Richard P. Wallace, President and CEO of KLA (KLAC), reported routine vesting of restricted stock units (RSUs) tied to prior grants. RSUs granted on 08/03/2023 (15,684 RSUs) and 08/04/2022 (16,097 RSUs) vested 25% on 08/03/2025 and 08/04/2025 respectively. Under the grant terms, shares were automatically withheld at vesting to satisfy tax obligations using the closing price on 08/01/2025 of $886.64; the withholding amounts reported are 1,944.032 shares and 1,995.1 shares.
Following the transactions the filing reports beneficial ownership totals of 70,623.003 shares (which includes 47,666.511 shares issuable upon vesting) and 68,627.903 shares (which includes 43,642.511 shares issuable upon vesting). The entries reflect compensation vesting and tax-withholding dispositions rather than open-market purchases or sales.
What happened: KLA's EVP & Chief Financial Officer, Bren D. Higgins, had restricted stock units (RSUs) vest on August 3 and August 4, 2025 from grants made in 2023 and 2022. Each vesting event represented 25% of the original grants and the company automatically withheld shares at vesting to cover required tax withholding.
Why it matters: This is a compensation-related event that increases the number of vested shares while reducing the number of shares delivered because some were withheld for taxes. The filing shows the fair market value used for withholding was the closing price on August 1, 2025 ($886.64), and reports beneficial ownership figures of 23,920.749 and 23,182.006 shares following the respective vestings.