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This excerpt taken from the MRVL 10-K filed Jul 2, 2007. Restatement
Related Impacts: The
additional payable for payroll taxes associated with affected stock option
grants of approximately $10.6 million on a calendar year basis, additional Section 409A
expenses for the adverse tax consequences of the re-measured options exercised
during calendar year 2006 of approximately $24.2 million including
penalties and interest, and Section 162(m) liabilities of $26.5
million
82 for cumulative period from fiscal 2001 through 2007, represents potential future cash outflow totaling $61.3 million. The IRS has provided taxpayers with the following two ways of correcting unexercised discounted stock options: (1) setting a fixed exercise date; and (2) increasing the exercise price of the option up to the fair market price on the date of grant. We are actively evaluating these options. The discount associated with unexercised stock options outstanding as of January 27, 2007 amounted to approximately $51.7 million. We have not determined the tax consequences associated with these potential future remedies. This excerpt taken from the MRVL 10-Q filed Jul 2, 2007. Restatement Related Impacts: The additional payable for
payroll taxes associated with affected stock option grants of approximately
$10.6 million, additional Section 409A expenses for the adverse tax
consequences of the re-measured options exercised during calendar year 2006 of
approximately $24.2 million, and Section 162(m) liabilities of $26.5 million
for potential cumulative period from fiscal 2001 through 2007, represents
future cash outflow totaling $61.3 million.
The IRS has provided taxpayers with the following two ways of correcting unexercised discounted stock options: (1) setting a fixed exercise date; and (2) increasing the exercise price of the option up to the fair market price on the date of grant. We are actively evaluating these options. The discount associated with unexercised stock options outstanding as of January 27, 2007 amounted to approximately $51.7 million. We have not determined the tax consequences associated with these potential future remedies. This excerpt taken from the MRVL 10-Q filed Jul 2, 2007. Restatement related Impacts: The additional payable for
payroll taxes associated with affected stock option grants of approximately
$10.6 million, additional Section 409A expenses for the adverse tax
consequences of the re-measured options exercised during calendar year 2006 of
approximately $24.2 million, and Section 162(m) liabilities of $26.5 million
for cumulative period from fiscal 2001 through 2007, represents potential
future cash outflow totaling $61.3 million.
The IRS has provided taxpayers with the following two ways of correcting unexercised discounted stock options: 1) setting a fixed exercise date; and 2) increasing the exercise price of the option up to the fair market price on the date of grant. We are actively evaluating these options. The discount associated with unexercised stock options outstanding as of January 27, 2007 amounted to approximately $51.7 million. We have not determined the tax consequences associated with these potential future remedies. This excerpt taken from the MRVL 10-Q filed Jul 2, 2007. Restatement Related Impacts: The additional payable for
payroll taxes associated with affected stock option grants of approximately
$10.6 million, additional Section 409A expenses for the adverse tax
consequences of the re-measured options exercised during calendar year 2006 of
approximately $24.2 million, and Section 162(m) liabilities of $26.5 million
for potential cumulative period from fiscal 2001 through 2007, represents
future cash outflow totaling $61.3 million.
The IRS has provided taxpayers with the following two ways of correcting unexercised discounted stock options: (1) setting a fixed exercise date; and (2) increasing the exercise price of the option up to the fair market price on the date of grant. We are actively evaluating these options. The discount associated with unexercised stock options outstanding as of January 27, 2007 amounted to approximately $51.7 million. We have not determined the tax consequences associated with these potential future remedies. | EXCERPTS ON THIS PAGE:
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