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Lam Research (LRCX) SVP gets 53,925 shares from performance stock units

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Lam Research senior vice president Varadarajan Seshasayee acquired 53,925 shares of common stock on 02/03/2026 through the exercise of market-based performance restricted stock units at $0 per share. Following the transaction, he directly beneficially owned 249,564 common shares, including shares subject to unvested restricted stock units, and indirectly held 2,366.932 shares through a 401(k) plan.

The exercised award originally covered 35,950 market-based performance restricted stock units granted on 03/01/2023, with vesting tied to Lam Research total shareholder return versus the PHLX Semiconductor sector index over a performance period from 02/01/2023 through 01/31/2026.

Positive

  • None.

Negative

  • None.
Insider Varadarajan Seshasayee
Role Senior Vice President
Type Security Shares Price Value
Exercise Market-based Performance Restricted Stock Unit 35,950 $0.00 --
Exercise Common Stock 53,925 $0.00 --
holding Common Stock -- -- --
Holdings After Transaction: Market-based Performance Restricted Stock Unit — 0 shares (Direct); Common Stock — 249,564 shares (Direct); Common Stock — 2,366.932 shares (Indirect, By 401(k))
Footnotes (1)
  1. On 03/01/2023, the Reporting Person received a grant of 35,950 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. The amount reported includes shares subject to unvested restricted stock units. 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.
Form 4 Insider Transactions: What Each Field Means →
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*
Varadarajan Seshasayee
(Last) (First) (Middle)
C/O LAM RESEARCH CORPORATION
4650 CUSHING PARKWAY
(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 53,925(1) A $0 249,564(2) D
Common Stock 2,366.932 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 35,950 (3) (3) Common Stock 35,950 $0 0 D
Explanation of Responses:
1. On 03/01/2023, the Reporting Person received a grant of 35,950 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Lam Research (LRCX) report for Varadarajan Seshasayee?

Lam Research (LRCX) reported that senior vice president Varadarajan Seshasayee acquired 53,925 shares of common stock on 02/03/2026. The shares came from exercising market-based performance restricted stock units at $0 per share, reflecting equity compensation vesting.

How many Lam Research (LRCX) shares does Varadarajan Seshasayee own after this Form 4?

After the reported transaction, Varadarajan Seshasayee directly beneficially owned 249,564 Lam Research common shares, which includes shares subject to unvested restricted stock units. He also indirectly held 2,366.932 shares through a 401(k) plan associated with Lam Research.

What type of equity award vested for Lam Research (LRCX) executive Varadarajan Seshasayee?

The award was a grant of 35,950 market-based performance restricted stock units. Vesting depends on Lam Research total shareholder return versus the PHLX Semiconductor Total Return Index over a performance period running from 02/01/2023 through 01/31/2026, with vesting between 0% and 150%.

When were the performance stock units originally granted to the Lam Research (LRCX) executive?

The market-based performance restricted stock units were originally granted on 03/01/2023. This grant covers 35,950 units whose vesting is tied to Lam Research’s total shareholder return compared with the PHLX Semiconductor sector index over a defined multi-year performance period.

How is vesting determined for Lam Research (LRCX) market-based performance restricted stock units?

Vesting for these units is based on Lam Research total shareholder return relative to the PHLX Semiconductor Total Return Index. The performance comparison uses a 50-trading-day trailing average closing price over the period from 02/01/2023 to 01/31/2026, with vesting between 0% and 150%.

Does the Lam Research (LRCX) Form 4 show any indirect holdings for the reporting person?

Yes. In addition to directly owned shares, the Form 4 shows 2,366.932 common shares held indirectly in a 401(k) plan. These indirect holdings are reported separately from the 249,564 shares beneficially owned directly, which include unvested restricted stock units.