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This excerpt taken from the MRVL 10-K filed Jul 2, 2007. Officer Grants: During the Relevant Period, the Company
granted options on 13 different dates (including the Re-priced Officer Grants) to
the then-Section 16 Officers — Dr. Sehat Sutardja, Weili Dai, Dr. Pantas
Sutardja and George Hervey. The Company recorded additional compensation costs
for one grant on December 26, 2003 (which represented 75% of options
granted) for three of the officers who were also founders of the Company (“Founder
Officers”) and six grants (which represented 96% of options granted) for George
Hervey. For accounting purposes, the grant of 12,640,000 shares to the Founder
Officers was re-measured based on the stock price at the date the Executive
Compensation Committee meeting occurred to approve the grants. Grants to George
Hervey totaling 1,279,892 shares of options originally priced at the “as of”
dates of the written consents have been re-measured to the last documented date
of approval received from members of the Executive Compensation Committee.
In December 2006, the terms of the options deemed to have been issued at a discount were reformed to reflect the revised stock option exercise prices for all affected Section 16 Officer grants. Of these 5.4 million reformed options, the Company received from the officers the incremental exercise prices for the portion of these options which had previously been exercised totaling $9.6 million. The reformation of these options did not result in incremental compensation cost in the fourth quarter of fiscal 2007. The amounts above do not include $7.5 million in unrecognized stock-based compensation that will be recorded in the second quarter of fiscal 2008 in connection with the cancellation of certain officer grants to Dr. Sehat Sutardja and Weili Dai. This excerpt taken from the MRVL 10-Q filed Jul 2, 2007. Officer Grants:
During the
Relevant Period, we granted options on 13 different dates (including the Re-priced
Officer Grants) to the then-Section 16 Officers — Dr. Sehat Sutardja, Weili Dai, Dr. Pantas
Sutardja and George Hervey. We recorded
additional compensation costs for one grant on December 26, 2003 which
represented 75% of options granted for three of the Officers who were also our
founders (“Founder Officers”) and six grants which represented 96% of options
granted for George Hervey. For
accounting purposes, the grant of 12,640,000 shares to the Founder Officers was
re-measured based on the stock price at the date the Executive Compensation
Committee meeting occurred to approve the grants. Grants to George Hervey totaling 1,279,892
shares of options originally priced at the “as of” dates of the written
consents have been re-measured to the last documented date of approval received
from members of the Executive Compensation Committee.
In December 2006, the terms of the options deemed to have been issued at a discount were reformed to reflect the revised stock option exercise prices for all affected Section 16 Officer grants. Of these 5.4 million reformed options, we received from the Officers the incremental exercise prices for the portion of these options which had previously been exercised totaling $9.6 million. The reformation of these options did not result in incrementel compensation cost in the fourth quarter of fiscal 2007. The amounts above do not include $7.5 million in unrecognized stock-based compensation that will be recorded in the second quarter of fiscal 2008 in connection with the cancellation of certain officer grants to Dr. Sehat Sutardja and Weili Dai. This excerpt taken from the MRVL 10-Q filed Jul 2, 2007. Officer Grants:
During the
Relevant Period, we granted options on 13 different dates (including the Re-Priced
Officer Grants) to the then-Section 16 Officers — Dr. Sehat Sutardja, Weili
Dai, Dr. Pantas Sutardja and George Hervey.
We recorded additional compensation costs for one grant on December 26,
2003 (which represented 75% of options granted) for three of the officers who
were also our founders (“Founder Officers”) and six grants (which represented 96%
of options granted) for George Hervey.
For accounting purposes, the grant of 12,640,000 shares to the Founder
Officers was re-measured based on the stock price at the date the Executive
Compensation Committee meeting occurred to approve the grants. Grants to George Hervey totaling 1,279,892
shares of options originally priced at the “as of” dates of the written
consents have been re-measured to the last documented date of approval received
from members of the Executive Compensation Committee.
In December 2006, the terms of the options deemed to have been issued at a discount were reformed to reflect the revised stock option exercise prices for all affected Section 16 Officer grants. Of these 5.4 million reformed options, we received from the officers the incremental exercise prices for the portion of these options which had previously been exercised totaling $9.6 million. The reformation of these options did not result in incremental compensation cost in the fourth quarter of fiscal 2007. The amounts above do not include $7.5 million in unrecognized stock-based compensation that will be recorded in the second quarter of fiscal 2008 in connection with the cancellation of certain officer grants to Dr. Sehat Sutardja and Weili Dai. This excerpt taken from the MRVL 10-Q filed Jul 2, 2007. Officer Grants:
During the
Relevant Period, we granted options on 13 different dates (including the Re-priced
Officer Grants) to the then-Section 16 Officers — Dr. Sehat Sutardja, Weili
Dai, Dr. Pantas Sutardja and George Hervey.
We recorded additional compensation costs for one grant on December 26,
2003 (which represented 75% of options granted) for three of the Officers who
were also our founders (“Founder Officers”) and six grants (which represented
96% of options granted) for George Hervey.
For accounting purposes, the grant of 12,640,000 shares to the Founder
Officers was re-measured based on the stock price at the date the Executive
Compensation Committee meeting occurred to approve the grants. Grants to George Hervey totaling 1,279,892 shares
of options originally priced at the “as of” dates of the written consents have
been re-measured to the last documented date of approval received from members
of the Executive Compensation Committee.
In December 2006, the terms of the options deemed to have been issued at a discount were reformed to reflect the revised stock option exercise prices for all affected Section 16 Officer grants. Of these 5.4 million reformed options, we received from the Officers the incremental exercise prices for the portion of these options which had previously been exercised totaling $9.6 million. The reformation of these options did not result in incremental compensation cost in the fourth quarter of fiscal 2007. The amounts above do not include $7.5 million in unrecognized stock-based compensation that will be recorded in the second quarter of fiscal 2008 in connection with the cancellation of certain officer grants to Dr. Sehat Sutardja and Weili Dai. | EXCERPTS ON THIS PAGE:
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