Chris Koopmans
Marvell TechnologyAbout Chris Koopmans
Chris Koopmans, 48, is Marvell Technology’s Chief Operating Officer (COO) since February 2025; he previously served as Chief Operations Officer from March 2021 to February 2025 and has held multiple senior roles at Marvell since joining in 2016. He holds a B.S. in Computer Engineering from the University of Illinois and was a Ph.D. student in Electrical and Computer Engineering under an NSF Graduate Research Fellowship . Company performance during FY2025 included revenue of $5.77B, record operating cash flow of $1.68B, and sharp AI-driven data center growth; TSR-linked awards earned in prior cycles (FY2022 PSU measured in FY2025) paid out at 106% of target, while FY2025 corporate AIP achievement was 131.2% of target, underscoring pay-for-performance alignment .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Marvell Technology | Chief Operating Officer | Feb 2025–present | Oversees global operations; continuation of execution on AI-driven data center strategy . |
| Marvell Technology | Chief Operations Officer | Mar 2021–Feb 2025 | Led enterprise operations, supply chain, quality, and margin initiatives . |
| Marvell Technology | EVP Marketing & Business Operations | 2019–2021 | Drove corporate transformation, global corporate marketing . |
| Marvell Technology | EVP Business Operations | 2018–2019 | Led transformation strategies and programs . |
| Marvell Technology | Head, Networking & Connectivity BG | 2016–2018 | Managed a key product group through strategic repositioning . |
| Marvell Technology | Head, Global Sales & Marketing | Jun 2016–Dec 2016 | Guided global commercial execution during transition . |
| Citrix Systems | VP & GM, Service Provider Platforms | 2012–2016 | Drove strategy for communications service-provider market post-Bytemobile acquisition . |
| Bytemobile (acquired by Citrix) | Co-founder & COO | Pre-2012 | Built mobile optimization platform; led operations and growth . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| — | — | — | No public-company directorships or committee roles disclosed for Koopmans . |
Fixed Compensation
| Metric | FY2024 | FY2025 |
|---|---|---|
| Base Salary ($) | $585,000 | $600,000 (policy) / $597,404 (paid) |
| AIP Target (% of Salary) | 100% | 100% |
Performance Compensation
Annual Incentive Plan (AIP) – FY2025
- Design: Corporate metrics (80–100% of payout for non-CEO/CFO; COO has 20% individual modifier) with semi-annual targets; weights: Revenue 45%, Non-GAAP Gross Margin 25%, Non-GAAP Operating Income Margin 30% .
- Corporate achievement: 1H payout 115%; 2H payout 148%; full-year corporate factor 131.2% .
- Individual goals: Supply chain excellence, custom products ramp, quality metrics, risk management, branding, and profitability improvements; individual factor for Koopmans: 170% (subject to cap if corporate <100%) .
| Component | Weight | Target(s) | Actual | Payout |
|---|---|---|---|---|
| 1H Revenue ($000s) | 45% | $2,350 target | $2,434 | 136% |
| 1H Non-GAAP Gross Margin (%) | 25% | 62.5% target | 62.1% | 41% |
| 1H Non-GAAP Operating Income Margin (%) | 30% | 23.6% target | 24.7% | 144% |
| 2H Revenue ($000s) | 45% | $3,000 target | $3,334 | 200% |
| 2H Non-GAAP Gross Margin (%) | 25% | 61.2% target | 60.2% | 0% |
| 2H Non-GAAP Operating Income Margin (%) | 30% | 29.6% target | 31.8% | 192% |
| Corporate Factor | — | — | — | 131.2% |
| Individual Factor (COO) | — | — | — | 170% |
| AIP Payout ($) | — | $600,000 target | — | $897,408 |
Equity Awards and Vesting
- Annual RSUs (time-based): 33,450 shares granted Apr 15, 2024; vest quarterly over 3 years .
- Annual TSR RSUs (performance-based): 50,174 target shares granted Apr 15, 2024; payout 0–200% based on relative TSR vs S&P 500 (−33% → 0%; equal → 100%; +33% → 200%); EPS CAGR multiplier up to 150% (overall cap 250%); cliff vest Apr 15, 2027 subject to service .
- Special performance-based stock price awards (May 2023): $80 and $100 tranches achieved in FY2025 at 120% due to >90th percentile TSR; Koopmans earned 74,975 units (50% vest May 15, 2026; 50% vest May 15, 2028), $120 tranche remains .
- FY2022 TSR PSU (granted Apr 15, 2021): Earned at 106% of target; Koopmans earned 21,514 shares, vested Apr 15, 2024 .
| Equity Vehicle | Grant Date | Target Shares | Payout Mechanics | Vesting |
|---|---|---|---|---|
| RSU (time-based) | Apr 15, 2024 | 33,450 | N/A | Quarterly over 3 years . |
| TSR RSU | Apr 15, 2024 | 50,174 | 0–200% TSR vs S&P 500; EPS CAGR multiplier up to 150% (cap 250%) | Cliff vest Apr 15, 2027 . |
| Special PSU (stock price & TSR adjuster) | May 15, 2023 | Tranches at $60/$80/$100/$120 | $80/$100 tranches achieved at 120% in FY2025; earned 74,975 | 50% on May 15, 2026; 50% on May 15, 2028 . |
| TSR PSU (FY2022 cycle) | Apr 15, 2021 | 20,296 target | Earned at 106% (21,514) | Vested Apr 15, 2024 . |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership | 93,931 shares; held via the Christopher R. Koopmans and Heather J. Koopmans Family Trust; less than 1% of outstanding shares . |
| Outstanding unvested awards (selected) | RSUs from Apr 15, 2024: 25,088 unvested; TSR RSUs from Apr 15, 2024: 50,174 unearned; Special performance-based shares achieved: 112,463; remaining special tranche unearned: 31,239 . |
| Ownership guidelines | Executives must hold stock equal to 3× base salary; all executives met or are on track; 50% post-vest retention until guideline met . |
| Hedging/pledging | Prohibited: no margin accounts, pledging, or hedging/derivative monetization; trading only in windows or under 10b5‑1 plans with preclearance . |
Employment Terms
| Provision | Terms |
|---|---|
| Severance agreement | No individual severance agreement disclosed for Koopmans (only CEO has one) . |
| Change-in-Control (CIC) | Tier 2 participant; double-trigger protection from signing of definitive agreement through 24 months post-CIC: lump sum 18 months base salary, 150% of annual target cash incentive, pro‑rata target cash incentive, 100% acceleration of unvested equity (performance awards subject to plan adjustment), 18 months health coverage . |
| Potential CIC payout (illustrative at Jan 31, 2025) | Total $48,031,125, including $900,000 cash severance, $900,000 cash incentive, $600,000 pro‑rata target, $45,577,463 intrinsic value of equity acceleration, $53,662 health benefits . |
| Clawback | Expanded in FY2024 to comply with Nasdaq 5608 and SEC Rule 10D‑1; recoups cash and performance-based equity tied to Financial Reporting Measures (including TSR and stock price) for 3 prior fiscal years upon restatement . |
| Tax gross-ups | No golden parachute excise tax gross‑ups . |
Investment Implications
- Pay-for-performance: COO’s cash incentive tied 80% to corporate revenue/margin metrics and 20% to individual operational goals; FY2025 AIP paid $897,408 on 131.2% corporate and 170% individual factors, aligning rewards with execution on AI data center ramp and profitability .
- Equity-heavy incentives: Annual awards blend time-based RSUs and performance-based TSR/EPS RSUs; non-CEO executives target 60% performance-based equity—promotes long-term alignment and retention; notable stock-price tranches earned at 120% (vesting in 2026/2028) create future vest-driven supply but are double-trigger accelerated only upon CIC .
- Alignment and risk controls: Strong ownership guidelines, anti-hedging/pledging, and robust clawback reduce misalignment and trading-risk signals; beneficial ownership is meaningful but <1% given large share base, consistent with senior operator profiles .
- Governance signal: 2024 say-on-pay support was ~52%, prompting design refinements (e.g., more transparency on metrics, reliance on annual grants vs one-time awards), which should temper pay inflation risk and improve investor confidence in incentive rigor .