LAM RESEARCH CORPORATION (NASDAQ:LRCX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 9.01.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 9.01.
Financial Statements and Exhibits
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Item 9.01. |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
(e) Compensatory Arrangements of Certain Officers
On November 30, 2018, Lam Research Corporation (the “Company”) entered into an amendment to the employment agreement of Douglas R. Bettinger, the Company’s Executive Vice President and Chief Financial Officer, which employment agreement was entered into effective January 1, 2018.
The amendment to the employment agreement (the material terms of which are set forth in the Company’s Current Report dated January 2, 2018) reflects Mr. Bettinger’s calendar year 2019 compensation ($640,000 base salary, annual incentive program target award opportunity of 50% of base salary and long-term incentive program target award opportunity of $3,000,000) and a one-time restricted stock unit (RSU) award of $8,000,000 granted on November 30, 2018 that will vest over four years (25% of the RSUs on the one-year anniversary of the grant date and the remainder of the RSUs on a pro-rated basis on the last day of every month thereafter for the next 36 months).
The foregoing description is qualified in its entirety by reference to the full text of the amendment to the employment agreement, which is filed as Exhibit 10.1 to this Form 8-K and incorporated by reference in this Item 9.01(e).
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Item 9.01. |
Financial Statements and Exhibits |
(d) Exhibits
LAM RESEARCH CORP ExhibitEX-10.1 2 ex101amdmttocfoempagreement.htm EX 10.1 AMDMT TO CFO EMP AGRMT Exhibit Exhibit 10.1AMENDMENT TO EMPLOYMENT AGREEMENTThis AMENDMENT TO EMPLOYMENT AGREEMENT (this “Amendment”) is entered into effective November 30,…To view the full exhibit click here
About LAM RESEARCH CORPORATION (NASDAQ:LRCX)
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment. Its products are designed to enable its customers build a range of devices that are used in a range of electronic products, including cell phones, tablets, computers, storage devices, and networking equipment. Its customer base includes semiconductor memory, foundry, and integrated device manufacturers (IDMs) that make products, such as dynamic random-access memory (DRAM), negative-AND (NAND) memory and logic devices. It offers a portfolio of products that are used in several areas of the semiconductor manufacturing process flow, including thin film deposition, plasma etch and single-wafer clean.
