Marvell Technology Files 2024 Proxy Statement

TL;DR

Marvell's proxy statement is out for the June 20th meeting - vote your shares!

AI Summary

Marvell Technology, Inc. filed its definitive proxy statement (DEF 14A) on May 8, 2024, for its annual meeting on June 20, 2024. The filing details the company's governance, executive compensation, and proposals to be voted on by shareholders. Key items likely include the election of directors and ratification of auditors.

Why It Matters

This filing provides shareholders with crucial information to make informed voting decisions on company leadership and important corporate matters at the upcoming annual meeting.

Risk Assessment

Risk Level: low — This is a standard DEF 14A filing, which is routine for public companies and does not inherently indicate new risks.

Key Players & Entities

• Marvell Technology, Inc. (company) — Registrant
• 0001104659-24-058658 (filing_id) — Accession Number
• 20240508 (date) — Filing Date
• 20240620 (date) — Meeting Date

FAQ

From the Filing

0001104659-24-058658.txt : 20240508 0001104659-24-058658.hdr.sgml : 20240508 20240508160559 ACCESSION NUMBER: 0001104659-24-058658 CONFORMED SUBMISSION TYPE: DEF 14A PUBLIC DOCUMENT COUNT: 43 CONFORMED PERIOD OF REPORT: 20240620 FILED AS OF DATE: 20240508 DATE AS OF CHANGE: 20240508 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: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 001-40357 FILM NUMBER: 24925864 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 DEF 14A 1 tm242819-d2_def14a.htm DEF 14A tm242819-1_nonfiling - none - 11.8227071s TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.    ) ​ Filed by the Registrant ☒ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☐ Preliminary Proxy Statement ​ ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ​ ☒ Definitive Proxy Statement ​ ☐ Definitive Additional Materials ​ ☐ Soliciting Material under §240.14a-12 ​ Marvell Technology, Inc. ​ (Name of Registrant as Specified in Its Charter)     ​ (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): ☒ No fee required. ​ ☐ Fee paid previously with preliminary materials. ​ ☐ Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a6(i)(1) and 0-11. ​ TABLE OF CONTENTS TABLE OF CONTENTS To our Stockholders Marvell executed well in fiscal 2024 as we delivered total revenue of $5.5 billion and continued to transform the company to capitalize on the semiconductor industry’s most compelling growth opportunities. Artificial Intelligence (AI) is driving a generational change in data center architecture, and Marvell is one of the key enablers of this shift. As customers increasingly allocate spend to ensure their infrastructure supports AI workloads, the demand for Marvell’s data center products — including custom silicon, optical connectivity, and switching — has surged. As a result, our Data Center revenue grew from about one-third of Marvell’s total revenue at the start of the year to more than half as we exited the fiscal fourth quarter. AI-related revenue more than tripled from approximately 3% in FY23 to more than 10% of total company revenue in FY24. In addition to the growth of our Data Center business, in fiscal year 2024 our Automotive revenue grew annually as we continued to win new business across a broad swath of automotive OEMs. These customers rely on a growing number of Ethernet-connected endpoints to increase bandwidth and connect an array of computing functions within their vehicles and to the cloud. While our Data Center and Automotive businesses grew in fiscal year 2024, our Carrier Infrastructure end market experienced a global softening in demand as customers slowed their 5G deployments and reduced Capex. At the same time, Marvell’s Enterprise Networking business experienced the impact of a global slowdown in IT spending. Despite these cyclical trends, our Carrier and Enterprise businesses serve large and enduring end markets that are essential to the global economy, and we expect customer demand for our leading-edge products to resume. Controlling