performance criteria for the second performance period were met, as determined by the Executive Compensation Committee on August 24, 2010, which will result in vesting of the option as to 80,000 common shares on September 9, 2010. |