Matthew J. Murphy
Also at Marvell Technology Inc
About
Matthew J. Murphy is a seasoned executive known for his strong leadership in the semiconductor industry. At 51 years old as of 2024, his personal background is marked by a robust educational foundation that has helped shape his strategic vision.
Over a career spanning decades, he built extensive experience at Maxim Integrated Products, Inc. where he demonstrated consistent growth by holding multiple leadership roles that contributed to significant business expansion.
In July 2016, he joined MRVL as President and CEO, leveraging his longstanding industry expertise to drive transformational change and innovation at the firm. His subsequent promotion to Chairman in June 2023 further underscores his vital role in steering MRVL's growth strategy and operational excellence.
Beyond his executive responsibilities, his career reflects a commitment to innovation and leadership, making him a prominent figure in advancing the company’s market position and technological advancements.
$MRVL Performance Under Matthew J. Murphy
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Maxim Integrated Products, Inc. | Executive Vice President, Business Units, Sales and Marketing | 2015–2016 | Had company-wide profit and loss responsibility, leading product development, sales & field applications, marketing, and central engineering. |
| Maxim Integrated Products, Inc. | Senior Vice President of the Communications and Automotive Solutions Group | 2011–2015 | Led the team that developed differentiated solutions for the communications and automotive markets. |
| Maxim Integrated Products, Inc. | Vice President, Worldwide Sales & Marketing | 2006–2011 | During this period, Maxim's sales expanded significantly. |
| Maxim Integrated Products, Inc. | Other Leadership Roles | Pre-2006 | Held various roles including business unit management, customer operations, and led communications, data center, and automotive business groups. |
| eBay Inc. | Board of Directors | Not specified | Served on the board. |
External Roles
| Organization | Role | Date Range |
|---|---|---|
| Cirrus Logic, Inc. | Board of Directors | Present |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Base Salary | $1,150,000 | Annual (FY 2024) | Fixed base compensation |
| 401(k) Plan Matching Contributions | $5,000 | Annual (FY 2024) | Matching contribution per plan terms |
| Life Insurance Premiums | $780 | Annual (FY 2024) | Premium cost for life insurance coverage |
Performance Compensation
Annual Cash Incentive (AIP)
| Metric | Weighting | Target Incentive ($) | Actual Payout ($) | Performance / Threshold | Payout Range / Cap |
|---|---|---|---|---|---|
| Revenue | 45% | N/A | N/A | Must exceed threshold; if not, no payout | 0% to 200% |
| Non-GAAP Gross Margin | 25% | N/A | N/A | ||
| Non-GAAP Operating Income Margin | 30% | N/A | N/A | ||
| Aggregate | N/A | $2,300,000 | $2,226,400 | 96.8% achievement ; below threshold, payout capped at target |
Notes: The AIP is a cash-based incentive with no vesting requirements.
Performance-Based Equity Grants
| Component | Grant Date | Grant Date Stock Price | Grant Date Fair Value ($) | Target Shares | Maximum Shares | Vesting Schedule | TSR Adjustment |
|---|---|---|---|---|---|---|---|
| Equity Grants | May 15, 2023 | Slightly below $40.00 | $21,833,196 | 784,943 RSUs | 1,714,613 RSUs | 50% vest on the later of the 3-year anniversary OR the month following the performance achievement; remaining 50% vest on the 5-year anniversary | +20% / No Adjustment / -20% |
Special Performance-Based Equity Grant
| Component | Grant Date | Grant Date Stock Price | Included Fair Value | Target Shares | Maximum Shares | Vesting Schedule | TSR Adjustment |
|---|---|---|---|---|---|---|---|
| Special Equity Grant | April 15, 2023 | Slightly below $40.00 | Part of total value of $21,833,196 | 784,943 RSUs | Up to 250% of target shares | 50% vest at 3 years and 50% vest at 5 years | +20% / 0% / -20% |
Severance Agreement Performance-Based Equity Acceleration
| Component | Grant Date | Grant Date Stock Price | Grant Date Fair Value ($) | Target Shares | Maximum Shares | Vesting Schedule | Performance Period |
|---|---|---|---|---|---|---|---|
| Severance Equity Acceleration | April 15, 2023 | Slightly below $40.00 | $21,833,196 | 784,943 shares | Up to 250% of target shares (with TSR cap at 200%) | 3-year cliff vesting; 50% additional vest after 5 years; accelerated vesting if terminated without cause or resigned for good reason (subject to pro rata acceleration based on days served) | April 15, 2024 – April 5, 2027 |
This section summarizes all performance-based components for fiscal 2024, including cash incentive and share-based awards. Each component is tied to specific performance metrics, thresholds, and vesting conditions to align with corporate goals and long-term shareholder value.