Marvell Pays Ex-CEO’s Taxes on Backdated Options He Exercised

  • Payments could reach $15.4 million, company filing shows
  • Sutardja and wife were demoted after options investigation

Marvell Technology Group Ltd. said it will cover as much as $15.4 million of taxes and penalties incurred by former Chairman and Chief Executive Officer Sehat Sutardja when he exercised backdated options in 2006.

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