Form 4 Marvel Entertainment, For: Apr 30 Filed by: ISAAC PERLMUTTER TRUST 01/28/1993 (10K)

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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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^*

PERLMUTTER ISAAC

(Last)

(First)

(Middle)

MARVEL CHARACTERS B.V., 2240 PALM BEACH LAKES BLVD., SUITE 101

(Street)

WEST PALM BEACH

33409

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Marvel Entertainment, Inc. [MVL]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
See Exhibit 99.1 attached

3. Date of Earliest Transaction (Month/Day/Year)
04/30/2009

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	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)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/30/2009		M		166,667	A	$ 25	373,022	D
Common Stock	04/30/2009		M		166,666	A	$ 30	539,688	D
Common Stock	04/30/2009		F		312,184	D	$ 31.03	227,504	D
Common Stock	04/30/2009		J⁽¹⁾		21,149	D	$ 0	206,355	D
Common Stock	04/30/2009		J⁽¹⁾		21,149	A	$ 0	28,681,430	I ⁽²⁾	Held by or through Mr. Permlutter's trust ⁽²⁾

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 Underlying Securities
(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 of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Option (right to buy) ⁽³⁾

$ 25

04/30/2009

166,667

05/04/2004

05/04/2009

Common Stock

166,667

$ 0 ⁽³⁾

0 ⁽²⁾

Stock Option (right to buy) ⁽³⁾

$ 30

04/30/2009

166,666

05/04/2004

05/04/2009

Common Stock

166,666

$ 0 ⁽³⁾

0 ⁽²⁾

1. Name and Address of Reporting Person^*

PERLMUTTER ISAAC

(Last)

(First)

(Middle)

MARVEL CHARACTERS B.V., 2240 PALM BEACH LAKES BLVD., SUITE 101

(Street)

WEST PALM BEACH

33409

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

ISAAC PERLMUTTER TRUST 01/28/1993

(Last)

(First)

(Middle)

P.O. BOX 1028

(Street)

LAKE WORTH

33460

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

OBJECT TRADING CORP

(Last)

(First)

(Middle)

P.O. BOX 1028

(Street)

LAKE WORTH

33460

(City)

(State)

(Zip)

Explanation of Responses:

1. On April 30, 2009, Mr. Perlmutter did a "net exercise" of 333,333 stock options (each with an expiration date of May 4, 2009). In that "net exercise," Mr. Perlmutter acquired 21,149 shares of common stock. The number of shares acquired was net of the 312,184 shares that Marvel withheld for the payment of the options' exercise price and taxes incident to the exercise. Upon acquisition, the 21,149 shares were immediately transferred by Mr. Perlmutter in a private transaction to the Isaac Perlmutter Trust 01/28/1993, a Florida revocable trust (the "Perlmutter Trust"). The transfer was made by Mr. Perlmutter for estate planning purposes and has no effect on his beneficial ownership of Common Stock. Mr. Perlmutter is the sole beneficiary and a trustee of the Perlmutter Trust.

2. Mr. Perlmutter directly or indirectly owns, or holds options to purchase, 30,152,139 shares of Marvel's common stock. These shares include: (i) 28,887,785 shares held directly or indirectly by Mr. Perlmutter; (ii) 514,354 shares subject to the option described in Table II of the Form 4 filed by Mr. Perlmutter on March 4, 2009; and (iii) 750,000 shares subject to the option described in Table II of the Form 4 filed by Mr. Perlmutter on March 23, 2009. The figures above exclude 166,667 shares subject to an option held by Mr. Perlmutter that expires on May 4, 2009, whose exercise price is $35 per share. See Exhibit 99.2 for details regarding the Reporting Persons' ownership of Common Stock.

3. Grant pursuant to Marvel's 1998 Stock Incentive Plan.

	/s/ Benjamin Dean, attorney-in-fact for Isaac Perlmutter, the Isaac Perlmutter Trust 01/28/1993 and Object Trading Corp.	04/30/2009
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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the following: 

Directors, its Chief Executive Officer and a 10% beneficial owner of the Issuer; 

“Trust”), a 10% beneficial owner of the Issuer. Mr. Perlmutter is a Trustee and the sole beneficiary 
of the Trust; and 

10% beneficial owner of the Issuer. The Trust is the sole stockholder of Object.




stock of Marvel Entertainment, Inc. (“Common Stock”) directly and, as described below, he may be deemed to 
own an additional 28,681,430 shares of Common Stock indirectly. Mr. Perlmutter holds not-yet-exercisable options 
to acquire an additional 1,264,354 shares of Common Stock. 

owns 206,355 currently outstanding shares of Common Stock. He also directly holds the following options, to purchase an 
aggregate of 1,264,354 shares of Common Stock: 


Common Stock at $25.86 per share. One-third of these options are scheduled to become exercisable on each of 



Common Stock at $23.15 per share. One-third of these options are scheduled to become exercisable on each of 



Mr. Perlmutter that expires on May 4, 2009, whose exercise price is $35 per share. 

Mr. Perlmutter may be deemed to beneficially own 28,681,430 shares of Common Stock owned directly or indirectly by 
the Isaac Perlmutter Trust 01/28/1993, a Florida revocable trust (the “Perlmutter Trust”). The Perlmutter 
Trust is the sole stockholder of Object Trading Corp. and Zib, Inc. Object Trading Corp. and Zib, Inc. are Florida 
corporations. 

owns 10,364,105 shares of Common Stock. 

Trust may be deemed to beneficially own an additional 14,622,680 and 3,694,645 shares of Common Stock owned directly by 
Object Trading Corp. and Zib, Inc. respectively.

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