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This excerpt taken from the MRVL 10-K filed Jul 2, 2007. Board of Director Grants: Non-employee directors receive
initial and annual grants in their capacity as directors. A grant of 24,000
shares to a non-employee director, issued on an annual general meeting date in
accordance with the terms of his appointment letter, was outside the 1997
Directors’ Stock Option Plan and therefore required approval from the Board. The
Board approval was obtained at a later date. For accounting purposes, the grant
was re-measured based on the Company’s stock price at the date of the Board’s
ratification.
In December 2006, the terms of this option were reformed to reflect the revised stock option exercise price. This excerpt taken from the MRVL 10-Q filed Jul 2, 2007. Board of Director Grants:
Non-employee directors receive initial and annual grants in their
capacity as directors. A grant of 24,000
shares to a non-employee director, issued on an annual general meeting date in
accordance with the terms of his appointment letter, was outside the 1997
Directors’ Stock Option Plan and therefore, required approval from the
Board. The Board approval was obtained
at a later date. For accounting
purposes, the grant was re-measured based on our stock price at the date of the
Board’s ratification.
In December 2006, the terms of this option were reformed to reflect the revised stock option exercise price. This excerpt taken from the MRVL 10-Q filed Jul 2, 2007. Board of Director Grants:
Non-employee directors receive initial and annual grants in their
capacity as directors. A grant of 24,000
shares to a non-employee director, issued on an annual general meeting date in
accordance with the terms of his appointment letter, was outside the 1997
Directors’ Stock Option Plan and therefore required approval from the
Board. The Board approval was obtained
at a later date. For accounting purposes,
the grant was re-measured based on our stock price at the date of the Board’s
ratification.
In December 2006, the terms of this option were reformed to reflect the revised stock option exercise price. This excerpt taken from the MRVL 10-Q filed Jul 2, 2007. Board of Director Grants: Non-employee directors receive initial and
annual grants in their capacity as directors.
A grant of
43 24,000 shares to a non-employee director, issued on an annual general meeting date in accordance with the terms of his appointment letter, was outside the 1997 Directors’ Stock Option Plan and therefore, required approval from the Board. The Board approval was obtained at a later date. For accounting purposes, the grant was re-measured based on our stock price at the date of the Board’s ratification. In December 2006, the terms of this option were reformed to reflect the revised stock option exercise price. | EXCERPTS ON THIS PAGE:
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