Form: 4

Statement of changes in beneficial ownership of securities

March 12, 2004

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP


Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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X
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
BANATAO DIOSDADO P

(Last) (First) (Middle)
700 FIRST AVENUE

(Street)
SUNNYVALE CA 94089

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
MARVELL TECHNOLOGY GROUP LTD [ MRVL ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
03/10/2004
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 1,375,000 D
Common Stock 03/10/2004 C 347,950 D $43.845(1) 332,730 I By Tallwood Partners LLC
Common Stock 03/10/2004 C 217,425 D $43.845(2) 1,400,322 I By Diosdado & Maria C. Banatao Trust
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Put Option (Right to Sell) $43.845 03/10/2004 C 1 03/10/2004 03/05/2004 Common Stock 347,950 (1) 0 I By Tallwood Partners LLC
Put Option (Right to Sell) $43.845 03/10/2004 C 1 03/10/2004 03/05/2004 Common Stock 217,425 (2) 0 I By Diosdado & Maria C. Banatao Trust
Put Option (Right to Sell) (3)(4) (3)(4) 03/12/2004 Common Stock 150,000 1 I By Diosdado & Maria C. Banatao Trust
Put Option (Right to Sell) (3)(4) (3)(4) 03/12/2004 Common Stock 100,000 1 I By Diosdado & Maria C. Banatao Trust
Put Option (Right to Sell) (3)(4) (3)(4) 06/28/2005 Common Stock 300,000 1 I By Diosdado & Maria C. Banatao Trust
Put Option (Right to Sell) (3)(4) (3)(4) 09/09/2005 Common Stock 100,000 1 I By Diosado & Maria C. Banatao Trust
Put Option (Right to Sell) (3)(4) (3)(4) 09/23/2005 Common Stock 100,000 1 I By Diosdado & Maria C. Banatao Trust
Put Option (Right to Sell) (3)(4) (3)(4) 06/30/2006 Common Stock 280,000 1 I By Diosdado & Maria C. Banatao Trust
Put Option (Right to Sell) (3)(4) (3)(4) 10/13/2006 Common Stock 150,000 1 I By Diosdado & Maria C. Banatao Trust
Put Option (Right to Sell) (3)(4) (3)(4) 01/19/2007 Common Stock 134,900 1 I By Diosdado & Maria C. Banatao Trust
Explanation of Responses:
1. Reporting settlement of pre-paid forward contract (Right to Sell) held by Tallwood Partners, LLC for 500,000 shares entered into on November 30, 2001. In accordance with the terms of the contract, Tallwood Partners is to deliver a certain number of shares upon settlement of the contract depending on the closing price of the Issuer's common stock on the expiration date of the contract. The contract settled on March 10, 2004 whereby 347,950 shares of the 500,000 pledged shares were transferred in accorance with the terms of the contract.
2. Reporting settlement of pre-paid forward contract (Right to Sell) held by the Diosdado and Maria C. Banatao Trust (the "Trust") for 250,000 shares entered into on March 7, 2002. In accordance with the terms of the contract, the Trust is to deliver a certain number of shares upon settlement of the contract depending on the closing price of the Issuer's common stock on the expiration date of the contract.. The contract settled on March 10, 2004 whereby 217,426 shares of the 250,000 pledged shares were transferred in accordance with the terms of the contract.
3. The Reporting Person also has indirect ownership of eight prepaid forward contracts (Right to Sell) held by the Trust.. The contracts provide that the Trust will deliver a certain number of shares at the end of the contract depending on the Issuer's common stock price on such date. 1) a contract for 150,000 shares was entered into on 03/12/02 with a settlement date on 03/12/04; 2) a contract for 100,000 shares was entered into on 04/01/02 with a settlement date on 03/12/04; 3) a contract for 300,000 shares was entered into on 06/28/02 with a settelement date on 06/28/05; 4) a contract for 100,000 shares was entered into on 09/10/02 with a settlement date on 09/09/05; 5) a contract for 100,000 shares was entered into on 09/23/02 with a settlement date on 09/23/05; 6) a contract for 280,000 shares was entered into on 07/02/03 with a settlement date on 06/30/06;
4. Continuation of Footnote No. 2: 7) a contract for 150,000 shares was entered into on 10/14/03 with a settlement date on 10/13/06; a contrct for 134,900 shares was entered into on 01/20/04 with a settlement date on 01/19/07. Exact pricing terms for each contract are determined on the respective settlement dates in accordance with the applicable contract.
Remarks:
Diosdado Banatao 03/12/2004
** Signature of Reporting Person Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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