UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 8, 2016

 

 

MARVELL TECHNOLOGY GROUP LTD.

(Exact name of registrant as specified in its charter)

 

 

 

Bermuda   0-30877   77-0481679

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

Canon’s Court

22 Victoria Street

Hamilton HM 12

Bermuda

(Address of principal executive offices)

(441) 296-6395

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report.)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Effective August 8, 2016, the Executive Compensation Committee of the Board of Directors of Marvell Technology Group Ltd. (“Company”) approved changes to the compensation of Dr. Zining Wu, the Company’s Chief Technology Officer, as follows: (i) increased Dr. Wu’s target bonus as a percentage of his annual salary from 50% to 75%; and (ii) designated Dr. Wu a “Tier 3” participant in the Company’s Change in Control Severance Plan. In addition, Dr. Wu’s annual base salary was increased to $450,000. The material terms of the Company’s Change in Control Severance Plan are set forth in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on June 20, 2016 and are incorporated by reference herein.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: August 12, 2016

 

MARVELL TECHNOLOGY GROUP LTD.
By:  

/s/ Mitchell Gaynor

 

Mitchell Gaynor

 

Executive Vice President, Chief Legal Officer and Secretary

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