Lam Research to cut board to 10 directors in 2026

LAM RESEARCH CORP (LRCX) reported planned Board changes.

Rhea-AI Filing Summary

LAM RESEARCH CORP (LRCX) reported planned Board changes. On August 24, 2026, directors Sohail U. Ahmed and Michael R. Cannon each notified the Board of their decisions to retire from the Board, effective November 2, 2026. Upon their retirement, the size of the Board will decrease from 12 to 10 directors. The company highlights their long tenures and extensive committee service, including audit, compensation and human resources, innovation and technology, and nominating and governance committees.

8-K Event Classification

Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers

1 item

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Key Figures

Effective retirement date: November 2, 2026 Board size before retirements: 12 directors Board size after retirements: 10 directors +4 more

7 metrics

Effective retirement date November 2, 2026 Date when both directors’ retirements and Board size reduction take effect

Board size before retirements 12 directors Size of the Board prior to the effective retirements

Board size after retirements 10 directors Size of the Board effective upon the retirements

Ahmed Board service approximately 7 years Tenure of Sohail U. Ahmed as a director

Cannon Board service approximately 16 years Tenure of Michael R. Cannon as a director

Cannon nominating and governance committee service 15 years Including 7 years as chair of the nominating and governance committee

Ahmed committee service (per committee) 2 years Two years each on audit, compensation and human resources, and innovation and technology committees

Key Terms

nominating and governance committee, compensation and human resources committee, audit committee, innovation and technology committee, +1 more

5 terms

nominating and governance committee financial

"15 years on the nominating and governance committee, including seven years as chair"

A nominating and governance committee is a group of board members tasked with choosing and evaluating directors, planning leadership succession, and setting the company’s board-related rules and ethical standards. Think of it as the company’s hiring and rule-making panel for its top overseers. Its work matters to investors because it shapes who governs the company, how leadership transitions are handled, and whether the board can effectively oversee management and protect shareholder interests.

compensation and human resources committee financial

"two years on the compensation and human resources committee"

audit committee financial

"including two years on the audit committee"

A company's audit committee is a small group of board members who act like independent inspectors for the firm's finances, overseeing how financial reports are prepared, monitoring internal controls, and managing the relationship with external auditors. Investors care because a strong audit committee reduces the risk of accounting errors, fraud, or misleading statements, making financial statements more trustworthy and helping protect shareholder value.

innovation and technology committee financial

"two years on the innovation and technology committee"

Nasdaq Global Select Market market

"LRCX | The Nasdaq Stock Market (Nasdaq Global Select Market)"

A Nasdaq Global Select Market listing is the highest tier of stocks on the Nasdaq exchange, reserved for companies that meet the strictest financial, reporting and governance standards. For investors, it acts like a premium quality label—signaling larger, more transparent and better-governed companies that tend to offer greater liquidity and lower perceived risk compared with lower-tier listings, making it easier to buy, sell and evaluate shares.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What Board changes did LRCX announce on August 24, 2026?

Lam Research announced that directors Sohail U. Ahmed and Michael R. Cannon each decided to retire from the Board, effective November 2, 2026. After their retirement, the Board size will be reduced from 12 to 10 directors.

When will the Lam Research (LRCX) director retirements become effective?

The retirements of Sohail U. Ahmed and Michael R. Cannon from the Lam Research Board will be effective on November 2, 2026. The reduction in Board size from 12 to 10 directors will take effect on the same date.

How long did the retiring Lam Research (LRCX) directors serve on the Board?

Sohail U. Ahmed served on the Lam Research Board for approximately seven years. Michael R. Cannon served for approximately 16 years, reflecting a significantly longer tenure and broad committee involvement.

Which committees did the retiring LRCX directors serve on?

Sohail U. Ahmed served two years each on the audit committee, compensation and human resources committee, and innovation and technology committee. Michael R. Cannon served 12 years on the audit committee, four on compensation and human resources, and 15 on the nominating and governance committee, including seven years as its chair.

Will Lam Research (LRCX) be adding new directors to replace the retiring ones?

The company disclosed that the Board size will be reduced from 12 to 10 directors upon the retirements of Sohail U. Ahmed and Michael R. Cannon. The disclosure does not state any additions to the Board in connection with these retirements.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Understanding 8-K Material Events →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 08/27/2026 - 05:20 PM EDT Accepted by SEC EDGAR 08/27/2026 - 05:20 PM EDT Learn about SEC filing dates

FALSE000070754900007075492026-08-242026-08-24

Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): August 24, 2026

LAM RESEARCH CORPORATION

(Exact name of registrant as specified in its charter)

 

Delaware

000-12933

94-2634797

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification Number)

4650 Cushing Parkway

Fremont, California 94538

(Address of principal executive offices including zip code)

(510) 572-0200

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

			☐						Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
			☐						Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
			☐						Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
			☐						Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol			Name of each exchange on which registered
Common Stock, Par Value $0.001 Per Share			LRCX			The Nasdaq Stock Market
						(Nasdaq Global Select Market)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company     ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

¨

Table of Contents

Table of Contents

 

Item 5.02.						Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers						3
SIGNATURES												4

Table of Contents

Item 5.02.     Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On August 24, 2026, Sohail U. Ahmed and Michael R. Cannon each notified the Board of Directors (the “Board”) of Lam Research Corporation (the “Company”) of their respective decisions to retire from the Board, effective November 2, 2026. The size of the Board will be reduced from 12 to 10 directors effective upon the retirement of Messrs. Ahmed and Cannon.

The Board and the Company’s management express their sincere appreciation to Messrs. Ahmed and Cannon for their dedicated service and many significant contributions to the Company.

Mr. Ahmed served on the Board for approximately seven years, including two years on the audit committee, two years on the compensation and human resources committee, and two years on the innovation and technology committee.

Mr. Cannon served on the Board for approximately 16 years, including 12 years on the audit committee, four years on the compensation and human resources committee, and 15 years on the nominating and governance committee, including seven years as chair of the nominating and governance committee.

On behalf of the entire Company, the Board and the Company’s management would like to thank them for their guidance and support and wish them well in their next endeavors.

Table of Contents

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date:			August 27, 2026						LAM RESEARCH CORPORATION
									(Registrant)
									/s/ Ava A. Harter
									Ava A. Harter
									Senior Vice President, Chief Legal Officer

Filing Exhibits & Attachments

3 documents

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 1.8 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 21.4 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 12.2 KB