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This excerpt taken from the MRVL 10-Q filed Dec 11, 2008. 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 $6.96 as reported on the NASDAQ Stock Market on October 31, 2008, the total pretax intrinsic value of all outstanding restricted stock was $0.5 million.
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