We present a C-band Mach-Zehnder modulator with meandered phase shifters and a compact footprint of 432 × 260 μm2 on the silicon-on-insulator platform. Electrode, p-n junction, and optical transit time are considered when performing the electro-optic bandwidth (EO BW) simulations. The simulation results prove that the dominant bandwidth limiting factor for this type of modulator is optical transit time. The insertion loss of the modulator without bias is 2.1 dB. The measured half-wave voltage (V π ) and 3-dB EO BW at -0.5 V bias are 6.4 V and 7.7 GHz, respectively. 53 Gbaud PAM-4 transmission over 2 km of standard single-mode fiber is achieved at a bit error rate (BER) below the 6.7% overhead hard-decision forward error correction BER threshold of 3.8×10 -3.