Lam Research SVP gets 21,570 shares from performance award

Lam Research senior vice president Neil J. Fernandes reported an equity award vesting that increased his direct shareholdings.

Rhea-AI Filing Summary

Lam Research senior vice president Neil J. Fernandes reported an equity award vesting that increased his direct shareholdings. On February 3, 2026, 14,380 market-based performance restricted stock units, originally granted on March 1, 2023, were settled, resulting in the acquisition of 21,570 shares of common stock at $0 per share under transaction code M. After this transaction, he held 92,768 Lam Research common shares directly and 1,015.399 shares indirectly through a 401(k). The award’s vesting level is tied to Lam Research total shareholder return versus the PHLX Semiconductor total return index over the period from February 1, 2023 through January 31, 2026.

Insider Trade Summary

14,380 shares exercised/converted

Exercise 3 txns

Insider Fernandes Neil J

Role Senior Vice President

Type	Security	Shares	Price	Value
Exercise	Market-based Performance Restricted Stock Unit	14,380	$0.00	$0.00
Exercise	Common Stock	21,570	$0.00	$0.00
holding	Common Stock	--	--	--

Holdings After Transaction: Market-based Performance Restricted Stock Unit — 0 contracts (Direct); Common Stock — 92,768 shares (Direct); Common Stock — 1,015.399 shares (Indirect, By 401(k))

Footnotes (3)

1. F1. On 03/01/2023, the Reporting Person received a grant of 14,380 Market-based Performance Restricted Stock Units vesting between 0% and 150% on 03/01/2026. The vesting of this award is based on the total return stock price performance of Lam Research shares (assuming reinvestment of dividends) relative to the market price performance of the PHLX Semiconductor Sector Total Return Index, comparing the 50-trading day trailing average closing price over the performance period from 02/01/2023 through 01/31/2026.
2. F2. The amount reported includes shares subject to unvested restricted stock units.
3. F3. The Market-based performance restricted stock units will vest between 0% and 150% on 03/01/2026. The performance of this award is based on the Lam Research Total Shareholder Return performance.relative to the PHLX Semiconductor Total Return Index Total Shareholder Return during the performance period of 02/01/2023 through 01/31/2026.

FAQ

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

What insider transaction did Neil J. Fernandes report at Lam Research (LRCX)?

Neil J. Fernandes reported the vesting and conversion of market-based performance restricted stock units into 21,570 Lam Research common shares at $0 per share. The Form 4 shows this as a transaction coded M, reflecting an equity award settlement rather than an open-market purchase or sale.

How many Lam Research shares does Neil J. Fernandes own after this Form 4?

After the reported transaction, Neil J. Fernandes beneficially owns 92,768 Lam Research common shares directly. He also holds 1,015.399 additional shares indirectly through a 401(k) plan, according to the filing, reflecting both his direct equity stake and retirement-plan holdings tied to Lam Research stock.

What equity award vested for Neil J. Fernandes in the Lam Research Form 4?

The filing shows vesting of 14,380 market-based performance restricted stock units originally granted on March 1, 2023. These units converted into 21,570 common shares, with the ultimate vesting level based on Lam Research’s total shareholder return versus the PHLX Semiconductor total return index over a defined performance period.

How is Neil J. Fernandes’ Lam Research performance award measured?

The performance award is based on Lam Research total shareholder return compared to the PHLX Semiconductor sector total return index. It uses a 50‑trading‑day trailing average closing price over a performance period from February 1, 2023 through January 31, 2026 to determine the final vesting percentage between 0% and 150%.

Did Neil J. Fernandes sell any Lam Research shares in this Form 4?

The Form 4 does not show any sale of Lam Research shares. Instead, it reports a transaction coded M, where performance-based restricted stock units were converted into 21,570 common shares at $0 per share, increasing his reported direct beneficial ownership of Lam Research stock.

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

Form 4 Insider Transactions: What Each Field Means →

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

Add on Google Not now

Accepted by SEC EDGAR 02/05/2026 - 11:33 AM 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).

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 CA 94538

(City) (State) (Zip)

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

3. Date of Earliest Transaction (Month/Day/Year)
02/03/2026

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

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

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

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	02/03/2026		M		21,570(1)	A	$0	92,768(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
Market-based Performance Restricted Stock Unit	$0	02/03/2026		M			14,380	(3)	(3)	Common Stock	14,380	$0	0	D

Explanation of Responses:

1. On 03/01/2023, the Reporting Person received a grant of 14,380 Market-based Performance Restricted Stock Units vesting between 0% and 150% on 03/01/2026. The vesting of this award is based on the total return stock price performance of Lam Research shares (assuming reinvestment of dividends) relative to the market price performance of the PHLX Semiconductor Sector Total Return Index, comparing the 50-trading day trailing average closing price over the performance period from 02/01/2023 through 01/31/2026.

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

3. The Market-based performance restricted stock units will vest between 0% and 150% on 03/01/2026. The performance of this award is based on the Lam Research Total Shareholder Return performance.relative to the PHLX Semiconductor Total Return Index Total Shareholder Return during the performance period of 02/01/2023 through 01/31/2026.

Remarks:

	Marta Woods by Power of Attorney	02/05/2026
	** 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.