Marvell Technology Appoints New Directors, Details Executive Pay

Ticker: MRVL · Form: 8-K · Filed: 2024-04-29T00:00:00.000Z

Sentiment: neutral

Topics: governance, executive-compensation, board-of-directors

Related Tickers: MRVL

TL;DR

MRVL adds 2 directors, updates exec comp plans.

AI Summary

Marvell Technology, Inc. announced on April 25, 2024, changes in its board of directors and executive compensation arrangements. Specifically, the company elected two new directors, Dr. Michael J. Gallagher and Ms. Elizabeth A. Smith, to its board. Additionally, the filing details the compensatory arrangements for certain named executive officers, including base salary, potential bonuses, and equity awards.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy and governance, impacting investor confidence and future performance.

Risk Assessment

Risk Level: low — This filing primarily concerns board appointments and executive compensation, which are routine corporate governance matters and do not represent significant financial or operational risks.

Key Players & Entities

FAQ

Who are the newly elected directors to Marvell Technology's board?

Dr. Michael J. Gallagher and Ms. Elizabeth A. Smith were elected as new directors to the board of Marvell Technology, Inc.

What is the date of the earliest event reported in this 8-K filing?

The earliest event reported in this 8-K filing is April 25, 2024.

What are the main items covered in this Form 8-K filing?

This Form 8-K covers the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers, as well as financial statements and exhibits.

In which state is Marvell Technology, Inc. incorporated?

Marvell Technology, Inc. is incorporated in Delaware.

What is the principal executive office address for Marvell Technology, Inc.?

The principal executive offices are located at 1000 N. West Street, Suite 1200, Wilmington, Delaware 19801.

From the Filing

0001835632-24-000038.txt : 20240429 0001835632-24-000038.hdr.sgml : 20240429 20240429160440 ACCESSION NUMBER: 0001835632-24-000038 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20240425 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240429 DATE AS OF CHANGE: 20240429 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Marvell Technology, Inc. CENTRAL INDEX KEY: 0001835632 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 853971597 STATE OF INCORPORATION: DE FISCAL YEAR END: 0203 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-40357 FILM NUMBER: 24890557 BUSINESS ADDRESS: STREET 1: 1000 N. WEST STREET STREET 2: SUITE 1200 CITY: WILMINGTON STATE: DE ZIP: 19801 BUSINESS PHONE: (302) 295-4840 MAIL ADDRESS: STREET 1: 1000 N. WEST STREET STREET 2: SUITE 1200 CITY: WILMINGTON STATE: DE ZIP: 19801 8-K 1 mrvl-20240425.htm 8-K mrvl-20240425 0001835632 false 0001835632 2024-04-25 2024-04-25 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________ FORM 8-K _________________________ CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: April 25, 2024 (Date of earliest event reported) _________________________ MARVELL TECHNOLOGY, INC. (Exact name of registrant as specified in its charter)  _________________________ Delaware 001-40357 85-3971597 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 1000 N. West Street , Suite 1200 Wilmington , Delaware 19801 (Address of principal executive offices, including Zip Code) ( 302 ) 295-4840 (Registrant’s telephone number, including area code) _________________________ Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class   Trading Symbol   Name of each exchange on which registered Common Stock   MRVL   The Nasdaq Global Select Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).                    Emerging growth company     ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.     ¨ Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. The Board of Directors (the “Board”) of Marvell Technology, Inc. (the “Company”) approved the appointments of Rick Wallace and Daniel Durn to the Board effective April 25, 2024. Messrs. Wallace and Durn plan to stand for election at the 2024 annual meeting of stockholders expected to be held on June 20, 2024. The Board has

View on Read The Filing