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This excerpt taken from the MRVL 10-K filed Jul 2, 2007. Exercised options. The option grants had been originally
issued as incentive stock options. Due to the re-measurement caused by the
re-pricing, they have become non-statutory stock options. The Company has accrued
employment taxes for the exercise in each of the years due to the conversion of
the options from incentive to non-statutory. Included in the restated results through
fiscal 2006 are additional employer and employee withholding taxes relating to
exercises of affected options totaling $7.6 million, including penalties and
interest. The amounts represent additional compensation expense and have been
classified in their respective functional categories. On a calendar year basis
the amounts total: calendar 2003 of $0.8 million, calendar 2004 of $1.9 million,
calendar 2005 of $3.7 million, and calendar 2006 of $4.2 million. The above
table reflects the amounts on a fiscal year basis. The full amount of
compensation, taxes, interest and penalties has been accrued as reflected above
as well as in fiscal 2007. The total amount accrued through fiscal 2007 is
$10.6 million.
112 MARVELL TECHNOLOGY GROUP LTD. · |
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