Marvell Technology Group (MRVL)

Stock award activity

The Company has issued restricted stock and restricted stock unit awards to its employees under the Option Plan.  Such awards generally vest over a period of one to five years from the date of grant. The restricted stock awards have the voting rights of common shares and the shares underlying the restricted stock are considered issued and outstanding.  The Company expenses the cost of the restricted stock awards, which is determined to be the fair market value of the shares at the date of grant, ratably over the period during which the restrictions lapse.  The grant of restricted stock awards is deducted from the shares available for grant under the Option Plan.

Based on the closing price of the Company’s stock of $14.69 as reported on the NASDAQ Stock Market on August 1, 2008, the total pretax intrinsic value of all outstanding restricted stock was $1.1 million.

Stock Award Activity

The Company has issued restricted stock awards to its employees under the Option Plan.  Such awards generally vest over a period of five years from the date of grant. The restricted stock awards have the voting rights of common shares and the shares underlying the restricted stock are considered issued and outstanding.  The Company expenses the cost of the restricted stock awards, which is determined to be the fair market value of the shares at the date of grant, ratably over the period during which the restrictions lapse. 

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Stock Award Activity

The Company has granted 140,000 restricted stock awards to its employees under the 1995 Stock Option Plan. Such awards generally vest over a period of five years from the date of grant. The restricted stock awards have the voting rights of common stock and the shares underlying the restricted are considered issued and outstanding.  The Company expenses the cost of the restricted stock awards, which is determined to be the fair market value of the shares at the date of grant, ratably over the period during which the restrictions lapse.  The grant of restricted stock awards is deducted from the shares available for grant under the Company’s stock option plan.  Restricted stock activity under the Company’s stock option plans for the nine months ended October 27, 2007 is summarized below (in thousands, except per share amounts):

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Stock Award Activity

In the first quarter of fiscal 2007, the Company granted 140,000 restricted stock awards to its employees under the 1995 Stock Option Plan. Such awards generally vest over a period of five years from the date of grant. The restricted stock awards have the voting rights of common stock and the shares underlying the restricted are considered issued and outstanding.  The Company expenses the cost of the restricted stock awards, which is determined to be the fair market value of the shares at the date of grant, ratably over the period during which the restrictions lapse.  The grant of restricted stock awards is deducted from the shares available for grant under the Company’s stock option plan.  Restricted stock activity under the Company’s stock option plans for the three months ended July 28, 2007 is summarized below (in thousands, except per share amounts):

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A total of 39,332 restricted stock awards vested during the three and six months ended July 28, 2007.  Based on the closing price of the Company’s stock of $18.58, on July 27, 2007, the total pretax intrinsic value of all outstanding restricted stock was $1.9 million.

Stock Award Activity

In the first quarter of fiscal 2007, the Company granted 140,000 restricted stock awards to its employees under the 1995 Stock Option Plan. Such awards generally vest over a period of five years from the date of grant. The restricted stock awards have the voting rights of common stock and the shares underlying the restricted are considered issued and outstanding.  The Company expenses the cost of the restricted stock awards, which is determined to be the fair market value of the shares at the date of grant, ratably over the period during which the restrictions lapse.  The grant of restricted stock awards is deducted from the shares available for grant under the Company’s stock option plan.  Restricted stock activity under the Company’s stock option plans for the three months ended April 28, 2007 is summarized below (in thousands, except per share amounts):

No restricted stock awards vested during the three months ended April 28, 2007.  Based on the closing price of the Company’s stock of $16.28, on April 27, 2007, the total pretax intrinsic value of all outstanding restricted stock was $2.3 million.

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