LAM Research SVP sells 18,170 shares at $255.14

LAM Research Senior Vice President Neil J. Fernandes reported an open-market sale of 18,170 shares of LAM Research common stock at $255.14 per share.

Rhea-AI Filing Summary

LAM Research Senior Vice President Neil J. Fernandes reported an open-market sale of 18,170 shares of LAM Research common stock at $255.14 per share. The transaction is coded as an open-market sale and was carried out under a Rule 10b5-1 trading plan adopted on November 17, 2025.

Following this sale, Fernandes directly holds 66,129 shares of LAM Research common stock. He also has an indirect holding of 1,015.399 shares through a 401(k) plan, and this amount includes shares subject to unvested restricted stock units.

Insights

Equity ownership analyst

Planned insider sale under 10b5-1, with sizable remaining stake.

Senior Vice President Neil J. Fernandes executed an open-market sale of 18,170 LAM Research shares at $255.14 each, under a pre-established Rule 10b5-1 trading plan adopted on November 17, 2025. Such plans typically automate trades to reduce timing concerns.

After the sale, Fernandes still directly owns 66,129 shares and indirectly holds 1,015.399 shares via a 401(k), including unvested restricted stock units. The filing shows no remaining derivative positions, suggesting this event is a straightforward share sale rather than part of an option exercise sequence.

Insider Trade Summary 10b5-1

Net Seller: 18,170 shares

Net Sell 2 txns

Insider Fernandes Neil J

Role Senior Vice President

Sold 18,170 shs ($4.64M)

Type	Security	Shares	Price	Value
Sale	Common Stock	18,170	$255.14	$4.64M
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 66,129 shares (Direct); Common Stock — 1,015.399 shares (Indirect, By 401(k))

Footnotes (2)

1. F1. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 17, 2025.
2. F2. The amount reported includes shares subject to unvested restricted stock units.

Key Figures

Shares sold: 18,170 shares Sale price: $255.14 per share Direct holdings after sale: 66,129 shares +2 more

5 metrics

Shares sold 18,170 shares Open-market sale of common stock on May 1, 2026

Sale price $255.14 per share Price for the 18,170 shares sold

Direct holdings after sale 66,129 shares Common stock directly owned after the transaction

Indirect 401(k) holdings 1,015.399 shares Indirect ownership via 401(k), includes unvested RSUs

Trading plan adoption date November 17, 2025 Date Rule 10b5-1 trading plan was adopted

Key Terms

Rule 10b5-1 trading plan, restricted stock units, open-market sale, indirect ownership

4 terms

Rule 10b5-1 trading plan regulatory

"This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 17, 2025."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

restricted stock units financial

"The amount reported includes shares subject to unvested restricted stock units."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

open-market sale financial

"transaction_action: open-market sale"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

indirect ownership financial

"Indirect holding of 1,015.399 shares through a 401(k) plan"

FAQ

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

What insider transaction did LAM Research (LRCX) report for Neil J. Fernandes?

LAM Research reported that Senior Vice President Neil J. Fernandes sold 18,170 shares of common stock in an open-market transaction at $255.14 per share. The filing also shows he continues to hold a substantial direct and indirect ownership position after the sale.

Was the LAM Research (LRCX) insider sale by Neil J. Fernandes pre-planned?

Yes. The filing states the transaction was executed under a Rule 10b5-1 trading plan adopted by Neil J. Fernandes on November 17, 2025. Such plans pre-schedule trades, indicating the sale’s timing was determined in advance rather than decided opportunistically.

How many LAM Research (LRCX) shares does Neil J. Fernandes own after this Form 4 sale?

After the reported sale, Neil J. Fernandes directly holds 66,129 shares of LAM Research common stock. He also indirectly owns 1,015.399 shares through a 401(k) plan, and this indirect amount includes shares subject to unvested restricted stock units.

What price did Neil J. Fernandes receive per LAM Research (LRCX) share in the reported sale?

The Form 4 shows Neil J. Fernandes sold 18,170 shares of LAM Research common stock at $255.14 per share. This per-share sale price comes directly from the transaction details listed in the non-derivative holdings table of the filing.

Does the LAM Research (LRCX) Form 4 show any option exercises or derivative transactions?

No. The derivative section of the Form 4 does not list any option exercises or other derivative transactions. The transaction summary shows only a net sale of 18,170 common shares and one holding entry, indicating the reported activity is a straightforward stock sale.

How is Neil J. Fernandes’ indirect ownership in LAM Research (LRCX) held?

The filing reports 1,015.399 LAM Research shares held indirectly by Neil J. Fernandes through a 401(k) plan. A footnote clarifies that this total includes shares subject to unvested restricted stock units, which are equity awards that vest over time.

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

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Accepted by SEC EDGAR 05/04/2026 - 01:24 PM EDT Learn about SEC filing dates

SEC Form 4

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
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Fernandes Neil J

(Last) (First) (Middle)

4650 CUSHING PKWY

(Street)

FREMONT CALIFORNIA 94538

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
LAM RESEARCH CORP [ LRCX ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Senior Vice President

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/01/2026

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

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/01/2026		S		18,170(1)	D	$255.14	66,129(2)	D
Common Stock								1,015.399	I	By 401(k)

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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 17, 2025.

2. The amount reported includes shares subject to unvested restricted stock units.

Remarks:

	Marta Woods by Power of Attorney	05/04/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)